April 15, 2015
Austin, Texas — Average rates on new card offers didn't budge this week, according to the CreditCards.com Weekly Credit Card Rate Report.The average is comprised of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.
Rates for card categories tracked by CreditCards.com are listed below:
|Credit Card Rate Averages|
|Avg. APR||Last Week||6 Months ago|
|Bad Credit||22.48%||22.48%||22.73%|| Source: CreditCards.com
None of the cards tracked by CreditCards.com advertised new interest rates. As a result, the national average annual percentage rate (APR) remained at 14.9 percent for the fourth week in a row.
Most card offers have remained unchanged since the beginning of the year. Out of 100 cards, just eight cards feature new rates this year.
Three cards saw their minimum rates increase. An equal number have enjoyed a rate cut on their lowest available APR.
Pentagon Federal Credit Union made the most dramatic rate change this year: It slashed the minimum APR on the PenFed Promise card from 9.99 percent to 7.99 percent. It also increased the card's maximum APR by 7 percentage points -- from 9.99 percent to 16.99 percent.The CreditCards.com credit card rate survey (permalink: https://www.creditcards.com/rate-report) is conducted weekly, using offer data from the leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.
CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, https://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.
For more information, contact:
Senior Industry Analyst
512-996-8663, ext. 103
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.