April 8, 2015
Austin, Texas — The average APR on new card offers remained at 14.9 percent Wednesday for the third consecutive 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
Most card issuers left credit card terms alone this week.
The sporting goods store Cabela's increased the APR on the Cabela's Club Visa by .01 percent. However, the change was too small to affect the national average. Borrowers are now offered a minimum APR of 15.17 percent and a maximum APR of 21.17 percent.
None of the issuers tracked by CreditCards.com advertised new promotional terms. The last time a card issuer revised a promotion was in March when Citi lengthened the 0 percent APR and balance transfer offer on the Citi Diamond Preferred card from 18 months to 21 months. Most issuers tracked by CreditCards.com have left promotional terms unchanged since the beginning of the year.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.