Wednesday, August 10, 2016 Weekly Credit Card Rate Report: Average card APR holds tight at 15.18 percent

Austin, Texas — The average APR on new credit card offers remained locked in place this week, according to the 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 are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 15.18% 15.18% 15.16%
Low Interest 11.98% 11.98% 11.96%
Balance Transfer 14.38% 14.38% 14.35%
Business 13.12% 13.12% 13.12%
Student 13.42% 13.42% 13.42%
Cash Back 15.32% 15.32% 15.20%
Airline 15.08% 15.08% 15.17%
Reward 15.29% 15.29% 15.25%
Instant Approval 18.04% 18.04% 18.02%
Bad Credit 22.56% 22.56% 22.56%
Updated: 8-10-16

For the ninth consecutive week, the national average APR held firm at 15.18 percent.

None of the cards tracked by advertised new interest rates. Promotional terms, including interest-free balance transfer offers, also remained unchanged.

The national average APR has remained relatively stable all year. It hasn't fallen below 15.10 percent once since January 1, nor has it risen above 15.19 percent.

After the Federal Reserve increased its benchmark interest rate by 0.25 percent in December 2015, interest rates gradually increased as issuers adjusted their offers. The national average APR stabilized in February 2016 and hasn't fallen below 15.16 percent since. As a result, the average APR for the year is currently 15.17 percent — a record high.

The credit card rate survey (permalink: is conducted weekly, using offer data from 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.

About 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.,, 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:


Matt Schulz
Senior Industry Analyst
512-996-8663, ext. 103

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