August 12, 2015
Austin, Texas — Average credit card interest rates remained at 15 percent Wednesday for the 8th 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||22.73%||22.73%||22.73%|| Source: CreditCards.com
Interest rates on new card offers haven't budged since the end of June. Most credit card offers have also retained the same promotional terms.
Capital One sweetened its promotional APR deal on two of its business cards this week. Both the Spark Miles Select card and the Spark Cash Select card now sport a 0 percent APR on purchases for nine months -- up from a previous offer of six months.
Meanwhile, American Express bumped up the annual fee on the Starwood Preferred Guest card from $65 to $95. It also added new benefits, including no foreign transaction fees and free Internet access in select hotel rooms and Boingo Wi-Fi hotspots.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.