Wednesday, August 23, 2017 Weekly Credit Card Rate Report: Average card APR climbs to another all-time high

Austin, Texas — The average APR for new credit card offers hit another record 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 16.14% 16.13% 15.50%
Low Interest 12.88% 12.88% 12.36%
Balance Transfer 15.37% 15.36% 14.76%
Business 13.68% 13.68% 13.41%
Student 15.70% 15.70% 13.67%
Cash Back 16.37% 16.37% 15.61%
Airline 16.06% 16.06% 15.40%
Reward 16.23% 16.23% 15.57%
Instant Approval 18.60% 18.57% 18.09%
Bad Credit 23.46% 23.46% 23.01%
Updated: 8-23-17

For the second week in a row, the national average APR remained at a record high of 16.14 percent — nearly a full percentage point higher than this time last year. On August 23, 2016, the average weekly APR was just 15.19 percent.

The average card APR has climbed steadily this year, thanks to periodic quarter-point rate changes by the Federal Reserve. When the Fed changes its benchmark interest rate, most variable rate cards match it by the same amount. As a result, the average APR for the year has risen to 15.75 percent — also a record high.

As a result, the average APR for new student credit cards has climbed to 15.70 percent — up from an average APR of 13.42 percent in August 2016.

Most cards remained unchanged this week. One store card increased its APR by 0.25 percent, but the change didn't affect the national average.

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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