Wednesday, August 31, 2016 Weekly Credit Card Rate Report: Average card APR jumps to 15.22 percent

Austin, Texas — The average APR on new credit card offers rose to a record high 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 15.22% 15.19% 15.16%
Low Interest 11.98% 11.98% 11.96%
Balance Transfer 14.39% 14.39% 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 15.13% 15.13% 15.17%
Reward 15.30% 15.30% 15.25%
Instant Approval 18.04% 18.04% 18.02%
Bad Credit 22.86% 22.56% 22.56%
Updated: 8-31-16

For the first time in nearly five years, the national average annual percentage rate (APR) rose to 15.22 percent.

The last time rates were this high was in December 2011 when the national average briefly peaked at 15.22 percent. At that time, rates stayed above 15.10 for just four weeks before dropping below 15 percent in January 2012. This year, rates have remained solidly above 15.10 percent since January 6 and show no sign of dropping anytime soon.

Unlike most rate changes, this week's change was due to a replacement in the credit card database rather than a change in terms. Occasionally, reshuffles cards in the database in order to more accurately reflect the current card market.

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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