Wednesday, December 6, 2017
Austin, Texas — The average credit card interest rate remained fixed at 16.15 percent this 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||23.46%||23.46%||23.23%|| Source: CreditCards.com
Most card issuers left interest rates and promotional terms, such as interest-free offers, unchanged.
The sporting goods store Cabela’s boosted the minimum APR on the Cabela’s Club Visa to 16.35 percent and extended the card’s maximum APR to 25.35 percent. But the change was too small to affect the national average.
This week marks the 12th unbroken week the average card APR has stood at 16.15 percent. Credit card rates have trended upward for most of 2017.
A year ago today, the average card APR stood at 15.18 percent -- nearly a full percentage point lower than where it stands today.
The CreditCards.com credit card rate survey (permalink: http://www.creditcards.com/rate-report) 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.
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, http://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.