Wednesday, December 7, 2016
Austin, Texas — The average APR on new card offers held still Wednesday despite multiple small rate changes, 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||22.86%||22.86%||22.56%|| Source: CreditCards.com
For the ninth week, the national average APR stayed put at 15.18 percent
Two cards included in the weekly rate report advertised new interest rates. However, the changes were too small to affect the national average.
Citi increased the APR on the CitiBusiness Aadvantage Platinum Select card from 15.49 to 15.99 percent. Meanwhile, sporting goods store Cabela's bumped the minimum APR on the Cabela's Club Visa card from 15.52 to 15.61 percent.
Together, the changes caused average rates on airline, rewards and business credit cards to increase slightly.
Discover was also active this week. It lengthened the interest-free promotional period on the Discover "it" credit card from 12 to 14 months.
The CreditCards.com credit card rate survey (permalink: https://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, 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.