Wednesday, December 14, 2016 Weekly Credit Card Rate Report: Average card APR rises to 15.20 percent

Austin, Texas — The average APR on new card offers inched higher Wednesday after Capital One increased the APR on one of its cash back credit cards, 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 15.20% 15.18% 15.18%
Low Interest 12.00% 12.00% 11.98%
Balance Transfer 14.44% 14.41% 14.38%
Business 13.16% 13.16% 13.12%
Student 13.42% 13.42% 13.42%
Cash Back 15.38% 15.33% 15.32%
Airline 15.15% 15.15% 15.08%
Reward 15.27% 15.25% 15.29%
Instant Approval 17.86% 17.86% 18.04%
Bad Credit 22.86% 22.86% 22.56%
Updated: 12-14-16

The national average APR rose to 15.20 percent after remaining at 15.18 percent for nine weeks.

Capital One spurred this week's rate change by bumping up the APR on the QuicksilverOne Rewards MasterCard to 24.99 percent. The cash back card for consumers with average credit previously charged new cardholders 23.24 percent.

Citi also edited card offers this week. It trimmed the interest-fee balance transfer and purchase period on the Citi Thank You Preferred card from 15 months to 12 months.

Interest rates on new card offers are currently near record highs. Rates are expected to increase again after the Federal Reserve raises its benchmark interest rate, the federal funds rate.

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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