December 24, 2014
Austin, Texas— Average rates on new credit card offers held steady 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|
The national average annual percentage rate (APR) remained at 14.92 percent Wednesday after declining from 14.95 percent the previous week.
None of the cards tracked by CreditCards.com advertised new interest rates. As a result, the national average APR remained at its lowest point in more than two years. The last time average rates were this low was in July 2012 when the national average hit 14.91 percent.
Most issuers left promotional terms unchanged, as well. Capital One introduced an interest-free balance transfer offer to one of its cash-back cards for consumers with average credit. Applicants who qualify for the QuicksilverOne Rewards card now have nine months to take advantage of interest-free balance transfers. Cardholders are also offered nine months of interest-free purchases.The CreditCards.com credit card rate survey (permalink: https://www.creditcards.com/rate-report ) is conducted weekly, using offer data from the 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.