Wednesday, December 28, 2016 Weekly Credit Card Rate Report: Average card APR climbs to record high of 15.29 percent

Austin, Texas — Average rates on new credit card offers spiked again 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 15.29% 15.27% 15.18%
Low Interest 12.09% 12.09% 11.98%
Balance Transfer 14.53% 14.51% 14.38%
Business 13.26% 13.24% 13.12%
Student 13.54% 13.51% 13.42%
Cash Back 15.43% 15.41% 15.32%
Airline 15.25% 15.22% 15.08%
Reward 15.36% 15.33% 15.29%
Instant Approval 17.88% 17.88% 18.04%
Bad Credit 22.95% 22.92% 22.56%
Updated: 12-28-16

The national average APR jumped to a record high of 15.29 percent Wednesday after another major card issuer responded to the Federal Reserve's mid-December rate hike with corresponding rate increases.

Citi bumped the APRs on its card offers by 0.25 percent — the same amount the Federal Reserve increased its benchmark interest rate by — causing the national average APR to rise to an all-time high. The Federal Reserve raised its benchmark interest rate, the federal funds rate, from 0.25 percent to 0.5 percent Dec. 14, causing multiple card issuers, including American Express, Wells Fargo and U.S. Bank, to increase rates by the same amount. Among the 100 cards tracked by, 38 have now increased rates by 0.25 percent.

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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