December 30, 2015 Weekly Credit Card Rate Report: Average card rates jump to 15.07 percent

Austin, Texas — Interest rates on new credit card offers rose to a near record high this week after Citi boosted rates on multiple 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 15.07% 15.05% 15.00%
Low Interest 11.76% 11.74% 11.62%
Balance Transfer 14.17% 14.15% 14.12%
Business 12.97% 12.95% 12.85%
Student 13.29% 13.26% 13.14%
Cash Back 15.32% 15.30% 15.27%
Airline 15.02% 14.99% 15.10%
Reward 15.20% 15.18% 15.14%
Instant Approval 18.00% 18.00% 18.00%
Bad Credit 22.81% 22.81% 22.73%
Updated: 12-30-2015

More than a week after the Federal Reserve increased the federal funds rate by 0.25 percent, Citi hiked APRs on its credit cards by the same amount. As a result, the national average APR rose to 15.07 percent -- one of the highest average APRs ever recorded by the Weekly Rate Report.

The last time average rates were this high was in late 2014.

Card issuers are acting quickly to pass along the Fed rate hike to their customers with variable rate cards, as allowed under federal law. Among the 100 cards tracked by 34 have increased rates since the Fed's action, all by the same quarter point.

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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