Wednesday, February 1, 2017 Weekly Credit Card Rate Report: Average card APR rises to record high of 15.44 percent

Austin, Texas — The national average APR on new credit card offers rose to another record high 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 15.44% 15.42% 15.18%
Low Interest 12.24% 12.22% 11.98%
Balance Transfer 14.68% 14.67% 14.38%
Business 13.41% 13.41% 13.12%
Student 13.67% 13.67% 13.42%
Cash Back 15.60% 15.57% 15.32%
Airline 15.40% 15.40% 15.08%
Reward 15.50% 15.48% 15.29%
Instant Approval 18.07% 18.03% 18.04%
Bad Credit 23.01% 22.98% 22.56%
Updated: 2-1-17

For the third time this year, the national average APR set an all-time record for the highest national average has recorded since it began tracking rates in mid-2007. This time, the average APR climbed to 15.44 percent after multiple card issuers adjusted APRs.

Credit One and Navy Federal Credit Union, for example, revised APRs to reflect the Federal Reserve's December 2016 rate hike. The Fed increased its benchmark interest rate by a quarter of a percent. Since then, most issuers have adjusted rates by the same amount.

Average rates on new card offers climbed after the Federal Reserve pushed up its benchmark interest rate by a quarter of a percent. Most major card issuers increased rates by the same amount, causing the national average APR to soar to an all-time record. Before the Fed's latest rate increase, the highest national average APR ever recorded was 15.22 percent.

Citi also increased the APR on its secured credit card by 0.50 percent this week. Citi secured cardholders are now offered a single APR of 22.99 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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