February 18, 2015
Austin, Texas — Average rates on new credit card offers stayed put again 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|
|Bad Credit||22.73%||22.73%||22.73%|| Source: CreditCards.com
None of the issuers tracked by CreditCards.com altered interest rates. As a result, the national average annual percentage rate (APR) remained at 14.89 percent for the seventh consecutive week.
Category APRs did change this week, however, due to an update to the CreditCards.com database, rather than a rate change.
Occasionally, CreditCards.com revises the database so that the card categories more accurately reflect the current market. For example, cards with a lower interest rate are now added to the " low interest " category if their APR is below the Federal Reserve's average APR for cards that carry a balance. This week, CreditCards.com updated the categories for several cards, causing the average APRs for those categories to change.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.