February 22, 2012
Austin, Texas—The average interest rate on a new credit card offer remained unchanged, according to the CreditCards.com Weekly Credit Card Rate Report.
The average is composed 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|
For the fourth straight week, the average annual percentage rate (APR) stood at 14.91 percent, its lowest level since August 2011. It's the sixth time in the first eight weeks of the year that rates have gone unchanged.
When rates have moved in 2012, they have fallen -- once in January and once in early February. Dating back to late 2011, we have gone 10 straight weeks without seeing a week-to-week increase in the national average APR -- the longest such stretch since CreditCards.com began tracking rates in 2007.
The last increase we saw was in mid-December, as rates jumped from 14.98 percent to a record 15.22 percent. That increase was the largest in more than a year.
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.
Ben Woolsey, 512-996-8663, ext. 106
Director of Marketing
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.