Wednesday, Feb. 24, 2016 Weekly Credit Card Rate Report: Average card rate holds steady at 15.16 percent

Austin, Texas — The average credit card interest rate stayed at 15.16 percent Wednesday for the third consecutive 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 15.16% 15.16% 15.00%
Low Interest 11.96% 11.96% 11.62%
Balance Transfer 14.35% 14.35% 14.12%
Business 13.12% 13.12% 12.85%
Student 13.42% 13.42% 13.14%
Cash Back 15.20% 15.20% 15.27%
Airline 15.17% 15.17% 15.10%
Reward 15.25% 15.25% 15.14%
Instant Approval 18.02% 18.02% 18.00%
Bad Credit 22.56% 22.56% 22.73%
Updated: 2-24-16

None of the issuers included in the rate report tweaked interest rates. Issuers left promotional APRs unchanged as well.

This is the first week since November 2015 that all 100 cards tracked by advertised the same rates and promotional offers. Since early December, more card issuers than usual have tinkered with terms.

Most issuers increased rates by 0.25 percent after the Federal Reserve announced in mid-December it was increasing the federal benchmark interest rate by the same amount. Some issuers also implemented more dramatic changes. For example, Pentagon Federal Credit Union increased the Promise card's APR by more than 2 percentage points. Meanwhile, Credit One cut the Platinum card's APR by nearly 3 percentage points.

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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