Wednesday, January 4, 2017 Weekly Credit Card Rate Report: Average card APR jumps to 15.36 percent

Austin, Texas — Already at a record high, the national average APR on new card offers jumped again, 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 15.36% 15.29% 15.18%
Low Interest 12.16% 12.09% 11.98%
Balance Transfer 14.60% 14.53% 14.38%
Business 13.37% 13.26% 13.12%
Student 13.67% 13.54% 13.42%
Cash Back 15.51% 15.43% 15.32%
Airline 15.35% 15.25% 15.08%
Reward 15.44% 15.36% 15.29%
Instant Approval 18.00% 17.88% 18.04%
Bad Credit 22.98% 22.95% 22.56%
Updated: 1-4-17

The average card rate climbed to 15.36 percent Wednesday after ending 2016 at a record high of 15.29 percent.

For the third consecutive week, the average APR climbed to an all-time high after multiple issuers adjusted APRs in response to a rate hike from the Federal Reserve. In mid-December, the Fed hiked its benchmark interest rate by 0.25 percent, prompting issuers to increase rates by the same amount. Among the 100 cards tracked by, 73 followed suit with 0.25 percent rate increases.

One issuer, Pentagon Federal Credit Union, cut rates this week. The PenFed Promise Visa now advertises a minimum APR of 8.99 percent, while the PenFed Platinum Cash Rewards card charges a minimum rate of 9.24 percent.

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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