January 16, 2013
Austin, Texas—Interest rates on new credit card offers remained unchanged for the 10th straight 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|
The national average annual percentage rate (APR) remained fixed at 14.96 percent Wednesday. None of the cards that CreditCards.com tracks featured rate changes this week.
In today’s credit card environment, that’s nothing new. Average rates have remained just below 15 percent since November 2012 and have remained within rounding distance of 15 percent since October 2010.
In recent weeks, credit card issuers have been especially inactive. The past 10 weeks marks the longest period that average rates have remained the same since CreditCards.com began tracking rates in mid-2007.
Previously, the longest stretch of time issuers left interest rates on new card offers alone was just six weeks.
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.