January 22, 2014
Austin, Texas—Average rates on new card offers remained unchanged 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|
The national average annual percentage rate (APR) remained locked at 15.06 percent Wednesday for the 10th consecutive week.
None of the cards tracked by CreditCards.com advertised new terms this week. Promotional offers, including 0 percent balance transfers and introductory APRs, also remained unchanged.
Credit card APRs are currently at their highest point since early 2012, and issuers show few signs of substantially lowering rates any time soon. In 2013, for example, the national average fell just five times in 12 months. In 2012, it fell just nine times.
The small number of declines underscores just how reluctant issuers have been in recent years to lower credit card APRs.
The national average has remained above 15 percent for the past 18 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.
For more information, contact:
Daniel P. Ray
Editor in chief
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.