January 25, 2012
Austin, Texas — Interest rates on new credit card offers held steady for the second straight week, 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|
The average annual percentage rate (APR) remained unchanged at 14.95 percent, as we saw no APR changes for any of the cards that we track.
The good news for consumers is that this is the sixth straight week without an increase in the national average since the average hit its record high -- 15.22 percent -- in mid-December. That most recent increase was the largest of 2011. However, it's one of just two increases seen in the national average since mid-October.
It is also the furthest into the year that the national APR average has gone without an increase. Since CreditCards.com began tracking rates in 2007, APRs have typically increased in the first or second week of the year and risen multiple times in the first month.
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.