January 27, 2016
Austin, Texas — Average rates on new card offers inched higher 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 rose to 15.13 percent Wednesday after two cards in the CreditCards.com database posted slightly higher interest rates
Capital One narrowed the range of possible APRs on the Sony credit card by increasing the card's lowest APR from 14.15 percent to 14.24 percent and reducing its maximum APR from 25.15 percent to 24.99 percent. This is the second time this month Capital One has altered interest rates. It previously increased both APRs on the Sony card by 0.25 percent in response to the Federal Reserve's December rate increase.
Fifth Third Bank was also active. It raised the Fifth Third Platinum card’s minimum interest rate from 10.99 percent to 11.24 percent and increased the card’s maximum rate to 24.24 percent.
The CreditCards.com credit card rate survey (permalink: https://www.creditcards.com/rate-report) 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.
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:
Senior Industry Analyst
512-996-8663, ext. 103
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.