January 28, 2015
Austin, Texas — Interest rates on new credit card offers didn't budge 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|
|Bad Credit||22.73%||22.73%||22.73%|| Source: CreditCards.com
The national average annual percentage rate (APR) remained fixed at 14.89 percent Wednesday for the fourth consecutive week.
Most issuers left credit card terms alone as well.
Fifth Third Bank sweetened promotional terms on the Fifth Third Bank Platinum MasterCard. Applicants now have 15 months to take advantage of interest-free purchases and balance transfers instead of 12.
Meanwhile, Capital One eliminated the $19 annual fee on the Capital One Platinum credit card for consumers with average credit. However, applicants who qualify for the card are still charged a 24.9 percent APR.
The average APR for consumers with bad credit, by contrast, is currently 22.73 percent. The average maximum APR on new credit card offers is 21.23 percent.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:
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.