Wednesday, July 05, 2017 Weekly Credit Card Rate Report: Average card APR jumps to 15.82 percent

Austin, Texas — The national average APR for new card offers sailed past 16 percent this week for the first time in more than a decade, according to the 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 are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 16.06% 16.00% 15.36%
Low Interest 12.87% 12.83% 12.16%
Balance Transfer 15.30% 15.20% 14.60%
Business 13.86% 13.76% 13.37%
Student 15.14% 15.01% 13.67%
Cash Back 16.26% 16.17% 15.51%
Airline 15.99% 15.90% 15.35%
Reward 16.14% 16.06% 15.44%
Instant Approval 18.51% 18.39% 18.00%
Bad Credit 23.43% 23.40% 22.98%
Updated: 7-05-17

The average card APR climbed to a record high of 16.06 percent. This is the first time since began tracking rates in mid-2007 that average rates have surpassed 16 percent.

Several issuers drove this week's rate change. Some lenders hiked card APRs by a quarter of a percent in response to the Federal Reserve's June 2017 rate hike. The sporting goods store Cabela's also increased the minimum APR on its store card by 0.18 percent and hiked the card's maximum rate by 3.18 percent.

Meanwhile, Navy Federal Credit Union bucked the recent trend toward hiking APRs by cutting the APR on its Platinum card by 2 percent.

The credit card rate survey (permalink: 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.

About 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.,, 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:


Matt Schulz
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