Wednesday, July 1, 2015
Austin, Texas — Interest rates on new credit card offers held still 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 remained at 15 percent Wednesday after increasing the previous week for the first time in over a month.
None of the cards tracked by CreditCards.com offered new interest rates. Promotional terms, including 0 percent balance transfer offers and introductory APRs, also remained unchanged.
Average rates on new credit card offers are currently at a 7-month high. After remaining at or above 15 percent for most of 2014, interest rates slumped in November and remained below 15 percent for more than two quarters.
After declining intermittently between November 2014 and March 2015, interest rates began picking up again toward the end of the first quarter and have increased four times since the last week of March.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.