July 10, 2013

CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain unchanged

Austin, Texas—Interest rates on new credit card offers stayed put 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
National Average 14.96% 14.96% 14.96%
Low Interest 10.37% 10.37% 10.40%
Balance Transfer 12.39% 12.39% 12.62%
Business 12.98% 12.98% 13.13%
Student 13.16% 13.16% 13.31%
Cash Back 14.85% 14.85% 14.30%
Airline 14.63% 14.63% 14.63%
Reward 14.79% 14.79% 14.80%
Instant Approval 28.00% 28.00% 15.49%
Bad Credit 23.64% 23.64% 23.64%
Source: CreditCards.com
Updated: 7-10-13

The national average annual percentage rate (APR) remained at 14.96 percent Wednesday for the third consecutive week.

None of the cards tracked by CreditCards.com featured offer changes this week. That includes changes to promotional balance transfer offers and short-term APRs.

Despite occasional fluctuations over the past six months, average APRs on new credit card offers have remained exceedingly stable throughout 2013. For example, average credit card interest rates haven't changed by more than a handful of basis points since the beginning of the year.

As a result, the national average has remained stuck between 14.93 percent and 14.98 percent since January 1. Average card rates for the year are currently 14.95 percent -- which is just 1 basis point shy of the 2012 average of 14.96 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.

About CreditCards.com
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:

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Contact:
CreditCards.com, Austin
Ben Woolsey, 512-996-8663, ext. 106
Director of Marketing
benw@creditcards.com

NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.

Source: CreditCards.com