July 17, 2013

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

Austin, Texas—Interest rates on new credit card offers held steady 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: 7-17-13

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

Over the past month, issuers have left most card offers alone, causing the national average to stay the same. Some issuers have been more active, adding new cards to their credit card lineups and discontinuing others.

Capital One, for example, recently introduced two new, cash-back credit cards: the Quicksilver Rewards card for consumers with excellent credit and the QuicksilverOne Rewards card for consumers with average credit.

Both cards offer slightly more cash back than Capital One's Cash Rewards credit cards, which are no longer being promoted online, but feature the same terms. Cardholders who qualify for a Quicksilver card can now earn 1.5 percent cash back on every purchase.

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:

###

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