Wednesday, July 20, 2016 Weekly Credit Card Rate Report: Average card APR doesn't budge

Austin, Texas — The average APR on new card offers remained locked in place this week, 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 15.18% 15.18% 15.12%
Low Interest 11.98% 11.98% 11.87%
Balance Transfer 14.38% 14.38% 14.30%
Business 13.12% 13.12% 13.11%
Student 13.42% 13.42% 13.42%
Cash Back 15.32% 15.32% 15.23%
Airline 15.08% 15.08% 15.16%
Reward 15.29% 15.29% 15.25%
Instant Approval 18.04% 18.04% 18.18%
Bad Credit 22.56% 22.56% 22.88%
Updated: 7-20-16

None of the cards tracked by advertised new interest rates. As a result, the national average APR remained fixed at 15.18 percent.

Average rates on new card offers are currently near record highs. Since January 1, the average APR has remained solidly above 15.12 percent, making this the longest period of time on record that average rates have stayed above 15.10 percent. The last time the national average stayed this high for more than a week was in 2011 when average rates briefly peaked at 15.22 percent before dropping below 15 percent the following month.

The average APR for 2016 is currently 15.17 percent. During the same period in 2015, by contrast, the average APR for the year was just 14.93 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

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