Wednesday, July 22, 2015
Austin, Texas — Interest rates on new credit card offers stayed in place again 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
For the fifth week in a row, the national average APR remained at 15 percent. None of the cards tracked by CreditCards.com advertised new rates. Promotional offers, including interest-free balance transfer offers and introductory purchase rates, were also left in place.
For the second time this year, Capital One eliminated the $19 annual fee on its Platinum card. The issuer had removed the card’s annual fee in January, but then reintroduced it in March.
Earlier this year, Capital One also eliminated the $29 annual fee on the Secured MasterCard. As a result, the QuicksilverOne card, the Classic Platinum card and the Venture Rewards card are currently the only personal cards that Capital One offers that carry an annual fee.
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.