Wednesday, June 10, 2015
Austin, Texas — The national average APR for new credit card offers remained locked in place Wednesday for the fourth consecutive 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
Average card rates held steady at 14.99 percent.
Most issuers left card offers alone this week. However, Barclaycard recently cut off applications for the Visa Black card, but the move is only temporary, according to Barclaycard spokeswoman Nicole Dye-Anderson. "We've temporarily closed acquisition channels while we work to enhance the product," said Dye-Anderson in an email. "We have a lot of great things coming up."
To reflect the interim closing, CreditCards.com removed the Visa Black card from the CreditCards.com database and replaced it with the Citi Prestige card, which charges a slightly higher APR. The switch resulted in some category APR change, but didn't affect the national average.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.