June 18, 2014
Austin, Texas—Interest rates on new credit card offers didn't budge 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|
The national average annual percentage rate (APR) remained locked at 15.01 percent Wednesday for the seventh consecutive week.
This is the second time this year that interest rates have remained unchanged for more than six weeks.
Credit card issuers have left interest alone for most of 2014. In November 2013, average rates rose to 15.06 percent and remained there for nine straight weeks. Since then, rates have changed somewhat more often -- but not by much.
Since Jan. 29, interest rates have remained unchanged 15 weeks out of 20. The few times that interest rates have moved, the changes have been tiny. The national average hasn't risen above 15.02 percent since Jan. 22. Meanwhile, it hasn't fallen below 15 percent since September 2013.
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.