Wednesday, June 22, 2016 Weekly Credit Card Rate Report: Average card APR remains unchanged

Austin, Texas — Interest rates on new credit card offers held still 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% 14.99%
Low Interest 11.98% 11.98% 11.67%
Balance Transfer 14.38% 14.38% 14.08%
Business 13.12% 13.12% 12.87%
Student 13.42% 13.42% 13.17%
Cash Back 15.32% 15.32% 15.27%
Airline 15.08% 15.08% 14.92%
Reward 15.29% 15.29% 15.12%
Instant Approval 18.04% 18.04% 18.00%
Bad Credit 22.56% 22.56% 22.75%
Updated: 6-22-16

None of the cards tracked by advertised new rates. As a result, the national average annual percentage rate (APR) held steady at 15.18 percent. Card issuers also left promotional terms, such as 0 percent balance transfer rates, unchanged.

This is the 17th week this year that interest rates have remained unchanged. After increasing rates at the beginning of the year, card issuers have mostly left card offers alone since then.

Average rates are currently near record highs, thanks in part to the Federal Reserve's December 2015 rate increase. When the Federal Reserve raised its benchmark irate by a quarter of a percent, most card issuers increased rates by the same amount. Since then, the national average APR has remained steadily above 15.10 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

NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to