June 27, 2012
Austin, Texas — Interest rates on new credit card offers held steady for the third consecutive week, according to the CreditCards.com Weekly Credit Card Rate Report.
The average is composed 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) on new card offers remained unchanged at 14.92 percent Wednesday. This is the 16th time this year that credit card interest rates have remained flat.
Issuers also refrained from changing promotional balance transfer offers and promotional APRs. As a result, credit card applicants are likely to see the same offer today that they would have seen a week ago -- or even several weeks ago.
After a significant amount of activity early in the year, issuers have left promotional terms alone for much of the second quarter. For example, since the beginning of April, only 11 cards among the 100 cards that CreditCards.com tracks have featured new promotional balance transfer offers or new short-term APRs.
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.
Ben Woolsey, 512-996-8663, ext. 106
Director of Marketing
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.