March 6, 2013
Austin, Texas—Interest rates on new credit card offers remained at 14.95 percent Wednesday for the third 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|
Most issuers left interest rates alone this week. However, the sporting goods store Cabela’s did make a minor change to its retail rewards card, raising the maximum available rate on the Cabela’s Club Visa from 18.19 percent to 18.20 percent.
The change didn’t affect the national average, however, because CreditCards.com only considers a card’s lowest available rate when calculating average interest rates.
Discover was also busy this week, extending the amount of time students can take advantage of an introductory APR and 0 percent balance transfer offer on the Discover “it” card for students.
Previously, students had just six months to take advantage of the promotions. Now, students have nine months before the card’s promotional periods expire.
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:
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.