Wednesday, March 15, 2017
Austin, Texas — The national average APR on new card offers stayed put 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|
|Bad Credit||23.01%||23.01%||22.86%|| Source: CreditCards.com
For the second week, the national average APR remained at a record high of 15.51 percent.
Most card issuers left interest rates alone this week. Citi boosted the APR on the Citi Thank You Preferred card by half a percentage point, but the change was too small to affect the national average. Applicants are now offered an APR ranging from a minimum APR of 13.99 percent to a maximum rate of 23.99 percent.
Interest rates on new card offers are currently at their highest point since CreditCards.com began tracking rates in mid-2007. Since Jan. 4, average rates have hovered between 15.36 percent and 15.51 percent. As a result, the average APR for the year has climbed to 15.45 percent.
The CreditCards.com credit card rate survey (permalink: https://www.creditcards.com/rate-report) 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.
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.