March 18, 2015
Austin, Texas — Average rates on new credit card offers held firm Wednesday, 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||22.48%||22.48%||22.73%|| Source: CreditCards.com
None of the issuers tracked by CreditCards.com altered interest rates. As a result, the national average annual percentage rate (APR) stayed at 14.87 percent for the fourth consecutive week.
Citi lengthened a promotional offer on one of its rewards credit cards. Cardholders who apply for the Citi Diamond Preferred card now have 21 months to make interest-free purchases. Citi also increased the card's 0 percent balance transfer offer from 18 months to 21 months.
The Diamond Preferred card's new promotional terms are unusually generous compared to other cards. For example, the Citi Diamond Preferred card offers the lengthiest promotional period of any card tracked by CreditCards.com. Most cards tracked by CreditCards.com offer promotional APRs for a maximum of 12 to 15 months.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.