March 20, 2013

CreditCards.com: Weekly Credit Card Rate Report

Austin, Texas—Interest rates on new credit card offers remained fixed 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
National Average 14.95% 14.95% 15.00%
Low Interest 10.29% 10.29% 10.40%
Balance Transfer 12.59% 12.59% 12.62%
Business 13.13% 13.13% 13.13%
Student 13.16% 13.16% 13.16%
Cash Back 14.13% 14.13% 14.47%
Airline 14.63% 14.63% 14.63%
Reward 14.75% 14.75% 14.84%
Instant Approval 15.49% 15.49% 15.49%
Bad Credit 23.64% 23.64% 23.64%
Source: CreditCards.com
Updated: 3-20-13

The national average annual percentage rate (APR) held steady at 14.95 percent Wednesday for the fifth consecutive week.

None of the issuers tracked by CreditCards.com altered rates this week.

Since Jan. 1, interest rates have remained unchanged nine weeks out of 12. In the rare instances that the national average did change this year, it moved by just one hundredth of a percentage point.

Credit card issuers have been slow to make substantial changes to card offers for much of the past year. Average credit card interest rates, for example, have hovered between 14.9 percent and 15.01 percent since March 21, 2012.

Many of the cards tracked by CreditCards.com have also featured the same promotional offers since early 2012.

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.

About CreditCards.com
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:

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Contact:
CreditCards.com, Austin
Ben Woolsey, 512-996-8663, ext. 106
Director of Marketing
benw@creditcards.com

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

Source: CreditCards.com