Wednesday, March 22, 2017 Weekly Credit Card Rate Report: Average card rates jump to record high of 15.59 percent

Austin, Texas — The national average APR on new credit card offers climbed to another all-time high this week, reaching 15.59 percent, according to the 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 are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 15.59% 15.51% 15.22%
Low Interest 12.44% 12.37% 11.98%
Balance Transfer 14.86% 14.78% 14.39%
Business 13.49% 13.41% 13.12%
Student 13.73% 13.67% 13.42%
Cash Back 15.63% 15.61% 15.32%
Airline 15.59% 15.44% 15.13%
Reward 15.67% 15.59% 15.30%
Instant Approval 18.11% 18.09% 18.04%
Bad Credit 23.04% 23.01% 22.86%
Updated: 3-22-17

This is the first time on record average rates have come this close to 16 percent.

Several issuers increased rates this week, matching the Federal Reserve's March 15 rate hike. Last week, the Fed announced it was increasing its benchmark interest rate by 0.25 percent. Most variable rate cards are expected to rise by the same amount.

So far, American Express, U.S. Bank and several regional banks have matched the Fed's rate change.

Citi also hiked the APR on one of its airline cards by nearly 2 percentage points. Cardholders who apply for the Aadvantage Gold card are now offered a range starting at 16.24 percent and maxing out at 24.24 percent.

The credit card rate survey (permalink: 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.

About 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.,, 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:


Matt Schulz
Senior Industry Analyst
512-996-8663, ext. 103

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