March 5, 2014
CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain unchanged
Austin, Texas—Average rates on new credit card offers remained at 15.01 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:
Most card issuers left interest rates alone this week. The sporting goods store Cabela's readjusted the APR on the Cabela's Club Visa by 0.01 percent. However, the rate change was too small to affect the national average.
Frequent Cabela's shoppers who want to use the card for non-Cabela's store purchases may now qualify for an APR between 15.14 percent and 21.14 percent.
Cabela's revised the store card's APR after the one-month LIBOR rate decreased from 0.16 percent to 0.15 percent. Unlike most U.S. credit cards, which are tied to the U.S. prime rate, the Cabela's Club Visa is tied to the 30-day LIBOR rate. When the one-month LIBOR rate falls, the APR on the Cabela's Club Visa automatically declines as well.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.
For more information, contact:
Daniel P. Ray
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.