Wednesday, May 03, 2017 Weekly Credit Card Rate Report: Average card APR spikes to record 15.80 percent

Austin, Texas — The national average APR for new credit card offers busted another record this week, rising to an all-time high, 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 15.80% 15.74% 15.18%
Low Interest 12.70% 12.59% 12.00%
Balance Transfer 15.08% 15.02% 14.41%
Business 13.66% 13.66% 13.12%
Student 13.92% 13.92% 13.42%
Cash Back 15.89% 15.79% 15.33%
Airline 15.77% 15.77% 15.13%
Reward 15.87% 15.83% 15.24%
Instant Approval 18.28% 18.25% 17.86%
Bad Credit 23.23% 23.20% 22.86%
Updated: 5-03-17

The average card APR jumped to a record 15.80 percent after several issuers increased credit card interest rates.

Some issuers, such as USAA, Credit One and First National Bank, increased rates by a quarter of a percent to match the Federal Reserve's March 2017 rate increase.

Other lenders, such as Pentagon Federal Credit Union and Discover, increased rates by a much larger amount. For example, Discover hiked the minimum available APR on the Discover it cash back card from a low of 11.74 percent to a minimum rate of 13.74 percent. Meanwhile, Pentagon Federal Credit Union increased the minimum APR on the PenFed Promise Visa from 8.99 percent to 10.74 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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