May 13, 2015
Austin, Texas — Interest 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||22.73%||22.73%||22.73%|| Source: CreditCards.com
The national average annual percentage rate (APR) remained stuck at 14.92 percent for the fourth consecutive week. None of the cards tracked by CreditCards.com advertised new interest rates. Issuers left promotional terms alone as well.
This is the eighth week in a row that card issuers have left 0 percent purchase offers and promotional balance transfer rates unchanged. The last time an issuer tracked by CreditCards.com changed a promotional offer was in the middle of March when Citi extended the interest-free balance transfer period on the Citi Diamond Preferred card from 18 months to 21 months.
Issuers typically use interest-free promotions to lure new cardholders. However, since Jan. 1, only a handful of cards in the CreditCards.com database have featured new promotions.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.