May 16, 2012
Austin, Texas — Interest rates on new credit card offers remained unchanged for the fifth straight week, according to the CreditCards.com Weekly Credit Card Rate Report.
The average is composed 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|
The national average annual percentage rate (APR) on new card offers stayed put at 14.91 percent Wednesday. This is the fifth week in a row interest rates haven’t budged.
This is also just the second time on record that average interest rates haven’t changed for more than four weeks. The last time interest rates remained unchanged for this long was in the spring of 2011.
Issuers left promotional terms alone as well this week, breaking a four-year record. This week marks the first time since CreditCards.com began tracking credit card offers in mid-2007 that all 100 of the cards we track featured the same offer terms for five straight weeks. Previously, issuers frequently tested 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.
Ben Woolsey, 512-996-8663, ext. 106
Director of Marketing
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.