May 29, 2013
Austin, Texas—Interest rates on new credit card offers held steady this 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:
|Credit Card Rate Averages|
|Avg. APR||Last Week||6 Months ago|
The national average annual percentage rate (APR) remained at 14.98 percent Wednesday. The average had risen twice in the prior four weeks.
Most issuers left card offers alone this week. Barclays made a rare change to the promotional terms on the high-end Visa Black card, but didn’t change the card’s 14.99 percent APR or its $495 annual fee.
To entice new customers, Barclays introduced a 0 percent introductory APR for 12 months. Previously, the card advertised a 0 percent balance transfer rate, but didn’t offer a promotional APR.
Barclays also shortened the card’s 0 percent balance transfer period from 15 months to 12 months. This is the first time this year that Barclays has made a change to the Visa Black card’s terms.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:
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.