Wednesday, November 01, 2017
Austin, Texas — Interest rates on new credit card offers held steady 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||23.46%||23.46%||23.20%|| Source: CreditCards.com
For the seventh week in a row, the national average APR stayed put at 16.15 percent. None of the cards included in the weekly rate report advertised new interest rates. Most cards also left promotional terms unchanged.
Citi eliminated the interest-free promotion on one of its airline credit cards, the Citi/AAdvantage Gold World Elite Mastercard. New cardholders used to get 15 months of interest-free purchases and balance transfers. Now, cardholders must pay a standard APR of 16.99 percent to 24.99 percent.
Among the 100 cards included in the weekly rate report, just 16 cards offer interest-free promotions as long as 15 months or more. Meanwhile, an additional 17 credit cards offer 0 percent promotions lasting for 12 to 14 months.
The CreditCards.com credit card rate survey (permalink: http://www.creditcards.com/rate-report) 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.
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, http://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.