November 12, 2014
Austin, Texas— Average rates on new card offers held steady Wednesday at 15.09 percent, 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) dropped to 15 percent Wednesday after remaining at 15.09 percent for two straight weeks.
Barclays spurred this week's rate change by replacing the Apple Financing Visa with a brand-new Apple-branded credit card, the Barclaycard Visa with Apple Rewards. The newest Apple card features a much lower minimum APR of 13.99 percent as well as a new rewards structure. Previously, the Apple Financing Visa featured a minimum APR of 22.99 percent.
In a Nov. 6 Facebook post announcing the card's launch, Barclays touted the rewards card's Apple-centric perks, including bonus points for every dollar spent at an Apple store or through iTunes and deferred interest financing on Apple purchases.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.