November 13, 2013
Austin, Texas—Average rates on new card offers remained at 15.05 percent 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|
The national average annual percentage rate (APR) is currently at its highest point since January 2012. For most of 2013, the national average has hovered at or just below 14.96 percent.
On Sept. 4, average rates climbed to 14.99 percent, then ticked up to 15.02 percent three weeks later. Average rates haven't fallen below 15 percent since September. The average APR for the year now stands at 14.97 percent -- just one basis point above where it was in 2012.
Most card offers remained unchanged this week. Discover reinstated a longer-term promotional offer on the "it" card after briefly shortening the amount of time cardholders could take advantage of interest-free balance transfers and purchases. Cardholders now have 14 months to take advantage of the promotion.
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.