Wednesday, November 16, 2016 Weekly Credit Card Rate Report: Average card APR remains unchanged at 15.18 percent

Austin, Texas — The average APR on new card offers stayed at 15.18 percent Wednesday for the sixth consecutive week, according to the 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 are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 15.18% 15.18% 15.19%
Low Interest 12.00% 12.00% 11.96%
Balance Transfer 14.41% 14.41% 14.39%
Business 13.12% 13.12% 13.12%
Student 13.42% 13.42% 13.42%
Cash Back 15.33% 15.33% 15.30%
Airline 15.13% 15.13% 15.17%
Reward 15.24% 15.24% 15.30%
Instant Approval 17.86% 17.86% 18.04%
Bad Credit 22.86% 22.86% 22.56%
Updated: 11-16-16

Most card issuers left credit card offers alone this week.

Wells Fargo trimmed the promotional offers on two of its rewards cards. The Wells Fargo Cash Wise Visa and the Wells Fargo Rewards card now offer an interest-free balance transfer and 0 percent APR on purchases for just 12 months. Previously, cardholders were given up to 15 months before they were required to pay interest.

Interest rates have been historically elevated all year. Since January, for example, the national average APR has remained well above 15.10 percent. If interest rates continue to be this high through the end of 2016, this will be the first year on record that interest rates stayed above 15 percent all year.

All other cards included in the left interest rates and promotional offers alone this week.

Interest rates on new credit card offers are currently at record highs. The average APR for the year has settled at 15.18 percent -- the highest yearly average recorded since began tracking rates in mid-2007.

The credit card rate survey (permalink: 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.

About 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.,, 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:


Matt Schulz
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