Tuesday, November 21, 2017
Austin, Texas — Interest rates on new card offers remained stuck in place 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|
|Bad Credit||23.46%||23.46%||23.23%|| Source: CreditCards.com
For the 10th straight week, the national average APR held steady at 16.15 percent. None of the cards included in the weekly rate report advertised new interest rates. Issuers also left promotional rates, such as 0 percent balance transfer offers, unchanged.
Interest rates have remained relatively stable in recent months after climbing quickly in the first half of the year. Between January 1 and August 1, the average card APR climbed from 15.36 to 16.13 percent. Since then, it has inched up just slightly to 16.15 percent -- an all-time high. A year ago, the average APR registered at just 15.18 percent.
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.