October 14, 2015
Austin, Texas — Average rates on new credit card offers rose Wednesday for the first time since June, 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||22.73%||22.73%||22.48%|| Source: CreditCards.com
The national average annual percentage rate (APR) rose to 15.01 percent after remaining at 15 percent for more than three months.
Unlike most national average changes, however, this week's change was due to a reshuffling of the cards in the CreditCards.com database rather than a rate change. Earlier this month, American Express stopped taking online applications for the JetBlue card and CreditCards.com replaced the card in the database with another travel card.
In February, American Express announced it was unable to renew its deal with JetBlue to issue co-branded cards with the airline.
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.