October 17, 2012
Austin, Texas—Interest rates on new credit card offers remained at 15 percent Wednesday for the fifth straight 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|
This week marks the fifth week that average rates have remained at 15 percent and the 13th consecutive week that average rates have hovered just above 14.96 percent.
None of the cards featured rate changes this week. However, that’s become the norm in today’s placid card climate. Since Jan. 1, average APRs on new card offers have remained the same 28 weeks out of 42.
For the past two years, issuers have largely refrained from making big changes to credit card interest rates. For example, the average APR for all of 2012 is currently 14.95 percent. During the same period in 2011, the average APR for the year clocked in at 14.8 percent.
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.
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.