Wednesday, October 19, 2016 Weekly Credit Card Rate Report: Average card APR remains at 15.18 percent

Austin, Texas — The average APR on new credit card offers remained at 15.18 percent Wednesday for a second 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% 15.16%
Low Interest 12.00% 12.00% 11.96%
Balance Transfer 14.41% 14.41% 14.35%
Business 13.12% 13.12% 13.12%
Student 13.42% 13.42% 13.42%
Cash Back 15.33% 15.33% 15.21%
Airline 15.13% 15.13% 15.17%
Reward 15.24% 15.24% 15.26%
Instant Approval 17.86% 17.86% 18.04%
Bad Credit 22.86% 22.86% 22.56%
Updated: 10-19-16

None of the cards tracked by advertised new interest rates. Issuers also left promotional terms unchanged.

Average rates are currently at their lowest point in more than two months. For six weeks, the national average APR hovered at 15.22 percent — a near-record high.

Despite dipping to 15.18 percent, average APRs on new card offers are still elevated by historical standards. Since January 1, for example, the average APR remained solidly above 15.10 percent. That's the longest stretch of time average rates have remained well above 15 percent since began tracking rates in mid-2007. As a result, the national average APR for the year has climbed to 15.18 percent —an all-time record.

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

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