October 21, 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) remained at 15.01 percent after increasing the previous week for the first time in more than three months.
None of the card offers analyzed by CreditCards.com advertised new interest rates. Issuers left introductory balance transfer offers and short-term APRs unchanged as well.
In February, American Express announced it was unable to renew its deal with JetBlue to issue co-branded cards with the airline.
Changes to credit card offers have been rare this year. The national average APR, for example, has changed just seven times since Jan. 1. Card issuers were somewhat more active in 2014, but changes to new credit card offers were still relatively unusual. Between Jan. 1, 2014, and Oct. 21, 2014, for example, the national average changed just 10 times. By the end of the year, average APRs changed 16 times.
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.