Wednesday, October 26, 2016
Austin, Texas — The average APR on new card offers held still Wednesday, 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||22.86%||22.86%||22.56%|| Source: CreditCards.com
For the third straight week, the national average annual percentage rate (APR) remained fastened at 15.18 percent.
Most credit cards tracked by CreditCards.com advertised the same promotional terms and interest rates.
Regions Bank refreshed its credit card lineup and replaced the Regions Visa Platinum Rewards card with a card that carries a slightly higher maximum APR. However, the change didn't affect the national average because CreditCards.com only considers a card's lowest available interest rate when calculating average rates.
The new Regions Prestige Visa Signature card charges a minimum APR of 13.24 percent and a maximum APR of 22.24 percent. Regions also introduced a lower rate plain vanilla card, the Regions Life Visa, and a higher-end rewards card, the Regions Premium Visa Signature card.
The CreditCards.com credit card rate survey (permalink: https://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, 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.