October 28, 2015

CreditCards.com Weekly Credit Card Rate Report: Average credit card interest rates remain unchanged at 15.01 percent

Austin, Texas — Interest rates on new credit card offers remained in place 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
National Average 15.01% 15.01% 14.92%
Low Interest 11.62% 11.62% 11.62%
Balance Transfer 14.12% 14.12% 14.04%
Business 12.85% 12.85% 12.85%
Student 13.14% 13.14% 13.14%
Cash Back 15.27% 15.27% 15.28%
Airline 15.14% 15.14% 15.10%
Reward 15.15% 15.15% 15.04%
Instant Approval 18.00% 18.00% 17.93%
Bad Credit 22.73% 22.73% 22.73%
Source: CreditCards.com
Updated: 10-28-15

For the third consecutive week, the national average annual percentage rate (APR) held steady at 15.01 percent. None of the 100 cards tracked by CreditCards.com advertised new interest rates.

Credit card issuers have been slow to change interest rates for most of 2015. Since Jan. 1, the national average APR has changed just seven times and has remained unchanged for a total of 36 weeks out of 43. Between June and October, card changes became so rare that the national average APR was stuck at 15 percent for a record 16 weeks, which is the longest period of time the national average has not changed since CreditCards.com began tracking rates in mid-2007.

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.

About CreditCards.com
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:

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Matt Schulz
Senior Industry Analyst
matt.schulz@creditcards.com
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.

Source: CreditCards.com