October 29, 2014
Austin, Texas— Average rates on new card offers rose slightly 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|
The national average annual percentage rate (APR) inched up to 15.09 percent this week after remaining at 15.07 percent for four weeks. The last time average rates were this high was in January 2012 when the national average hit 15.14 percent.
This week's change was due to a reshuffling of the CreditCards.com database. Two cards that CreditCards.com tracks, the CitiBusiness ThankYou card and the Hess Visa Platinum card, are no longer offered online. CreditCards.com replaced the cards in the database with similar cards that advertised slightly higher APRs.
Citi is the second issuer this month to trim its business card lineup. Discover recently stopped offering its Discover Business card, which was the only business card Discover offered.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.