September 17, 2014
Austin, Texas—Average rates on new credit card offers didn't budge this week, 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) remained stuck at 15.06 percent Wednesday for the fourth consecutive week.
None of the issuers tracked by CreditCards.com revised credit card terms this week. They left promotional rates, including 0 percent balance transfer offers and introductory APRs, alone as well.
The national average is currently just .07 percent higher than it was a year ago, when average rates hit 14.99 percent. On Sept. 25, 2013, the national average rose to 15.03 percent and has remained above 14.99 percent ever since.
The relative stability in credit card interest rates underscores just how reluctant issuers have been to substantially change rates. Average card rates have remained within rounding distance of 15 percent for nearly four years.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.