Wednesday, September 21, 2016 Weekly Credit Card Rate Report: Average card APR remains unchanged at 15.22 percent

Austin, Texas — The average APR on new card offers remained near record highs this week, according to the 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 are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 15.22% 15.22% 15.16%
Low Interest 11.98% 11.98% 11.96%
Balance Transfer 14.39% 14.39% 14.35%
Business 13.12% 13.12% 13.12%
Student 13.42% 13.42% 13.42%
Cash Back 15.32% 15.32% 15.21%
Airline 15.13% 15.13% 15.17%
Reward 15.30% 15.30% 15.26%
Instant Approval 18.04% 18.04% 18.04%
Bad Credit 22.86% 22.86% 22.56%
Updated: 9-21-16

For the fourth week in a row, the national average annual percentage rate remained at 15.22 percent — an almost five-year high.

None of the cards tracked by advertised new interest rates. Promotional rates remained unchanged as well.

This is the 38th week in a row that the national average APR has stayed above 15.10 percent. Meanwhile, the average APR for the year rose to 15.18 percent — an all-time high.

Rates haven't stayed this high for this long since began tracking rates in mid-2007. Rates on new and current card offers are expected to rise again after the Federal Reserve raises its benchmark interest rate, the federal funds rate.

The credit card rate survey (permalink: 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.

About 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.,, 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:


Matt Schulz
Senior Industry Analyst
512-996-8663, ext. 103

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