September 24, 2014
Austin, Texas—Average rates on new credit card offers dipped this week for the first time in more than five months, 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) fell to 15.05 percent Wednesday after remaining stuck at 15.06 percent for four weeks.
Unlike previous rate changes, however, this week's change was due to a reshuffling of the CreditCards.com database rather than a terms change.
Citi is no longer offering the Citi Dividend Card for College Students online or over the phone. The card was replaced in the database with a similar cash-back card: the Discover "it" Chrome for Students card. The new Chrome card was introduced to the market earlier this year and advertises a slightly lower minimum APR of 12.99 percent. The card also features a 0 percent promotional APR for 6 months.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.