Average Credit Card Rate Offered Holds at 14.91%

The average annual percentage rate (APR) on new credit card offers remained unchanged at 14.91 percent this week, marking the ninth week of 17 this year that rates have not moved, according to creditcards.com
The lack of rate changes on credit card promotions is relatively unusual.
In the first four of the last six weeks, at least 11 out of 100 cards advertised new promotional balance transfer offers and eight out of 100 cards featured new introductory purchase rates, said creditcards.com
The credit card rate survey 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.

Credit Card Rate Averages
Avg. APR Last Week 6 Months ago
National Average 14.91% 14.91% 14.99%
Low Interest 10.40% 10.40% 10.73%
Balance Transfer 12.43% 12.43% 12.77%
Business 12.67% 12.67% 13.13%
Student 13.77% 13.77% 13.77%
Cash Back 14.24% 14.24% 14.70%
Airline 14.63% 14.63% 14.44%
Reward 14.70% 14.70% 14.70%
Instant Approval 15.49% 15.49% 15.99%
Bad Credit 23.64% 23.64% 24.96%
Source: CreditCards.com

 

Leave a Reply

Your email address will not be published. Required fields are marked *