Average Credit Card Rate at 14.91% for 3rd Week

The average annual percentage rate (APR) on new credit card offers remained unchanged at 14.91 percent this week, the 10th time this year that rates have not moved, according to creditcards.com
This is also the third week in a row that promotional credit card offers remained the same for all 100 of the cards that creditcards.com tracks – including promotional balance transfer offers, introductory purchase rates and annual fees.
The card site said the stagnant rates coincide with a slight loosening of overall lending standards by banks and credit card issuers, a trend reported in the most recent Senior Loan Officer Survey by the Federal Reserve.
Six months ago, the national credit card APR was slightly higher at 14.98 percent.
Here’s the breakdown:

Credit Card Rate Averages
Avg. APR Last Week 6 Months ago
National Average 14.91% 14.91% 14.98%
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% 14.65%
Airline 14.63% 14.63% 14.44%
Reward 14.70% 14.70% 14.69%
Instant Approval 15.49% 15.49% 15.99%
Bad Credit 23.64% 23.64% 24.96%
Source: CreditCards.com

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