CitiBusiness Shift Helps Lower Average Card Rate to 14.92%

The national average annual percentage rate on new credit card offers fell to 14.92 percent this week, the first week in nearly two months that the APR has declined, according to CreditCards.com
The dip from last week’s 14.93 percent rate was spurred by a rate change on the CitiBusiness World MasterCard.
Citi lowered the card’s APR by one percentage point, from 14.24 percent to 13.24 percent.
Discover was also active this week. The issuer widened the range on two of its rewards cards: the Miles by Discover card and the Discover Escape card.
Previously, both cards advertised a five-point range of 10.99 percent to 15.99 percent. Both cards now have a wider range of 10.99 percent to 19.99 percent.

Credit Card Rate Averages
Avg. APR Last Week 6 Months ago
National Average 14.92% 14.93% 14.99%
Low Interest 10.40% 10.40% 10.73%
Balance Transfer 12.46% 12.46% 12.77%
Business 12.67% 12.75% 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 14.71% 14.73% 14.70%
Bad Credit 23.64% 23.64% 24.96%

Source: CreditCards.com

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