The national interest rate average on new credit card offers remained at 14.96 percent this week, despite a 1-point shift upward on the Chase Slate card, according to CreditCards.com.
Chase tested a new online offer on the its Slate card, which is 1 percentage point above its earlier rate. But that didn’t affect the national average because the card’s lower rate offer is still available.
Previously, consumers who accessed the Slate card online were offered an APR range of 11.99 percent to 21.99 percent. Now, some applicants may be offered a slightly higher range of possible APRs, starting at 12.99 percent and topping out at 22.99 percent.
Credit card issuers frequently test new online offers by temporarily offering multiple rates, CreditCards.com said.
This is the sixth consecutive week that the national average annual percentage rate (APR) remained unchanged.
The average is derived from 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.
|Credit Card Rate Averages|
|Avg. APR||Last Week||6 Months ago|
Source: CreditCards.com; Updated: 7-31-13