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CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates hold steady for a 7th week

AUSTIN, Texas, April 2, 2014 /PRNewswire/ -- Average rates on new credit card offers remained locked at 15.01 percent Wednesday for the seventh consecutive week, according to the CreditCards.com Weekly Credit Card Rate Report.

CREDITCARDS.COM logo.

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

National Average

15.01%

15.01%

15.02%

Low Interest

10.33%

10.33%

10.46%

Balance Transfer

12.66%

12.66%

12.49%

Business

12.98%

12.98%

12.98%

Student

13.27%

13.27%

13.27%

Cash Back

14.84%

14.84%

14.62%

Airline

15.30%

15.30%

14.51%

Reward

14.97%

14.97%

14.86%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

23.48%

Source: CreditCards.com

Updated: 4-02-2014

None of the cards tracked by CreditCards.com advertised new interest rates. Promotional terms, including 0 percent APRs and balance transfers, also remained unchanged.

These days, changes to credit card terms are relatively rare. Interest rates are especially sticky. The national average APR, for example, has changed just twice since Jan. 1.

Credit card issuers are more likely to change promotional terms. But even those changes are rare.

Since Jan. 1, for example, four issuers have revised promotional terms on certain cards. Two issuers shortened the amount of time cardholders could take advantage of an offer. One issuer expanded a promotional offer, and one issuer introduced a temporary offer, then canceled it.

The CreditCards.com credit card rate survey (permalink: http://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.

About CreditCards.com
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, http://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.

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SOURCE CreditCards.com

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