CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain at 15.01 percent for 6th week - WNEM TV 5

CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain at 15.01 percent for 6th week

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SOURCE CreditCards.com

AUSTIN, Texas, June 11, 2014 /PRNewswire/ -- Interest rates on new card offers held firm this 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%

15.06%

Low Interest

10.37%

10.37%

10.46%

Balance Transfer

12.64%

12.64%

12.55%

Business

12.80%

12.80%

12.98%

Student

13.27%

13.27%

13.27%

Cash Back

14.91%

14.91%

14.62%

Airline

15.30%

15.30%

14.51%

Reward

14.97%

14.97%

14.91%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

23.48%

Source: CreditCards.com


Updated: 6-11-2014


The national average annual percentage rate (APR) remained stuck at 15.01 percent Wednesday for the sixth consecutive week.

None of cards tracked by CreditCards.com advertised new interest rates. Issuers left promotional APRs and balance transfers unchanged this week as well.

Most credit card issuers have left interest rates unchanged throughout 2014 and show few signs of changing course. Rates have fallen just twice since Jan. 1 -- each time by an incremental amount.

Meanwhile, interest rates have increased three times since the beginning of the year. But each increase has been tiny. As a result, the national average hasn't risen above 15.02 percent since Jan. 29. The average APR for the year is currently 15.01 percent.

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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