AUSTIN, Texas, June 25, 2014 /PRNewswire/ -- Interest rates on new card offers remained locked in place this week, according to the CreditCards.com Weekly Credit Card Rate Report.
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: 6-25-2014 | |||
The national average annual percentage rate (APR) remained fixed at 15.01 percent Wednesday for the 8th consecutive week.
Credit card issuers have been slow to change card terms for most of 2014. For example, it's been nearly two months since the last time a credit card issuer revised the APR on a card tracked by CreditCards.com. Meanwhile, the national average APR has changed just five times since Jan. 1. Issuers left promotional terms unchanged this week as well.
Chase did remove several cards from its promotional pages this week, including the Sapphire card. However, it left the cards' premium versions, such as the Sapphire Preferred card, alone. It's not yet clear whether the cards will eventually return.
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
