AUSTIN, Texas, Dec. 16, 2015 /PRNewswire/ -- Interest rates on new credit card offers inched up 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 |
14.99% |
14.98% |
14.99% |
| 11.67% |
11.66% |
11.62% |
|
| 14.08% |
14.08% |
14.13% |
|
| 12.87% |
12.85% |
12.85% |
|
| 13.17% |
13.14% |
13.14% |
|
| 15.27% |
15.26% |
15.28% |
|
| 14.92% |
14.91% |
15.10% |
|
| 15.12% |
15.11% |
15.12% |
|
| 18.00% |
18.00% |
17.93% |
|
| 22.75% |
22.73% |
22.73% |
|
| Source: CreditCards.com |
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| Updated: 12-16-2015 |
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The national average annual percentage rate (APR) rose to 14.99 percent Wednesday after Capital One increased rates on nearly all of its cards.
The nationwide issuer subtly raised interest rates this week by increasing the APRs on most of its cards by 0.09 percent. For example, the QuicksilverOne card now charges new cardholders an APR of 22.99 percent, up from 22.90 percent. Capital One also increased the Journey Student Rewards card's APR from 19.80 percent to 19.99 percent.
Variable rate cards tied to the U.S. prime rate may also receive a small rate hike this week. The Federal Reserve is expected to raise interest rates for the first time since June 2006. By law, card issuers may pass along these increases without notice.
The CreditCards.com credit card rate survey (permalink: http://www.creditcards.com/rate-report) is conducted weekly, using offer data from 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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