CreditCards.com Weekly Credit Card Rate Report: Average card rates remain unchanged - Hawaii News Now - KGMB and KHNL

CreditCards.com Weekly Credit Card Rate Report: Average card rates remain unchanged

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SOURCE CreditCards.com

AUSTIN, Texas, Aug. 20, 2014 /PRNewswire/ -- Average rates on new credit card offers held steady 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

15.03%

15.03%

15.01%

Low Interest

10.37%

10.37%

10.33%

Balance Transfer

12.64%

12.64%

12.66%

Business

12.80%

12.80%

12.98%

Student

13.27%

13.27%

13.27%

Cash Back

14.91%

14.91%

14.71%

Airline

15.46%

15.46%

15.30%

Reward

15.00%

15.00%

15.03%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

22.73%

Source: CreditCards.com


Updated: 8-20-2014


The national average annual percentage rate (APR) remained at 15.03 percent Wednesday for the seventh consecutive week.

Issuers left promotional interest rates and 0 percent balance transfer offers unchanged this week as well.

Credit card issuers have been reluctant to change rates for most of 2014. Since Jan. 1, the national average has changed just seven times. In most of those cases, the national average went up rather than down.

Issuers have been hesitant to lower card rates for some time now. As a result, the national average has fallen just twice in the past 12 months. By contrast, it's increased 10 times since Aug. 20, 2013. 

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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