CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates rise to 15.01 percent - KAUZ-TV: Newschannel 6 Now | Wichita Falls, TX

CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates rise to 15.01 percent

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SOURCE CreditCards.com

AUSTIN, Texas, Feb. 19, 2014 /PRNewswire/ -- Interest rates on new credit card offers inched up 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 Averages


Avg. APR

Last week

6 months ago

National Average

15.01%

15.00%

14.95%

Low Interest

10.33%

10.46%

10.46%

Balance Transfer

12.66%

12.55%

12.44%

Business

12.98%

12.98%

12.98%

Student

13.27%

13.27%

13.27%

Cash Back

14.71%

14.62%

14.51%

Airline

15.30%

14.51%

14.63%

Reward

15.03%

14.91%

14.77%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

22.73%

22.73%

23.48%

Source: CreditCards.com

Updated: 2-19-2014

The national average annual percentage rate (APR) rose to 15.01 percent Wednesday after remaining at 15 percent for three weeks. This is the first time rates have increased since November 2013.

Unlike previous rate increases, however, this week's change was due to a minor reshuffling of the CreditCards.com database. Occasionally, CreditCards.com swaps out cards in order to more accurately reflect the current card market.

This week, CreditCards.com replaced several Discover cards that the issuer is no longer promoting online. "Currently, all of our online marketing is geared toward the Discover 'It' card," confirmed Discover card spokesman Matthew Towson in an email.

Cardholders who wish to apply for an alternative Discover card, such as the Miles card, can still apply by phone by calling 1-800-Discover.

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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