AUSTIN, Texas, Feb. 12, 2014 /PRNewswire/ -- Interest rates on new credit card offers remained untouched 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 Averages -------------------- Avg. APR Last week 6 months ago National Average 15.00% 15.00% 14.95% Low Interest 10.46% 10.46% 10.46% Balance Transfer 12.55% 12.55% 12.44% Business 12.98% 12.98% 12.98% Student 13.27% 13.27% 13.27% Cash Back 14.62% 14.62% 14.51% Airline 14.51% 14.51% 14.63% Reward 14.91% 14.91% 14.77% Instant Approval 28.00% 28.00% 28.00% Bad Credit 22.73% 22.73% 23.48% Source: CreditCards.com Updated: 2-12-2014
None of the cards tracked by CreditCards.com advertised new interest rates. As a result, the national average annual percentage rate (APR) remained at 15 percent Wednesday for the third straight week.
Credit card terms have remained stable for three years now, with average APRs ticking up very slowly, according to CreditCards.com data.
The average APR for 2014 is currently 15.03 percent. In 2013, the average APR for the year was 14.98 percent and in 2012, it was 14.96 percent.
The national average has remained at 15 percent or above for the past 21 consecutive weeks. Average card APRs have also remained above 14.9 percent for nearly two years. The last time average rates fell below 14.9 percent was in February 2012.
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.
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.