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CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates remain fixed at 15.06 percent

AUSTIN, Texas, Dec. 11, 2013 /PRNewswire/ -- Average rates on new credit card offers lingered at 15.06 Wednesday for the fourth consecutive week, according to the CreditCards.com Weekly Credit Card Rate Report.

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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

15.06%

15.06%

14.95%

Low Interest

10.46%

10.46%

10.37%

Balance Transfer

12.55%

12.55%

12.39%

Business

12.98%

12.98%

12.98%

Student

13.27%

13.27%

13.16%

Cash Back

14.62%

14.62%

14.85%

Airline

14.51%

14.51%

14.63%

Reward

14.91%

14.91%

14.78%

Instant Approval

28.00%

28.00%

28.00%

Bad Credit

23.48%

23.48%

23.64%

Source: CreditCards.com




Updated: 12-11-2013

This is the 12th straight week that interest rates have remained above 15 percent.

None of the cards tracked by CreditCards.com featured new interest rates this week. Chase continued to offer some credit card applicants an APR of 20.24 percent on the BP Visa, which is one percentage point higher than the card's lowest available rate.

However, the gas card's slightly higher APR hasn't affected the national average because Chase continues to offer a single 19.24 percent APR to some applicants.

Issuers frequently test new interest rates by offering different rates to online applicants. This is the third week that CreditCards.com has seen both a 19.24 percent APR and a 20.24 percent APR on the BP Visa card.

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.

SOURCE CreditCards.com

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