Average rates on new card offers remained unchanged this week, according to the CreditCards.com Weekly Credit Card Rate Report. According to a release, the average is comprised of 100 of the most popular credit cards in the country, including cards from dozens of U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation. The national average annual percentage rate (APR) remained locked at 15.06 percent Wednesday for the 10th consecutive week. None of the cards tracked by CreditCards.com advertised new terms this week. Promotional offers, including 0 percent balance transfers and introductory APRs, also remained unchanged. Credit card APRs are currently at their highest point since early 2012, and issuers show few signs of substantially lowering rates any time soon. In 2013, for example, the national average fell just five times in 12 months. In 2012, it fell just nine times. The small number of declines underscores just how reluctant issuers have been in recent years to lower credit card APRs. The national average has remained above 15 percent for the past 18 weeks. More information: www.creditcards.com ((Comments on this story may be sent to email@example.com ))
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- U.S. to Relinquish Gov't Control Over Internet
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Some California Cities Seeking Water Independence
- Will Missing Malaysian Jet Prompt Aviation System Change?