Average Credit Card Rates – November 2015

average-card-ratesThe present common bank card fee for the general market is 18.37%, a mean that has now held regular for three months straight. Nevertheless, this 18.37% fee continues to be the best common seen throughout the final yr. Have we reached the highest?

By comparability, the typical fee presently final yr was 17.93%, nearly half a proportion level decrease (44 foundation factors).

Under you’ll discover present common charges in a number of card classes:

  • The typical fee for low curiosity bank cards with no rewards remained at 15.73% this month. (Final yr’s common fee on this class was 15.02%.)
  • The typical fee for rewards bank cards remained at 18.55%. (Final yr’s common fee presently: 17.88%.)
  • The typical fee for division retailer / retail bank cards remained at 22.61% this month. (The retail bank card common, whereas very excessive, is definitely down barely from final yr presently, when a 22.84% fee was calculated.)

Credit Card Catalog computes these averages by monitoring a consultant pool of bank cards throughout all segments over time. Credit playing cards provided by main bank card corporations in addition to smaller banks are included, although extra weight is given to playing cards issued by the bigger banks that make up the overwhelming majority of bank cards in circulation.

In computing common charges, Credit Card Catalog makes an attempt to account for the a number of fee tiers at which customers could also be accredited for a lot of playing cards. For instance, Chase might approve new holders of its Slate bank card at certainly one of three fee tiers: 12.99%, 17.99%, or 22.99%.

If you want additional details about our fee calculations, or would love commentary on the present fee marketplace for a information story, contact Adam Jusko, CEO of Credit Card Catalog, at adam@creditcardcatalog.com.


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