You can find a few highlights of the report below.
- Credit card interest rates were higher across the board during the first three months of 2014, relative to the same period last year – rising an average of 2.12% on a year-over-year basis.
- Balance transfer offers continued to get sweeter, with the length of the average 0% introductory term rising 3.76% to 10.75 months during the first quarter of the year. However, we shouldn’t expect that to last long, as balance transfer offers are traditionally at their best during the first and fourth quarters of the year.
- Initial rewards bonuses are also becoming more lucrative, with the value of the average cash and points/miles-based bonuses increasing 15.5% and 10.04%, respectively, on a year-over-year basis.
- The two most common types of consumer complaints during the first quarter of 2014 should come as no surprise following the security breaches at Target and Neiman Marcus - billing issues and fraud.