{
  "version": "purchase-apr-benchmarks@2026-09-09.1",
  "checkedDate": "2026-09-09",
  "nextReview": "2026-12-09",
  "reviewStatus": "draft; independent review pending",
  "loan": {
    "publisher": "LendingTree",
    "url": "https://www.lendingtree.com/personal/marketplace-data/",
    "period": "Q4 2025",
    "measure": "average best conditional offer APR to average all-offer APR; endpoints are different averages, not a borrower offer range",
    "population": "Marketplace users shown offers for $5,000\u2013$54,999 and 36\u201383 months; not funded loans",
    "tiers": [
      {
        "label": "Poor",
        "scores": "under 580",
        "low": 29.05,
        "high": 30.25
      },
      {
        "label": "Good",
        "scores": "670\u2013739",
        "low": 20.61,
        "high": 23.27
      },
      {
        "label": "Excellent",
        "scores": "800 and above",
        "low": 12.15,
        "high": 15.75
      }
    ]
  },
  "card": {
    "publisher": "CFPB",
    "url": "https://www.consumerfinance.gov/data-research/research-reports/credit-card-data-small-issuers-offer-lower-rates/",
    "period": "January\u2013June 2023",
    "measure": "small-issuer median purchase APR to large-issuer median purchase APR; historical benchmarks, not current offers or borrower min/max",
    "population": "643 cards from 156 issuers in the Terms of Credit Card Plans survey",
    "tiers": [
      {
        "label": "Poor",
        "scores": "619 or less",
        "low": 20.62,
        "high": 28.49
      },
      {
        "label": "Good",
        "scores": "620\u2013719",
        "low": 18.15,
        "high": 28.2
      },
      {
        "label": "Excellent",
        "sourceLabel": "Great",
        "scores": "720 and above",
        "low": 15.24,
        "high": 22.99
      }
    ]
  },
  "limits": [
    "Credit labels have different score boundaries across publishers. Do not interpret matching labels as matched borrower groups.",
    "Loan table explicitly labels its APRs Q4 2025 even though other tables on the source page refer to Q2 2026. Retain each table's period.",
    "Card benchmarks are historical and do not describe rates available today.",
    "Endpoints are published group averages or medians, not individual approval ranges. Fair and very-good loan tiers are not represented by these three shortcuts; enter an actual APR instead.",
    "No matched causal comparison, national funded average, approval prediction, or personalized rate estimate is supported."
  ],
  "model": {
    "id": "loan-vs-credit-card",
    "version": "2026-09-09.1",
    "formula": "payment = cash financed \u00d7 (APR/1200) / (1 \u2212 (1+APR/1200)^\u2212months); at zero APR use cash/months",
    "assumptions": [
      "APR-equivalent cash-flow estimate with equal monthly payments; does not reconstruct a lender's fee treatment or compute statutory APR.",
      "Same purchase amount and repayment months on both paths. Fees already represented in loan APR are not added separately.",
      "Card APR fixed, no new charges, daily-interest timing, annual fees, late fees, rewards, or promo expirations. Card payment is a payoff target, not a minimum."
    ],
    "sources": [
      "https://www.consumerfinance.gov/ask-cfpb/what-is-the-difference-between-a-loan-interest-rate-and-the-apr-en-733/",
      "https://www.consumerfinance.gov/ask-cfpb/what-is-a-grace-period-for-a-credit-card-en-47/"
    ]
  }
}