In this paper, analysis of an adaptive rate convolutionally coded multicarrier direct sequence code division multiple-access (DS/CDMA) system is considered. In order to accommodate a number of coding rates easily and make the encoder and decoder structure simple, we use the rate-compatible punctured convolutional (RCPC) code. We obtain data throughputs at several coding rates, and choose the coding rate that has the highest data throughput in the signal-to-interference and noise ratio (SINR) sense. To achieve maximum data throughput, a rate adaptive system is proposed based on the channel state information (the SINR estimate). The SINR estimate is obtained by the soft decision Viterbi decoding metric. We show that the proposed rate adaptive convolutionally coded multicarrier DS/CDMA system can enhance spectral efficiency and provide frequency diversity.