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CreditCards.com: Weekly Credit Card Rate Report

AUSTIN, Texas Feb. 23, 2011

http://photos.prnewswire.com/prnh/20090210/CCLOGO

The average is composed of 100 of the most popular credit cards, including cards from dozens of leading U.S. issuers. Introductory (teaser) rates are not included in the calculation. Among the nine card categories, average annual percentage rates (APRs) held steady in eight and rose in one.  

Rates for card categories tracked by CreditCards.com are listed below:

Credit Card Averages

Avg. APR

Last week

6 months ago

National Average

14.74%

14.73%

14.35%

Low Interest

12.03%

12.03%

12.11%

Cash Back

12.48%

12.48%

12.49%

Business

12.91%

12.91%

12.85%

Balance Transfer

12.93%

12.93%

12.81%

Student

13.42%

13.42%

14.49%

Reward

14.36%

14.36%

14.40%

Airline

14.39%

14.30%

14.37%

Instant Approval

15.99%

15.99%

15.99%

Bad Credit

24.95%

24.95%

21.04%

Source: CreditCards.com

Updated: 2-23-2011

Chase prompted this week’s rate change by increasing the APR on the United Mileage Plus Visa Signature card by 1 percentage point from 13.24 percent to 14.24 percent. No other card issuers that CreditCards.com tracks made APR moves this week, making this the eighth straight week that the national average APR has either been unchanged or has increased by just one hundredth of a percentage point.

Meanwhile, federal regulators and credit card issuers observed an important anniversary Tuesday. Exactly one year earlier, major provisions of the Credit CARD Act of 2009 took effect, prompting issuers to re-evaluate their credit card offers.

The CreditCards.com credit card rate survey is conducted weekly, using offer data from the leading U.S. card issuers’ websites. Introductory offer periods and regular interest rates will vary with applicants’ credit quality and issuer risk-based pricing policies.

About CreditCards.com

the United States http://www.creditcards.com

SOURCE CreditCards.com

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