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CreditCards.com Weekly Credit Card Rate Report: Credit card interest rates rise

AUSTIN, Texas May 23, 2012

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

­The average is composed of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.

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

Credit Card Averages

Avg. APR

Last week

6 months ago

National Average

14.93%

14.91%

15.19%

Low Interest

10.40%

10.40%

10.84%

Balance Transfer

12.46%

12.43%

13.00%

Business

12.75%

12.67%

13.13%

Student

13.77%

13.77%

13.77%

Cash Back

14.24%

14.24%

14.86%

Airline

14.63%

14.63%

14.54%

Reward

14.73%

14.70%

14.86%

Instant Approval

15.49%

15.49%

15.49%

Bad Credit

23.64%

23.64%

24.96%

CreditCards.com

Updated: 05-23-2012

The national average annual percentage rate (APR) on new card offers rose to 14.93 percent Wednesday, after five weeks where interest rates hadn’t budged.

The last time interest rates remained unchanged that long was in the spring of 2011.

Three out of the nine categories CreditCards.com tracks rose. Those categories included balance transfer, rewards and business credit cards.

http://www.creditcards.com/rate-report

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

SOURCE CreditCards.com

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