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CreditCards.com: Weekly Credit Card Rate Report

AUSTIN, Texas Jan. 26, 2011

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 listed below. Introductory (teaser) rates are not included in the calculation. The average in all nine categories remained the same after banks left rates alone.

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

Credit Card Averages

Avg. APR

Last week

6 months ago

National Average

14.72%

14.72%

14.42%

Low Interest

11.98%

11.98%

12.18%

Cash Back

12.48%

12.48%

12.63%

Balance Transfer

12.90%

12.90%

12.88%

Business

12.91%

12.91%

12.96%

Student

13.42%

13.42%

13.96%

Airline

14.30%

14.30%

14.30%

Reward

14.36%

14.36%

14.70%

Instant Approval

15.99%

15.99%

15.99%

Bad Credit

24.95%

24.95%

20.32%

Source: CreditCards.com

Updated: 1-26-2011

We found no APR changes for any of the cards in our database this week, leaving the national average unchanged for the fifth time since the beginning of December. The national average has hovered above 14.6 percent for the past 14 weeks, reaching a record high of 14.78 percent in mid-November. Prior to last October, the national APR average had risen above 14.6 percent only once in more than three years, according to CreditCards.com data.    

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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