CreditCards.com: Weekly Credit Card Rate Report

Mar 23, 2011, 17:42 ET from CreditCards.com

AUSTIN, Texas, March 23, 2011 /PRNewswire/ -- Interest rates on credit card offers remained unchanged this week, according to the CreditCards.com Weekly Credit Card Rate Report, continuing a trend seen throughout 2011.  

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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

14.65%

14.65%

14.14%

Low Interest

11.18%

11.18%

11.99%

Cash Back

13.41%

13.41%

12.31%

Business

12.91%

12.91%

12.85%

Balance Transfer                                  

12.78%

12.78%

12.68%

Student

13.42%

13.42%

14.05%

Airline

14.33%

14.33%

14.14%

Reward

14.32%

14.32%

14.31%

Instant Approval

15.99%

15.99%

15.99%

Bad Credit

23.95%

23.95%

20.64%

Source: CreditCards.com

Updated: 3-23-2011




For six of the first 12 weeks this year, the national average stayed fixed.  In 2010, the national average was unchanged only 11 times throughout the entire year.

Card issuers are still tweaking rates and offers, however.  For example, Citi recently began offering multiple APRs for its Forward card, varying between a single rate of 14.24 percent to a range of 12.99 percent to 19.99 percent.  Since only the low ends of the ranges are included in our calculations, Citi's move did not impact the national average.

Offers can vary based on many factors, including when and where the banks' sites are viewed.

These differences are often considerable and drive home the importance of consumers shopping around for the best deals.

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

CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, http://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.  

SOURCE CreditCards.com



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