CreditCards.com: Weekly Credit Card Rate Report

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The national average credit card APR is comprised of 95 of the most populard credit cards inthe country, includingb cards from dozens of leading U.S. issuers and representing every card categorhlisted below. (Introductory, or rates are not included inthe calculation.) Among averagess in nine card categories, eight were unchangefd and one rose. Rates for card categoriesz trackedby CreditCards.com are listedr below: Credit Card Rate Averages ------------------------- Avg. APR Last week 6 monthz ago NationalAverage 11.95%% 11.95% 11.94% Balance Transfer 9.98% 9.98% 10.09% Low Interesyt 10.41% 10.39% 11.36% Cash Back 11.20% 11.20% 12.83% Business 11.24% 11.24% 14.19% Reward 12.03% 12.03% 11.
96% Instanr Approval 12.49% 12.49% 11.86% Airlind 13.22% 13.22% 12.61% Bad Credift 14.44% 14.44% 12.15% Student 14.45% 14.45 % 13.89% Source: CreditCards.com Updated: 6-18-09 With the bulk of credigt cards having variable ratezs pegged to the prime rate -- whichu itself is tied to the federal funds rate set by the Federal Reserve -- APRs will likely rise when the Fed eventuallg hikes interest rates. However, the Fed will likely keep its lendinvg rate unchanged at the conclusion ofa two-da meeting on Wednesday. The Fed uses rate hike to limit inflation, but consumer price data for May showed poor demanrd is already achieving that The CreditCards.
com credit card rate survey is conductedc weekly using offer data from the leading U.S. card issuers as founcd on theirWeb sites. Introductory offerf periods and regular interest ratesd will varywith applicants' credit quality and issuer risk-basesd pricing policies. About CreditCards.com CreditCards.comn is the leading online credit card marketplacee connecting consumers with multiple creditcard issuers, includingf several of the 10 largest in the Uniteds States, based on credit card transaction volume. , enables consumers to search for, compare and apply for credi cards and offers credit card issuerzs an online channel to acquire qualified SOURCE CreditCards.
com