August 11, 2010 Weekly Credit Card Rate Report

Austin, Texas — Interest rates on new credit card offers declined again this week, according to the Weekly Credit Card Rate Report, after Capital One lowered the rate on a card product.  

The average is composed of about 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. Among the nine card categories, average annual percentage rates (APRs) declined in five, rose in three and were unchanged in one. 

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 14.34% 14.37% 14.15%
Business 12.85% 12.96% 11.32%
Low Interest 12.11% 12.31% 12.17%
Cash Back 12.49% 12.63% 12.56%
Balance Transfer 12.81% 12.97% 12.71%
Reward 14.40% 14.57% 13.77%
Instant Approval 15.99% 15.99% 18.41%
Airline 14.37% 14.30% 14.17%
Bad Credit 20.89% 20.32% 24.86%
Student 14.49% 13.96% 14.47%
Updated: 08-11-10

The national average fell for the third time in four weeks, dropping to a level not seen since mid-June.

Spurring the decline, Capital One lowered the APR for its Venture One Rewards card from 15.9 percent to 13.9 percent. Cap One didn't respond to a request for comment on what prompted the change.

Interest rates were also driven lower after tweaked its database, adding some cards and taking discontinued products away, in an effort to present a more representative sampling of offers in the credit card marketplace.

The 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 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.,, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.  


Contact:, Austin
Ben Woolsey, 512-996-8663, ext. 106
Director of Marketing

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