August 22, 2012 Weekly Credit Card Rate Report

Austin, Texas—Interest rates on new credit card offers ticked up this week, according to the Weekly Credit Card Rate Report.

The average is comprised 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 are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 14.98% 14.97% 14.91%
Low Interest 10.40% 10.40% 10.40%
Balance Transfer 12.62% 12.62% 12.60%
Business 13.13% 13.13% 13.13%
Student 13.16% 13.02% 13.77%
Cash Back 14.47% 14.43% 14.45%
Airline 14.63% 14.63% 14.54%
Reward 14.82% 14.81% 14.73%
Instant Approval 15.49% 15.49% 15.49%
Bad Credit 23.64% 23.64% 23.41%
Updated: 08-22-12

The national average annual percentage rate (APR) on new card offers rose to 14.98 percent Wednesday, after remaining stuck at 14.97 percent for four straight weeks.

This week’s rise in rates was spurred by a small, single point rate hike on a student credit card. As a result, average rates on student cards went up slightly, from 13.02 percent to 13.16 percent.

Despite the hike in rates, however, students are still paying less to carry a balance than they did before the Credit CARD Act of 2009 went into effect. Before the CARD Act became effective, average rates on student cards hovered well above 14 percent. Since then, student cards have become significantly less expensive—but also more regulated and harder for students to get.

The credit card rate survey (permalink: 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.

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

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