August 27, 2009 Weekly Credit Card Rate Report

Austin, Texas — The national average annual percentage rate on new credit card offers remained at 12.17 percent this week, according to the Weekly Credit Card Rate Report, as banks paused after a recent run of APR increases.

The national average credit card APR is comprised of 95 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, or teaser, rates are not included in the calculation.) The averages in nine card categories were unchanged. 

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 12.17% 12.17% 12.35%
Balance Transfer 10.14% 10.14% 11.04%
Low Interest 10.62% 10.62% 12.16%
Cash Back 11.77% 11.77% 12.39%
Business 11.07% 11.07% 16.74%
Reward 12.16% 12.16% 11.83%
Instant Approval 12.99% 12.99% 11.29%
Airline 13.48% 13.48% 12.26%
Bad Credit 14.29% 14.29% 12.15%
Student 14.45% 14.45% 15.94%
Updated: 08-27-09

Banks increased APRs over recent months both in advance of new laws and to insulate themselves from economic challenges. However, lenders now appear to be leaving rates alone, as the laws begin to take effect and the economic recovery gets under way.

The first phase of the new Credit CARD Act began on Aug. 20, enabling cardholders to opt out of interest rate hikes and other major changes. Meanwhile, signaling some borrower strength, credit bureau TransUnion reported earlier this week that card delinquency rates declined in the second quarter.

The credit card rate survey is conducted weekly, using offer data from the leading U.S. card issuers as found on their Web sites. 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 several 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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