December 8, 2010 Weekly Credit Card Rate Report

Austin, Texas—The national average interest rate on new credit card offers dropped this week, according to the Weekly Credit Card Rate Report, after Capital One adjusted rates on a handful of cards.   

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 one and were unchanged in three.

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 14.63% 14.74% 14.23%
Low Interest 11.91% 11.87% 12.04%
Cash Back 12.48% 12.59% 12.63%
Balance Transfer 12.73% 12.80% 12.88%
Business 12.91% 12.91% 12.96%
Student 13.96% 14.49% 13.96%
Airline 14.24% 14.45% 14.46%
Reward 14.29% 14.39% 14.34%
Instant Approval 15.99% 15.99% 15.99%
Bad Credit 24.64% 24.64% 19.75%
Updated: 12-08-10

Capital One switched five cards from single APR to ranges. Four of those cards now have a range with a minimum APR below the card’s previous rate. Since we factor only the bottom end of any ranges into our calculations, Cap One's adjustments lowered the national average.

Rates have declined three of the last four weeks, after reaching record highs in November. Experts say that credit remains difficult to obtain, with credit limits trimmed over recent months and projections for a gap between credit demand and supply.  

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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