December 21, 2011 Weekly Credit Card Rate Report

Austin, Texas—Interest rates on new credit card offers fell from their record highs this week, according to the Weekly Credit Card Rate Report.

The average is composed 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 15.19% 15.22% 14.83%
Low Interest 10.84% 11.17% 10.73%
Balance Transfer 13.00% 13.08% 12.76%
Business 13.13% 13.13% 13.07%
Student 13.77% 13.77% 13.77%
Airline 14.54% 14.54% 14.24%
Cash Back 14.86% 14.86% 13.87%
Reward 14.86% 14.86% 14.40%
Instant Approval 15.49% 15.49% 15.99%
Bad Credit 24.96% 24.96% 24.96%
Updated: 12-21-11

The average annual percentage rate (APR) dipped to 15.19 percent from last week's record high of 15.22 percent.  The drop comes a week after the biggest one-week increase of the year sent the average to unprecedented heights.
Chase prompted the decrease by lowering the APR for its Slate card to 13.99 percent. It's the card's second change in as many weeks. The previous week, it changed to a flat rate of 16.99 percent from a range of 11.99 percent to 21.99 percent.

Steve O'Halloran, Chase's Public Affairs Director, confirmed the latest decrease.

"As you know, Chase offers a number of cards with different rates and benefits, which is why we encourage customers to choose the card that is best for them," O'Halloran said.

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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