December 27, 2011 Weekly Credit Card Rate Report

Austin, Texas—Interest rates on new credit card offers fell for a second straight 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 15.14% 15.19% 14.84%
Low Interest 10.62% 10.84% 10.73%
Balance Transfer 12.85% 13.00% 12.78%
Business 13.13% 13.13% 13.07%
Student 13.77% 13.77% 13.77%
Airline 14.54% 14.54% 14.31%
Cash Back 14.74% 14.86% 13.90%
Reward 14.82% 14.86% 14.41%
Instant Approval 15.49% 15.49% 15.99%
Bad Credit 24.96% 24.96% 24.96%
Updated: 12-27-11

The average annual percentage rate (APR) dropped to 15.14 percent from last week's 15.19 percent.  That is down nearly one-tenth of a percentage point from the national APR average record, 15.22 percent -- set in mid December.

U.S. Bank and Chase spurred this week's decrease. U.S. Bank changed the low end of the APR range offered for its U.S. Bank Visa Platinum card.  The card had carried an interest rate of 11.99 percent to 23.99 percent before dropping to 9.99 percent to 23.99 percent.

Chase lowered the APR for its Freedom card from17.99 percent to 14.99 percent.  The change comes in the wake of an overhaul to most of Chase's business and personal credit lines throughout December.

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

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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