December 29, 2010 Weekly Credit Card Rate Report

Austin, Texas—Interest rates on new credit card offers remained unchanged this week, according to the Weekly Credit Card Rate Report, as banks wrapped up a turbulent year in which interest rates reached record highs. 

The average is composed of 100 of the most popular credit cards, including cards from dozens of leading U.S. issuers. Introductory (teaser) rates are not included in the calculation. The average in all nine card categories remained the same after banks left rates alone.

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 14.68% 14.68% 14.43%
Low Interest 11.91% 11.91% 12.04%
Cash Back 12.48% 12.48% 12.63%
Balance Transfer 12.82% 12.82% 12.93%
Business 12.91% 12.91% 12.96%
Student 13.31% 13.31% 13.96%
Airline 14.24% 14.24% 14.46%
Reward 14.34% 14.34% 14.75%
Instant Approval 15.99% 15.99% 15.99%
Bad Credit 24.95% 24.95% 20.32%
Updated: 12-29-10

We found no APR changes for any of the cards in our database this week, leaving the national average unchanged for the third time in five weeks.

Still, it has been a costly year for credit cardholders. According to data, interest rates have jumped dramatically since Jan. 1, 2010, when the average new card APR was 12.97 percent. As a result, a typical cardholder who borrowed $5,000 on a credit card today and paid $150 monthly at today’s average APR would have to spend $229 more to pay off the balance than would have been required when 2010 began.

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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