December 30, 2009 Weekly Credit Card Rate Report

Austin, Texas — Interest rates on new credit card offers edged slightly lower again this week, according to the Weekly Credit Card Rate Report, but experts call recent rate declines uncharacteristic of a larger upward trend.

The national average credit card annual percentage rate is comprised of about 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 (teaser) rates are not included in the calculation. Among the average APRs in nine card categories, two dipped lower and seven were unchanged.    

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 12.97% 12.98% 11.94%
Business 10.74% 10.74% 11.24%
Low Interest 11.97% 11.97% 10.41%
Cash Back 12.49% 12.49% 11.20%
Balance Transfer 12.03% 12.09% 9.98%
Reward 13.40% 13.42% 12.03%
Instant Approval 13.32% 13.32% 12.49%
Airline 13.60% 13.60% 13.22%
Bad Credit 13.74% 13.74% 14.29%
Student 14.51% 14.51% 14.45%
Updated: 12-30-09

Recent declines mark the first time since June that the national average has fallen for two consecutive weeks. However, Bank of America's rate cuts on two cards during that period only brought the average APR down slightly, with experts predicting that the longer-term trend will see rates move higher.

That means cardholders can expect to pay more to borrow on plastic, as banks raise APRs and reduce access to credit to guard against losses associated with high unemployment and increasing regulation.

The credit card rate survey is conducted weekly, using offer data from the leading U.S. card issuers' 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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