March 21, 2012 Weekly Credit Card Rate Report

Austin, Texas —Credit card interest rates dipped slightly on Wednesday after two straight weeks of increases, 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. Of the nine categories we track, two fell 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 15.00% 15.02% 14.96%
Low Interest 10.40% 10.40% 10.73%
Balance Transfer 12.60% 12.63% 12.77%
Business 13.13% 13.13% 12.91%
Student 13.77% 13.77% 13.77%
Cash Back 14.45% 14.45% 14.34%
Airline 14.63% 14.63% 14.44%
Reward 14.83% 14.84% 14.59%
Instant Approval 15.49% 15.49% 15.99%
Bad Credit 23.64% 23.64% 24.96%
Updated: 03-21-12

The average annual percentage rate (APR) fell to 15 percent, breaking a two-week streak in which interest rates rose. This is the fourth time this year rates have declined, after reaching a record high of 15.22 percent in December.

This week’s dip in rates was spurred by a rate change on the Citi Forward card. The bank lowered the bottom end of the card’s APR range from 14.24 percent to 12.99 percent, prompting the national average to decline. The bank did not change the top end of the card’s range, which is currently 22.99 percent.

Citi did not respond to a request for comment on the change.

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

NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to