May 30, 2012 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.

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 14.93% 14.93% 14.99%
Low Interest 10.40% 10.40% 10.73%
Balance Transfer 12.46% 12.46% 12.77%
Business 12.75% 12.75% 13.13%
Student 13.77% 13.77% 13.77%
Cash Back 14.24% 14.24% 14.70%
Airline 14.63% 14.63% 14.44%
Reward 14.73% 14.73% 14.70%
Instant Approval 15.49% 15.49% 15.99%
Bad Credit 23.64% 23.64% 24.96%
Updated: 05-30-12

The national average annual percentage rate (APR) on new card offers held steady at 14.93 percent Wednesday after shooting up the previous week for the first time in more than a month.

This is the 13th week out of 22 that interest rates haven’t budged. However, not all card issuers were inactive this week.

For example, Discover narrowed the range on the Discover Escape card by lowering the card’s maximum APR from 16.99 percent to 15.99 percent. The change didn’t affect the national average, however, because considers only the lowest possible APR when calculating rates.

Meanwhile, U.S. Bank sweetened its balance transfer offer for the U.S. Bank Business Platinum Card by extending the card’s interest-free offer from 6 months to a possible 9 months.

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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