November 7, 2012 Weekly Credit Card Rate Report

Austin, Texas—Interest rates on new credit card offers stayed put this week, according to the Weekly Credit Card Rate Report.

The average is comprised 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 15.01% 15.01% 14.91%
Low Interest 10.40% 10.40% 10.40%
Balance Transfer 12.62% 12.62% 12.43%
Business 13.13% 13.13% 12.67%
Student 13.31% 13.31% 13.77%
Cash Back 14.47% 14.47% 14.24%
Airline 14.63% 14.63% 14.63%
Reward 14.85% 14.85% 14.70%
Instant Approval 15.49% 15.49% 15.49%
Bad Credit 23.64% 23.64% 23.64%
Updated: 11-07-12

The national average APR remained at 15.01 percent Wednesday, after rising the previous week.

None of the issuers tracked by changed the interest rates they offered to customers with the best credit.

Bank of America raised the maximum possible APR an applicant could receive on two of its credit cards, the BankAmericard Visa and the BankAmericard for Students.

However, the change to the cards' highest available rates didn't affect the national average because only considers a card's lowest possible rate when calculating average interest rates.

This is the third consecutive week that Bank of America has widened the APR spread on a select number of cards. In each case, the bank raised the maximum APR available to customers with less-than-perfect credit.

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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