November 12, 2009 Weekly Credit Card Rate Report

Austin, Texas — Annual percentage rates on new credit card offers climbed to 12.79 percent this week, according to the Weekly Credit Card Rate Report, as banks continue to adjust to economic uncertainty and increased regulation.

The national average credit card APR 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, three rose, four fell and two were unchanged.    

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 12.79% 12.64% 13.14%
Business 9.49% 9.69% 16.74%
Cash Back 12.11% 12.36% 12.06%
Low Interest 12.12% 11.91% 12.47%
Balance Transfer 12.27% 13.46% 10.99%
Reward 13.29% 12.85% 13.71%
Instant Approval 13.32% 13.32% 10.74%
Airline 13.60% 13.60% 13.95%
Bad Credit 13.74% 14.29% 12.15%
Student 14.89% 14.45% 14.89%
Updated: 11-12-09

Several card issuers, including Chase and GE Money, raised APRs this week, in keeping with recent trends. On Monday, the Federal Reserve's quarterly survey of senior loan officers showed about 40 percent of banks cut credit limits, boosted APRs or both on customers in the third quarter.

Banks have also eliminated some card offers, which forced some reshuffling of's database. Our national average rose, in part, because many of the new cards had higher APRs than those they replaced.  

The credit card rate survey is conducted weekly, using offer data from the leading U.S. card issuers as found on their 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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