Navember 16, 2011 Weekly Credit Card Rate Report

Austin, Texas—The average interest rate on a new credit card offer stayed static this week, according to the Weekly Credit Card Rate Report, despite a rate bump by one of the nation's largest issuers.

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 14.99% 14.99% 14.83%
Low Interest 10.73% 10.73% 10.73%
Balance Transfer 12.77% 12.77% 12.76%
Business 13.13% 13.13% 12.91%
Student 13.77% 13.77% 13.77%
Airline 14.44% 14.44% 14.24%
Cash Back 14.70% 14.65% 13.91%
Reward 14.70% 14.69% 14.40%
Instant Approval 15.99% 15.99% 15.99%
Bad Credit 24.96% 24.96% 24.96%
Updated: 11-16-11

The average annual percentage rate (APR) held at 14.99 percent for a second straight week. That's just 0.01 percent shy of the national APR average record high, which was set in mid-October.  

The only rate change we saw this week came from Citi. It raised the top end of the APR range on its Citi Forward card from 20.99 percent to 22.99 percent. The lower end of the range remained at 12.99 percent. Since we only include a card's lowest available rate in our calculations, the move did not impact the national average.

Citi did not offer comment on the change prior to the release of this report.

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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