September 10, 2009 Weekly Credit Card Rate Report

The national average annual percentage rate on new credit card offers rose this week to 12.28 percent, according to the Weekly Credit Card Rate Report, spurred by Chase's rate hike on one of its card products.

The national average credit card APR is comprised of 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, or teaser, rates are not included in the calculation.) Among the averages in nine card categories, four increased, two decreased and three were unchanged.

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 12.28% 12.14% 12.84%
Balance Transfer 10.32% 10.14% 11.18%
Low Interest 11.52% 10.62% 12.38%
Cash Back 11.69% 11.77% 13.76%
Business 10.49% 11.07% 16.74%
Reward 12.16% 12.16% 12.22%
Instant Approval 13.32% 12.99% 11.29%
Airline 13.79% 13.48% 12.96%
Bad Credit 14.29% 14.29% 12.77%
Student 14.45% 14.45% 15.79%
Updated: 09-10-09

Chase's decision to boost APRs suggests that banks continue to adjust to both ongoing economic challenges and new federal legislation aimed at curbing credit card abuses.

On the economic front, the Federal Reserve's "beige book" survey of its regional banks showed consumer spending generally remained soft and lending standards remained tight during July and August. That combination helped to drive credit card balances down in July for the 10th straight month, as indicated by the Fed's G.19 report on consumer credit.

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.



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Ben Woolsey, 512-996-8663, ext. 106
Director of Marketing

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