September 15, 2010 Weekly Credit Card Rate Report

Austin, Texas — The national average interest rate on new credit card offers held steady for the second straight week, according to the Weekly Credit Card Rate Report, as banks left their card offers alone.

The average is composed of about 100 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. The average annual percentage rates (APRs) in the nine card categories were all unchanged.

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 14.15% 14.15% 14.56%
Low Interest 11.99% 11.99% 12.41%
Cash Back 12.31% 12.31% 12.72%
Balance Transfer 12.68% 12.68% 12.88%
Business 12.85% 12.85% 12.20%
Student 14.05% 14.05% 14.35%
Airline 14.14% 14.14% 14.43%
Reward 14.32% 14.32% 14.59%
Instant Approval 15.99% 15.99% 18.41%
Bad Credit 20.64% 20.64% 21.09%
Updated: 09-15-10

The national average APR currently sits at the lowest point since mid-May. Despite the recent downturn, rates remain above their levels of six months ago and the start of this year, when the average APR stood at 12.97 percent.

That long-term rate increase appears to be helping discourage card use, as Federal Reserve data shows that credit card debt levels are falling. Some of that pullback is due to decreased card use, some to banks charging off uncollectable debt and closing accounts.  

The credit card rate survey 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.  



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

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