September 24, 2009 Weekly Credit Card Rate Report

Austin, Texas — The national average annual percentage rate on new credit card offers rose to 12.32 percent, according to the Weekly Credit Card Rate Report, despite the Federal Reserve's decision to leave a key lending rate unchanged.

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 (teaser) rates are not included in the calculation. Among the average APRs in nine card categories, one increased, one decreased and seven were unchanged. 

Rates for card categories tracked by are listed below:

Credit Card Rate Averages
  Avg. APR Last Week 6 Months ago
National Average 12.32% 12.28% 12.00%
Business 9.89% 10.49% 16.74%
Balance Transfer 10.32% 10.32% 11.18%
Low Interest 11.52% 11.52% 11.83%
Cash Back 11.69% 11.69% 13.31%
Reward 12.37% 12.16% 11.59%
Instant Approval 13.32% 13.32% 11.29%
Airline 13.79% 13.79% 12.90%
Bad Credit 14.29% 14.29% 11.79%
Student 14.45% 14.45% 14.90%
Updated: 09-24-09

Wednesday, the Fed announced it would leave the federal funds rate at a record low. The fed funds rate sets the prime rate, to which most variable rate credit cards pegged. The central bank also reiterated that it will keep rates "exceptionally low" for "an extended period."

According to analysts, the Fed's primary concern is removing stimulus too soon and allowing the economic recovery to stall. Despite the Fed's approach, analysts say most cardholders will continue to see interest rates rise.

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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