Low Interest Credit Cards:

• Low APR Credit Cards - Ongoing
• 0% Introductory Offer Credit Cards
• 0% Balance Transfer Credit Cards

Reward Credit Cards:

• Cash Back Credit Cards
• Credit Card Reward Programs
• Travel and Airline Credit Cards
• Gas Credit Cards
• Automotive Credit Cards

Business Credit Cards:

• Low Interest Business Credit Cards
• Business Credit Cards with Rewards

Bad Credit Credit Cards:

• Secured Credit Cards
• Unsecured Credit Cards

Student Credit Cards:

• Low Interest Student Credit Cards
• Student Credit Cards with Rewards

Prepaid Credit Cards:

• Prepaid Credit Cards

Complete Credit Card List:

• Complete Credit Card List

July 8, 2008

Weekly Averages:

• Average consumer credit card rate (non-reward): 12.32%
• Average reward credit card rate: 14.30%
• Average student credit card rate: 14.61%
• Average business credit card rate (non-reward): 10.43%
• Average business reward credit card rate: 11.73%

Credit Card Rates Hold Steady
Little change in average credit card rates this week, as the tumultuous period of Federal Reserve rate cuts has finally stopped, and previous cuts have all been factored in. (Credit card rate averages are affected by the actions of the Federal Reserve because many cards base their interest rates at least in part on the Prime Rate, which goes up or down based on the Fed's rate changes.)

The average credit card rate for non-reward consumer credit cards remained at 12.32%, holding steady at the low-water mark it reached two weeks ago. The 12.32% rate is the lowest average since IndexCreditCards.com began tracking average rates in December of 2005.

The average rate on credit cards with rewards increased ever so slightly, to 14.30% from 14.27% two weeks ago.

The averages listed above attempt to take into account the multiple tiers that many credit card issuers offer, instead of accounting for only the lowest listed rates. However, IndexCreditCards.com also tracks the very lowest listed rates, those reserved for customers with the very best credit. This week those averages are at 9.15% for non-reward consumer cards and 12.01% for consumer cards with rewards.

Small business credit card rates rose slightly this week. The average rate for non-reward business credit cards is 10.43%, up from the 10.39% of two weeks ago but identical to the average rate one month ago. The average rate for reward business credit cards increased to 11.73%, up from 11.65% two weeks ago.

The average rate on student credit cards held steady at 14.61% this week.

Financial institutions represented in the survey include Advanta, American Express, Bank of America, Capital One, Chase, Citi, Discover, National City, Pulaski Bank, U.S. Bank, Washington Mutual, Wells Fargo and more.

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