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Credit Card Rates Unchanged for First Time in 2006

by Peter Andrew


Credit

Card Rates Unchanged for First Time in 2006

No news is good news for credit card users

this week, as average credit card rates were unchanged for the

first time in 2006, according to the weekly IndexCreditCards.com

Credit Card Monitor. Unfortunately, the Federal Reserve is expected

to raise lending rates again at its March 27th/28th meeting,

so variable-rate credit card APRs will be on the upswing again

soon.

But for at least one week, rates have stopped rising. Below

are the current credit card rate averages in categories tracked

by IndexCreditCards.com:

  • Non-reward

    consumer credit cards: 13.33% average APR (10.58% for consumers

    with the best credit)

  • Reward

    credit cards for consumers: 14.46% average APR (11.81% for

    consumers with best credit)

  • Non-reward

    business credit cards: 11.30% average APR

  • Reward

    business credit cards: 13.42% average APR

  • Student

    credit cards: 15.87% average APR

Financial institutions represented in the survey include Advanta,

American Express, Bank of America, Capital One, Chase, Citi,

Discover, MBNA, National City, Providian, Pulaski Bank, U.S.

Bank, Wachovia, Wells Fargo and more.

Published 03/20/06 (Modified 05/07/12)


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