Credit Card Rates Steady for Just Third Time in 2006
Credit Card Rates Steady for Just Third Time in 2006
No change in average credit card rates this
week, just the third time this year that rates have not increased
week to week, according to the weekly IndexCreditCards.com Credit
Card Monitor. Nevertheless, average rates have increased over
one full point in 2006, so this week’s lack of movement certainly
couldn’t be called a trend.
Average rates stand at:
- Non-reward
consumer credit cards: 13.82% (The average rate for consumers
with the very best credit is 10.91%.)
Reward credit cards for consumers: 15.23%. (The average rate
for consumers with excellent credit is 12.83%.)
College student credit cards: 16.04%.- Business
credit cards without rewards: 11.46% - Business
credit cards with rewards: 13.57%
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.
