Consumer Credit Card Rates Steady, Business Cards Tick Up
Consumer Credit Card Rates Steady, Business Cards Tick Up
No changes to average interest rates for
most consumer credit card categories this week, but business
cards did see a slight increase. The average consumer credit
card rate remains at 14.16%, while the average business credit
card rate increased to 12.11%.
The 14.16% average rate relates to non-reward consumer credit
cards. The average credit card rate for consumer reward cards
stands at 15.66%. (For those with excellent credit, the average
rates are 11.25% and 13.23%, respectively.)
The
average student credit card rate did increase slightly, up to
16.46% from last week’s 16.41% average.
The
average business credit card rate of 12.11% is a slight jump
from 12.08% last week. Business reward card rates also jumped,
from an average 13.99% interest rate up to 14.05% this week.
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.
