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Consumer Credit Card Rates Steady, Business Cards Tick Up

by Peter Andrew


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.

Published 08/02/06 (Modified 05/07/12)


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