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Credit Card Rates Steady as Fed Applies Brakes

by Peter Andrew


Credit Card Rates Steady as Fed Applies Brakes

No changes to average credit card rates this

week, as the Federal Reserve's decision to stand pat on interest

rates is good news for most cardholders. The average credit

card rate remains at 14.16%.

The 14.16% average rate relates to non-reward consumer credit

cards. The average credit card rate for consumer reward cards

remains at 15.66%. (For those with excellent credit, the average

rates are 11.25% and 13.23%, respectively.)

The

average student credit card rate is 16.46%.

The

average non-reward business credit card rate stands at 12.11%,

while the average rate for business credit cards with rewards

is 14.05%.

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 08/11/06 (Modified 05/07/12)


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