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Credit Card Deals May Be Dwindling

by Peter Andrew

With

several major banks announcing bumps in credit card rates to

coincide with the bump in Federal interest rates, credit card

deals may soon be harder to find.

Nevertheless,

in our new weekly feature, Credit Card Monitor, we find that

time hasn't yet run out on discovering attractive rates.

For

consumers with good credit ratings, our survey of top-level

credit cards found an average 9.86% APR, with levels as low

as 6.0%. "Top-level" cards in our survey include Platinum

or similarly designated cards that do not offer reward programs

but instead offer lower interest rates to eligible cardholders.

Reward

cards in our survey averaged an 11.26% APR, with rates as low

as 7.9%.

Top-level

business credit cards averaged a 10.15% APR this week, with

rates as low as 7.99%. Reward business cards came in at an average

of 13.29%, including at least one card offering rewards and

a 7.99% interest rate.

Thanks

to their lack of credit history, students interested in gaining

credit get the least attractive rates, with a 14.93% average,although

we did find a single 9.9% offer.

The

above information includes an average of the lowest published

credit card rates from at least 10 credit card offers in each

category. Consumers or businesses with good credit can expect

to find cards at these rates, while those with shakier credit

histories will be offered higher APRs. Credit Card Monitor will

track credit card rates each week.

Published 09/23/05 (Modified 05/07/12)


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