Credit Card Rates Hold Steady
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Average APR remains 12.73% Credit card rates were steady in almost all categories this week, with the average rate for standard, non-reward cards remaining at 12.73%, according to the weekly IndexCreditCards.com Credit Card Monitor. The only change was seen in consumer credit cards with rewards, where the average rate increased to 13.85%. For consumers with the very best credit, the average standard card APR remained at 10.22%, while the reward card average increased to 11.56%.
The average student credit card rate remained at 15.30%. Business credit card rates remained unchanged for the fourth straight week, with an average 11.33% rate for standard cards and 13.21% for business reward credit cards. 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.
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