dcsimg Credit Card Rates Continue Slow Rise - indexcreditcards.com

Credit Card Calculators

How long will it take to pay off my credit card?

In the News
  • "As comprehensive a list as you'll find of all the credit card offers on the table now."

Credit Card Rates Continue Slow Rise

by Peter Andrew
Credit Card Rates Continue Slow Rise

Credit Card Rates Continue Slow Rise Credit card rates continue to move skyward, although at a slower pace than earlier this year, according to the weekly IndexCreditCards.com Credit Card Monitor.

The average interest rate for consumer credit cards with no rewards increased to 13.98% this week, up from 13.95% previously. (For those with excellent credit, the average rate increased to 11.08%, from 11.04%.) The average reward credit card rate rose at a faster pace, up to 15.41% from 15.35%. For those with excellent credit, the average rate increased to an even 13 percent, from 12.94% previously. Student rates inched up as well, to an average rate of 16.21%, up from 16.17% previously. While business credit cards are still offering lower rates than consumer cards, the averages are rising faster in recent weeks. The average non-reward business credit card rate jumped to 11.74% this week, up from 11.55% previously, while business credit cards with rewards jumped to an average rate of 13.71%, from 13.62%.

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.

Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.

This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.

Published  (Modified )

Share this article with: