Consumer Credit Card Rates Steady, Business Cards Tick Up
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.
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.
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