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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.

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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