CreditCards.com: Weekly Credit Card Rate Report

Business Wire, March 15, 2007

NEW YORK -- Rates on low-interest consumer credit cards remained unchanged this week with an average regular annual percentage rate (APR) of 11.66%, according to CreditCards.com. Averages on other popular credit card categories tracked by CreditCards.com are listed below:

Credit Card Rate Averages

Low Interest               11.66%
Balance Transfer           11.47%
Instant Approval           13.95%
Reward                     13.72%
Cash Back                  13.38%
Airline                    15.01%
Business                   14.01%
Student                    17.88%
Bad Credit                 13.05%

Source: CreditCards.com
Updated: 03-15-07

Low interest rate and balance transfer credit cards, particularly those with 0% introductory APR, are a very popular choice amongst consumers during the first quarter of each year due to the need to alleviate the strain of finance charges from post-holiday balances. Nearly 60% of credit card users pay balances off over time, so these offers continue to drive business for the nation's top issuers.

The business credit card category has become quite competitive within the last year, with several major issuers entering the segment vying for a piece of the enormous small business market's monthly spending. Business card rates are averaging just below 14%, reflecting slightly higher credit risk relative to consumer cards.

CreditCards.com's national weekly credit card rate survey is conducted each Wednesday using data from the leading credit card issuers in the United States.

Introductory offer periods and actual regular interest rates can vary depending on individual applicants' credit quality and issuer risk-based pricing policies.

About CreditCards.com

CreditCards.com operates a free credit card comparison website, located at www.CreditCards.com, where consumers can examine various offers side by side and securely apply online for credit cards from the nation's leading issuers. The cards are organized by major category (low interest, airline, student, cash back and others), with dynamic daily updating of credit card offers, rates and features. CreditCards.com's mission is to provide a full range of card choices, news articles and features -- all designed to help consumers make informed choices about their credit cards.

NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.