CreditCards.com: Weekly Credit Card Rate Report

Business Wire, March 22, 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 also remained steady from the previous week and 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: 03-22-07          <

Surprisingly, average credit card rates for those with bad credit are running comparable to several other card categories that typically require good or excellent credit. This trend is being driven by aggressive marketing in the sub-prime market by certain issuers. Interest rates on cards designed for those with bad credit currently span a wide range from 9.9% all the way up to 19.92%, depending on the risk appetite and underwriting policies of the issuing bank. Most such offers involve annual fees to partially offset the increased risk of unsecured sub-prime lending.

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.