CreditCards.com: Weekly Credit Card Rate Report

Business Wire, May 3, 2007

AUSTIN, Texas -- Average rates for instant approval credit cards edged higher this week, potentially in response to increased default risk associated with instant credit decisions. Rates on other popular credit card categories tracked by CreditCards.com remained unchanged from the previous week and are listed below:

Credit Card Rate Averages

Low Interest               11.59%
Balance Transfer           11.41%
Instant Approval           14.18%
Reward                     13.72%
Cash Back                  13.13%
Airline                    15.07%
Business                   13.95%
Student                    17.88%
Bad Credit                 12.81%


Source: CreditCards.com
Updated: 05-03-07

Several major credit card companies offer instant online decisions for their cards as a method for differentiating their products. Issuers are able to access certain credit bureau facts in near real-time in order to make rapid credit decisions, usually within 60 seconds. When insufficient data is available to make an instant online decision, issuers reserve the right to take a greater amount of time in which to grant approval or denial of an application involving offline review.

The CreditCards.com national weekly credit card rate survey is conducted each week 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 (www.creditcards.com) is an Internet publisher and marketing organization that operates the leading and fastest growing online destination for consumers to search, compare, and apply for credit cards. The company matches millions of consumers each year with the credit card offers that best meet their financial needs. CreditCards.com is based in Austin, Texas and was founded in 2003.

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