Credit Card Rates Inch Higher

For the first time in two months the average interest rates on new credit card offers moved higher last week. This according to online credit card marketplace CreditCards.com, who publish a weekly survey of rates offered to U.S. consumers.

The average rate for all credit card offers surveyed by CreditCards.com last week was 15.02%. This was up from 15.01% the week before but still down from the 15.06% measured six months ago.

Among the different types of cards on offer, only Airline cards (15.38%, up from 15.30% the week before) and Reward cards (14.98%, up from 14.97%) showed any real movement.

A range of card offers were unchanged from the previous week, including Low Interest (10.37%), Balance Transfer (12.64%), Business (12.80%), Student (13.27%), Cash Back (14.91%), Instant Approval (28%) and Bad Credit (22.73%) card offers.

CreditCards.com said its weekly credit card rate survey looks at 100 of the most popular credit cards in the country.

 

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Link:

www.creditcards.com