AUSTIN, Texas, March 9, 2011 /PRNewswire/ -- Interest rates on credit card offers inched lower this week, spurred by a rate change from Barclays, according to the CreditCards.com Weekly Credit Card Rate Report.
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The average is composed of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation. The average APR fell in four categories and was unchanged in five.
Rates for card categories tracked by CreditCards.com are listed below:
Credit Card Averages
Avg. APR Last week 6 months ago National Average 14.65% 14.66% 14.15% Low Interest 11.18% 11.18% 11.99% Cash Back 13.41% 13.45% 12.31% Business 12.91% 12.91% 12.85% Balance Transfer 12.78% 12.80% 12.68% Student 13.42% 13.42% 14.05% Airline 14.33% 14.39% 14.14% Reward 14.32% 14.33% 14.32% Instant Approval 15.99% 15.99% 15.99% Bad Credit 23.95% 23.95% 20.64% Source: CreditCards.com Updated: 3-9-2011
The low end of the APR range on Barclays' U.S. Airways Premier World MasterCard changed from 15.99 percent to 15.24 percent. We have regularly seen multiple rates offered for the card and adjusted our database to reflect the differences we have seen.
Barclays declined a request for comment.
The change has led the national APR average down for the second straight week. Prior to this month, the national APR average had not decreased since early December.
The CreditCards.com credit card rate survey is conducted weekly, using offer data from the leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.
About CreditCards.com
CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, http://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.
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