Average Credit Card Rates February 2, 2011

Credit card rate averages are mostly lower this week over last week. None of our average credit card categories increased for the week ending February 2, 2011. The lowest average credit card rate is still on Low Introductory Rate Cards. The current average low intro rate credit card is 0.622 percent, down from the previous week's average rate of 0.684 percent.  

The average Low Balance Transfer Rate credit card has also declined this week over last week. The current average balance transfer rate card is 7.827 percent. This is the second time this in 2011 the average balance transfer card is below 8.00 percent.  The previous week saw the average balance rate at 8.018 percent.

The average rates on the following categories did not change this week over last week. Secured credit card rates are averaging 15.878 percent. Credit-Builder card rates are averaging 15.263 percent. Student credit interest rates are averaging 12.949 percent and Small Business credit interest rates are averaging 12.439 percent.

 February 2, 2011 Average Credit Card Rates

  • Low Introductory Rate Credit Cards 0.622%

  • Low Balance Transfer Rate Credit Cards 7.827%

  • Reward Credit Cards Rates 12.368%

  • No Annual Fee Credit Cards 12.245%

  • Small Business Credit Cards 12.439%

  • Platinum Credit Cards 12.647%

  • Cash Back Credit Cards 12.59%

  • Student Credit Cards 12.949%

  • Credit-Builder Credit Cards 15.263%

  • Secured Credit Cards 15.878%

 
Author: Brian McKay
February 2nd, 2011