CreditCards.com: Weekly Credit Card Rate Report

AUSTIN, Texas, July 30 /PRNewswire/ -- The national average annual percentage
rate on new credit card offers rose for the fourth time in the past five weeks
to 12.06 percent, according to the CreditCards.com Weekly Credit Card Rate
Report.

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The national average credit card APR is comprised of 95 of the most popular
credit cards in the country, including cards from dozens of leading U.S.
issuers and representing every card category listed below. (Introductory, or
teaser, rates are not included in the calculation.) Among averages in nine
card categories, one increased and eight were unchanged.

Rates for card categories tracked by CreditCards.com are listed below:
Credit Card Rate Averages

Avg. APR Last week 6 months ago
National Average 12.06% 12.04% 11.58%
Balance Transfer 10.14% 10.14% 10.14%
Low Interest 10.53% 10.53% 11.05%
Business 11.41% 11.41% 16.74%
Cash Back 11.63% 11.63% 12.71%
Reward 12.10% 12.10% 11.32%
Instant Approval 12.99% 12.99% 11.29%
Airline 13.48% 13.31% 11.60%
Bad Credit 14.29% 14.29% 12.15%
Student 14.45% 14.45% 14.21%

Source: CreditCards.com
Updated: 7-30-09

Banks are raising APRs to guard against potential losses on unpaid accounts,
while also restricting their lending. The Federal Reserve's latest survey of
its regional banks showed credit standards continued to tighten in seven of 12
districts.

Meanwhile, consumer loan demand decreased in four districts and "stabilized at
a low level" in two regions. Amid lower demand, some analysts warn that
certain consumers still seeking plastic may be aware of a potential life event
-- such as a job loss -- than credit scores can't predict.

The CreditCards.com credit card rate survey is conducted weekly, using offer
data from the leading U.S. card issuers as found on their Web sites.
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 several 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.

SOURCE CreditCards.com

Ben Woolsey, Director of Marketing of CreditCards.com, +1-512-996-8663, ext.
106, benw@creditcards.com