Weekly Credit Card Rate Report 08-19-08

The LowCards.com Weekly Credit Card Rate Report

The LowCards.com Weekly Credit Card Rate report is based on our
Complete Credit Card Index which tracks the rates of 1260 credit cards
in the United States.

Our index showed that Annual Percentage Rates held relatively stable
this week. The average credit card rate was 12.03% for the 1260 credit
cards that are tracked by LowCards.com which was only slightly lower
from the week before at 12.04%.

The average cash advance rate was 20.66% which was slightly lower
than the 20.70% from the week before.

LowCards.com track rates for credit cards in nine categories. The rates
were slightly lower or unchanged in all nine categories for the past week.

The Top 3 credit cards with the lowest interest rates in the nation are:
1. 4.00% Iberia Bank Visa Classic Card
2. 5.00% SimplyCash Business Card from American Express
3. 5.00% Wells Fargo Prime Rate Visa Credit Card

You may view rates for all 1260 credit cards in the United States here:
http://www.lowcards.com/CreditCardIndex.aspx

Rates held steady or dropped slightly as credit card companies found
little reason to move rates after the Federal Reserve left the prime rate
unchanged at the last meeting on August 5.

The U.S. Labor Department reported today that the Producer Price Index
for the month of July rose 1.1% which was nearly double a Wall Street
forecast of 0.6%.

Last week the Consumer Price Index was reported by the government to
have been much higher than anticipated and that pushed the annual
inflation rate to 5.6%. Inflation may start to put pressure on card issuers to
increase rates.

Bill Hardekopf, CEO of LowCards.com added "We have probably seen
credit card rates stabilize for now after all the rate cuts in the first part of
the year. I don't think we will see any cuts in the near future and with
this inflation number being raised, we may see the Fed at some point
start raising rates again and that would mean higher credit card rates."

The LowCards.com credit card rate report is compiled weekly using data
from 1260 credit cards which are tracked on the LowCards.com website.
The Complete Credit Card index is available here
http://www.lowcards.com/CreditCardIndex.aspx

Rates may occasionally change due to the number of cards being tracked.

About LowCards.com
LowCards.com ( http://www.LowCards.com ) simplifies the confusion of
shopping for credit cards. It is a free, independent website that helps
consumers easily compare credit cards in a variety of categories such as
lowest rates, rewards, rebates, balance transfers and lowest introductory
rates. It also gives an unbiased ranking and review for each card.

The LowCards.com Complete Credit Card Index
( http://www.lowcards.com/CreditCardIndex.aspx ) is the most objective and
comprehensive resource on the Internet which allows consumers to compare
rates for all 1260 credit cards offered in this country.

The founders of LowCards.com have written a book called The Credit Card
Guidebook which helps clarify the confusing world of credit cards. Consumers
can download this book absolutely free as a PDF or browse it online:
http://www.lowcards.com/the-credit-card-guidebook/index.php

Created by Hampton & Associates, the company has been analyzing the credit
card industry and supplying objective websites on various consumer expenses
for eight years.