Weekly Credit Card Rate Report 08-26-08
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 of1260 credit cards in the United States.
Our index showed that Annual Percentage Rates held relatively stable this week. The average credit card rate was 12.02% for the 1260 credit cards that are tracked byLowCards.com which was only slightly lower from the weekbefore at 12.03%.
The average cash advance rate was 20.65% which was slightly lower than the 20.66% 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 credit cards with the lowest interest rates in thenation this week are:
1. 4.00% Iberia Bank Visa Classic Card
2. 5.00% SimplyCashBusiness Card from American Express
3. 5.00% Wells FargoPrime 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 for credit cards continued to be stable after the Federal Reserve took no action during the meeting in earlyAugust.
The Federal Reserve did release the minutes from the meeting in early August. In the minutes they showed concern about inflation and a slowing economy. They also commented that the next move may be to raise interest rates.
Bill Hardekopf, CEO of LowCards.com added "Since thatmeeting we have seen oil prices drop a good bit and thedollar strengthen. I think that decreases the chance we seea rate increase any time soon. That is good news for creditcard rates and is probably the reason they are holdingsteady."
The LowCards.com credit card rate report is compiled weekly using data from 1260 credit cards which are tracked on theLowCards.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 TheCredit 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
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to LowCards.com.
The LowCards.com Weekly Credit Card Rate report is based on our Complete Credit Card Index which tracks the rates of1260 credit cards in the United States.
Our index showed that Annual Percentage Rates held relatively stable this week. The average credit card rate was 12.02% for the 1260 credit cards that are tracked byLowCards.com which was only slightly lower from the weekbefore at 12.03%.
The average cash advance rate was 20.65% which was slightly lower than the 20.66% 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 credit cards with the lowest interest rates in thenation this week are:
1. 4.00% Iberia Bank Visa Classic Card
2. 5.00% SimplyCashBusiness Card from American Express
3. 5.00% Wells FargoPrime 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 for credit cards continued to be stable after the Federal Reserve took no action during the meeting in earlyAugust.
The Federal Reserve did release the minutes from the meeting in early August. In the minutes they showed concern about inflation and a slowing economy. They also commented that the next move may be to raise interest rates.
Bill Hardekopf, CEO of LowCards.com added "Since thatmeeting we have seen oil prices drop a good bit and thedollar strengthen. I think that decreases the chance we seea rate increase any time soon. That is good news for creditcard rates and is probably the reason they are holdingsteady."
The LowCards.com credit card rate report is compiled weekly using data from 1260 credit cards which are tracked on theLowCards.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 TheCredit 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
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to LowCards.com.
Posted by john at
3:41 PM
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