The LowCards.com Weekly Credit Card Rate Report is based on our Complete Credit Card Index which tracks the advertised rates of 1060 credit cards in the United States. We constantly track the cards in order to identify trends in credit cards interest rates. There has been a good deal of concern this week over the "Fiscal Cliff" discussions in Washington and what that may mean to credit cards. As of now, it looks like card issuers feel that the government will still reach an agreement on a solution. Our index showed the Annual Percentage Rates for credit cards was 14.31%, which was the same as last week.
Here are the averages from the LowCards.com Complete Credit Card Index for the previous ten weeks:
The average cash advance rate for this week was 21.66% which was higher than last week's 21.65%, possibly as more shoppers used cash advance rates to pay for holiday shopping or travel.
The credit cards with the lowest interest rates in the nation this week are:
1. 5.00% Speedway SuperAmerica Credit Card
2. 5.15% First Tennessee Platinum Premier Visa
3. 6.25% Lake Michigan Credit Union Platinum Visa
The LowCards.com credit card rate report is compiled weekly using data from 1060 credit cards which are tracked on the LowCards.com website. The Complete Credit Card index is available at http://www.lowcards.com/the-complete-credit-card-index-ccci.
Please note: Rates may occasionally change due to the number of cards being tracked.