Weekly Credit Card Rate Report April 30, 2009
The LowCards.com Weekly Credit Card Rate Report 04-30-09
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.
Our index showed that the Annual Percentage Rates for credit cards
was 11.61% this week which was slightly higher than last week at
11.60%.
The average credit card rate six months ago (October 30) was 12.01%
Here are the averages from the LowCards.com Complete Credit
Card Index for the previous ten weeks:
Apr. 30 11.61%
Apr. 23 11.60
Apr. 16 11.55
Apr. 9 11.55
Apr. 2 11.57
Mar. 26 11.69
Mar. 17 11.70
Mar. 10 11.69
Mar. 3 11.65
Feb. 24 11.65
Feb.17 11.66
Feb.11 11.51
The average cash advance rate for this week was 20.04%
which was slightly higher than last week's rate of 20.03%.
"The US House of Represenatives overwhelmingly passed
the Credit Cardholders' Bill of Rights this afternoon and we
applaud this decision and think it will eventually lead to
lower credit card rates and fees," said Bill Hardekopf,
CEO of LowCards.com .
"The vote was 357-70 and I think that shows the tremendous
support the public has for this bill. The Credit Cardholders'
Bill of Rights will help consumers by ending some unfair practices
used by credit card companies. It prevents card companies from
unfairly increasing rates on existing card balances and requires issuers
to give 45 days notice of all interest rate increases. It also eliminates
the practice of 'double-cycle billing' and bans the issuance of cards to
people under the age of 18.
"We have been watching this bill closely and are excited that we may
finally see it become law. We expect the Senate will vote on this bill
next week. It is expected to be a closer vote than in the House,
but we are confident that people will let their Senators know how they
feel about this bill."
The credit cards with the lowest interest rates in the nation this week are:
1. 4.24% American Quarter Horse Association Business Credit Card
2. 5.00% Fifth Third Bank Platinum Prime MasterCard
3. 5.24% Farm Bureau Bank Platinum MasterCard
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 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 1060 credit cards
offered in this country. Created by Hampton & Associates,
the company has been analyzing the credit card industry
and supplying objective websites on various consumer
expenses for eight years.
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.
Our index showed that the Annual Percentage Rates for credit cards
was 11.61% this week which was slightly higher than last week at
11.60%.
The average credit card rate six months ago (October 30) was 12.01%
Here are the averages from the LowCards.com Complete Credit
Card Index for the previous ten weeks:
Apr. 30 11.61%
Apr. 23 11.60
Apr. 16 11.55
Apr. 9 11.55
Apr. 2 11.57
Mar. 26 11.69
Mar. 17 11.70
Mar. 10 11.69
Mar. 3 11.65
Feb. 24 11.65
Feb.17 11.66
Feb.11 11.51
The average cash advance rate for this week was 20.04%
which was slightly higher than last week's rate of 20.03%.
"The US House of Represenatives overwhelmingly passed
the Credit Cardholders' Bill of Rights this afternoon and we
applaud this decision and think it will eventually lead to
lower credit card rates and fees," said Bill Hardekopf,
CEO of LowCards.com .
"The vote was 357-70 and I think that shows the tremendous
support the public has for this bill. The Credit Cardholders'
Bill of Rights will help consumers by ending some unfair practices
used by credit card companies. It prevents card companies from
unfairly increasing rates on existing card balances and requires issuers
to give 45 days notice of all interest rate increases. It also eliminates
the practice of 'double-cycle billing' and bans the issuance of cards to
people under the age of 18.
"We have been watching this bill closely and are excited that we may
finally see it become law. We expect the Senate will vote on this bill
next week. It is expected to be a closer vote than in the House,
but we are confident that people will let their Senators know how they
feel about this bill."
The credit cards with the lowest interest rates in the nation this week are:
1. 4.24% American Quarter Horse Association Business Credit Card
2. 5.00% Fifth Third Bank Platinum Prime MasterCard
3. 5.24% Farm Bureau Bank Platinum MasterCard
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 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 1060 credit cards
offered in this country. Created by Hampton & Associates,
the company has been analyzing the credit card industry
and supplying objective websites on various consumer
expenses for eight years.
Posted by john at
11:29 AM
