The Weekly Credit Card Rate Report 01-06-09

January 6, 2009, Written By sitemanager
The Weekly Credit Card Rate Report 01-06-09

The Weekly Credit Card Rate report is based on
its Complete Credit Card Index which tracks the advertised rates
of 1,260 credit cards in the US.

The index shows that Annual Percentage Rates for credit cards decreased this past week. The average credit card rate was 11.75% for the 1,260 credit cards that are tracked by, a slight decrease compared to the 11.78% average from the previous week.

After an up tick last week, credit card rates have continued to move downward, a trend in line with expectations after the Federal Reserve interest rate cuts over the past two months. Here are the averages from the Complete Credit Card Index for the previous ten weeks:

Jan. 6 11.75%
Dec.30 11.78
Dec. 23 11.75
Dec. 16 11.77
Dec. 11 11.78
Dec. 4 11.80
Nov. 25 11.98
Nov. 20 12.01
Nov. 13 11.99
Nov. 6 11.95
Oct. 30 12.01

The average cash advance rate dropped to 20.50% up from 20.58% last week. Another drop includes the home sales numbers released today, which might force rates to be lower, although experts say there is little more room for them to fall.

The following credit cards have the lowest interest rates in the nation this week:

1. 4.00% Nordstrom Platinum Visa
2. 4.50% Wells Fargo Prime Rate Visa Credit Card
3. 5.00% Fifth Third Bank Platinum Prime MasterCard

The Complete Credit Card index is available here: Rates may occasionally change due to the number of cards being tracked.

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The information contained within this article was accurate as of January 6, 2009. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.