The Weekly Credit Card Rate Report 12-30-08

December 30, 2008, Written By sitemanager
The Weekly Credit Card Rate Report 12-30-08

The Weekly Credit Card Rate Report 12-30-08

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

Our index showed that Annual Percentage Rates for credit
cards increased slightly this past week. The average
credit card rate was 11.78% for the 1260 credit cards
that are tracked by, a very slight increase
compared to the 11.75% average for the previous week.
This was the first increase in six weeks.

Here are the averages from the Complete Credit
Card Index for the previous ten weeks:

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
Oct. 23 12.03

The average cash advance rate dropped to 20.58% up from 20.57% last week.

“We just had the Consumer Confidence Index numbers released this
morning and that might start moving interest rates.” said Bill Hardekopf,
CEO of “The CCI number was at an all-time low
when it was released this morning. In addition, the housing numbers
continue to look bad with home prices down 18% in October. With
this as a backdrop, we think credit card issuers may decrease interest
rates. But we expect there will continue to be a tightening of approval
rates because they are concerned with the credit quality of their

The credit cards with the lowest interest rates in the nation this week are:

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 credit card rate report is compiled weekly
using data from 1260 credit cards which are tracked on the website. 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 December 30, 2008. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.