Weekly Credit Card Rate Report May 28, 2009

Weekly Credit Card Rate Report May 28, 2009

May 28, 2009         Written By sitemanager

The LowCards.com Weekly Credit Card Rate Report May 28, 2009

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 11.63% this week which was slightly lower than last week at 11.64%.

The average credit card rate six months ago (November 25) was 11.98%.
Nine months ago (August 26), it was 12.02%

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

May 28 11.63%
May 21 11.64
May 14 11.65
May 7 11.65
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

The average cash advance rate for this week was 20.09%
which was unchanged from last week.

“Credit card reform is nine months away now that President Obama has signed
this bill into law,”said Bill Hardekopf, CEO of LowCards.com and author of
The Credit Card Guidebook. “It is nice to see the average interest rate at
11.63%, but we expect to see that rate start to creep up in the next few
months as issuers try to find a way to make up for the revenue they are
projected to lose due to these regulations.”

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

1. 3.25% Fifth Third Bank Platinum Prime MasterCard
2. 4.24% American Quarter Horse Association Business Credit Card
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:


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
( https://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.

This entry was posted in Weekly Rate Report and tagged No tags added

The information contained within this article was accurate as of May 28, 2009. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : 1.5% cash back on all purchases; $150 bonus after spending $500 in first 3 months
Featured No Annual Fee Card
Top Features : Earn cash back TWICE. 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : Perfect credit not required; Reports to major credit bureaus