CreditCards.com: Credit Card Rate Report.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Rates on low-interest Adj. 1. low-interest - (used of loans) charging a relatively small percentage of the amount borrowed high-interest - (used of loans) charging a relatively large percentage of the amount borrowed consumer credit cards remained relatively flat this week with an average regular annual percentage rate (APR APR See: Annual Percentage Rate ) of 11.76%, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. CreditCards.com. Low-interest credit cards continue to be the most popular card category among U.S. consumers. The average regular APR for all of the major credit card categories were as follows:
CREDIT CARDS < < <
< < <
Avg. APR
Student < < <
18.16%
Cash Back < < <
14.14%
Airline < < <
13.88%
Business < < <
13.94%
Instant Approval < < <
13.61%
Balance Transfer < < <
11.37%
Low Interest < < <
11.76%
For Bad Credit < < <
17.20%
Reward < < <
13.69%
< < <
Source: CreditCards.comUpdated: 02-28-2007 < < <
While credit card rates have remained relatively constant in the last week, average rates are lower than last summer, when the Fed last raised the prime lending rate The lowest rate of interest that a financial institution, such as a bank, charges its best customers, usually large corporations, for short-term unsecured loans. The prime lending rate is an economic indicator and is often used as a measuring point for adjusting interest . This trend appears to be in part driven by the introduction of new single-digit APR credit card products by several of the nation's top issuers. The exception to the overall lower APR trend in the past year has come in the airline credit card category, where aggressive free introductory mileage MILEAGE. A compensation allowed by law to officers, for their trouble and expenses in travelling on public business. 2. The mileage allowed to members of congress, is eight dollars for every twenty miles of estimated distance, by the most usual roads, from his offers as high as 25,000 miles have been coupled with higher APRs. CreditCards.com's national weekly credit card rate survey is conducted each Wednesday Wednesday: see week. from data representing the leading credit card issuers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Annual fees, introductory offer periods, reward features and approval requirements of specific products vary depending on individual applicant's credit and issuer pricing policies. About CreditCards.com CreditCards.com operates a free credit card comparison website, located at www.CreditCards.com, where consumers can examine various offers side by side and apply for credit cards from the nation's leading issuers. The cards are organized by major category (low interest, airline, student, cash back and others), with dynamic daily updating of credit card offers, rates and features. CreditCards.com's mission is to provide a full range of card choices, news articles and features -- all designed to help consumers make informed choices about their credit cards. NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution at·tri·bu·tion n. 1. The act of attributing, especially the act of establishing a particular person as the creator of a work of art. 2. to CreditCards.com. |
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