Average annual percent rates for platinum, intro purchase, and reward cards stand still. May 26, 2004: 2:40 PM EDT
NEW YORK (CNN/Money) - Credit card interest rates were motionless during the week ended May 25, with the average annual percent rate, or APR, for platinum cards clinging to their 11.06 percent average, unchanged from the previous week.
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Interest rates on platinum credit cards ranged from a low of 4.00 percent to a high of 23.99 percent, according to Informa Research Services, but have maintained their 11.06 percent average for over a month.
Rates for introductory purchase credit cards stuck with their 2.75 percent average, showing no movement for over a month, with a range of 0 percent to 9.9 percent.
Reward, or incentive-based, credit cards also held on to their average rate, 12.07 percent, but had a wide range of 6.45 percent to 16.9 percent. Again, rates have not moved in over a month.
Below are rates for credit card balance transfers from the top five largest issuers. You can compare rates from more institutions with the rate-search tools above.
Credit Cards: Top 5 National Issuers* As of May 25, 2004
Issuer
Balance Transfer Rate
Bank One
0.00% 12 Mo
Chase
0.00% 12 Mo
Citibank
0.00% 12 Mo
Discover
0.00% 10 Mo
MBNA
1.70% 6 Mo
*Top 5 Card Issuers ranked by credit card loans.
National Credit Card APRs* As of May 25, 2004
Avg
High
Low
Platinum card
11.06%
23.99%
4.00%
Reward card
12.07%
16.90%
6.45%
Intro. purch. rate
2.75%
9.90%
0.00%
*All banks, thrifts, and credit unions within the Informa Research Services database
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