Annual percent rates for platinum and reward cards edge up, but intro purchase card rates ease. July 21, 2004: 11:13 AM EDT
Credit Card Rates
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NEW YORK (CNN/Money) -
Credit card interest rates were mixed the week ended July 20, with the average annual percentage rate, or APR, for platinum cards rising to 10.83 percent from 10.81 percent the previous week.
Interest rates on platinum credit cards ranged from a low of 4 percent to a high of 19.99 percent for the week, according to Informa Research Services. A month earlier, the average rate stood at 11.06 percent.
Rates for introductory purchase credit cards pulled back modestly to a 2.19 percent average from 2.21 the previous week and are off their 2.75 percent average held a month earlier. For the week ended July 20, rates ranged from zero percent to 9.9 percent.
Reward, or incentive-based, credit cards rose to a 11.87 percent average with a range of 5.9 percent to 16.9 percent. Rates stood at 11.85 percent the week prior and 12.07 percent a month earlier.
Below are APRs as well as rates for credit card balance transfers from the top five largest issuers. You can compare rates from more institutions with the rate-search tool above. Plus, see the latest on savings rates and mortgage rates.
Credit Cards: Top 5 National Issuers* As of July 20, 2004
