Average APRs for platinum, reward, and introductory purchase cards pull back. August 17, 2004: 5:45 PM EDT
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NEW YORK (CNN/Money) - Credit card interest rates eased the week ending Aug. 10, with the average annual percentage rate, or APR, for platinum cards dipping to 10.78 percent from 10.81 percent the previous week.
Interest rates on platinum credit cards ranged from a low of 4.25 percent to a high of 19.99 percent for the week, according to Informa Research Services. A month earlier, the average rate stood at 10.81 percent.
Rates for introductory purchase credit cards pulled back to a 2.09 percent average, down from 2.15 percent the week prior, and stood at 2.21 percent a month earlier. For the week ended Aug. 10, rates ranged from zero percent to 9.9 percent.
Reward, or incentive-based, credit cards fell to an 11.86 percent average with a range of 5.9 percent to 16.9 percent. Rates stood at 11.9 percent the previous week and 11.85 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.
