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Average US credit card rate 'currently 12.17%'

The average rate on new credit card deals in the US is currently 12.17%, it has been reported.

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4 September 2009

Average US credit card rate 'currently 12.17%'”

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CreditCards.com calculated the statistic by finding an average of 95 of the most popular credit cards in the country, including low interest credit cards, student credit cards and airmile credit cards.

Introductory credit card rates were not included in the study.

A variety of changes for card holders in the US have been introduced since the Credit Card Act was passed, creating some uncertainty among banks, according to the credit card market place website.

The credit card rate survey is conducted every week, and uses information from US card issuers as found on their websites.

One student credit card currently available to UK consumers is the NatWest student card, which has a typical rate of 18.9% APR variable.

The card has a £500 maximum credit limit, helping students to control their spending, and offers discounts on brands such as Lonely Planet and HP.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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