Consumer credit cards experience a drop in the interest rates

Friday, August 5th, 2011

One of the good news for customers today is the fact that the interest rates on consumer credit cards have seen a fall in recent times. In the first two months of July 2011, there was a decline in the interest rates on both rewards and non-rewards credit cards. Though both segments saw a decline, the reason for the drop in each segment was for a different reason.

The average rate of interest on non-rewards credit cards that stood at 15.09% before July fell to just 14.88% this month. This change was not because of any change in the interest rates for all cards in this category, but only because of the change made to the APR of credit cards that were a part of some of the recent surveys.

In the rewards credit card segment, the average rate of interest dropped to 17.09% in the month of July as compared to 17.48% before that. One of the main reasons for this decline was the interest change made to one of the credit cards offered by Capital One, the No Hassles Cash Rewards Card(OFFER EXPIRED).

The interest rate on student credit cards did not see any change. The interest rates on these cards that changed in April this year have remained the same ever since. The current average interest rate in this category is 16.67%.

The interest rates on cards issued to customers with excellent and good credit history also remain unchanged.

Latest Other Card News

Monday, June 6th, 2016
If your wallet is bulging with store loyalty cards, there’s good news for you from Samsung Pay. The most widely accepted mobile digital wallet system in the United States is now ...
Tuesday, April 12th, 2016
Springtime is the season for house hunting, but many people planning to move this year say they’ll rent, not buy, their new digs.
Tuesday, January 5th, 2016
Online banking has revolutionized the way people do business with their banks, and one result is that fewer and fewer folks are actually stopping in to branches to do things like ...
Tuesday, December 8th, 2015
A new credit card from Barclaycard offers cash back rewards, as well as a redemption bonus when cardmembers redeem their rewards.
Monday, June 29th, 2015
Nordstrom agreed to sell its existing U.S. Visa and private label consumer credit card portfolio to TD Bank Group.
Pacific Credit Group Emporium Black Card
Copyright © 2001-2016 BestCreditOffers.com All Rights Reserved.

* The BestCreditOffers.com.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. BestCreditOffers.com.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the BestCreditOffers.com.com website are property of their respective owners.

BestCreditOffers.com makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that BestCreditOffers.com may be compensated by the credit card issuers when the readers apply for a credit card through this site.

BestCreditOffers.com is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. BestCreditOffers.com does not review or list all available financial or credit offers.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.