The Key To Decoding The Best Credit Card Rates
The average consumer credit card rate remained at 16.43% and the best credit card rates are tough to find. On an average the US prime rate which is set by the Federal Reserve and is used as a starting point for setting credit card rates was constant at 3.25%.
IndexCreditCards.com surveys the prime rates and has found out that prime rates were mostly constant in the first half of July. They have arrived at a list of companies with the best credit card rates.
This list containing the companies with best credit card rates can be found at www.IndexCreditCards.com . The companies show great restraint in increasing the rates because of regulatory and business reasons. The Federal Reserve also does not change the rates despite fluctuations in the market. This works in the favour of consumers who face relative stability and hence avail of the best credit card rates.
The rates for the student credit cards maintained their constant value around 16.67%. The best credit card rates were for the business non-rewards credit cards which dropped from 14.62% to 14.60%. This decrease is not being attached to any phenomenon but is attributed to updating of the sample constituents.