2009 Credit Card Study
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Any time, any reason; universal defaultLate making a payment or account is overlimit twice, they may increase your APRs to a default rate.Late making a payment or account is overlimit twice, they may increase your APRs to a default rate.
Average daily balance or two-cycle?Average daily balance (including new purchases).Average daily balance (including new purchases).
Late fee range$19 on balances up to $250; $39 on balances over $250.$19 on balances up to $250; $39 on balances over $250.
Overlimit fee$15 on balances up to $500; $39 on balances over $500.$15 on balances up to $500; $39 on balances over $500.
Balance transfer fees: % of amount; minimum and maximum3% of each balance transfer; no maximum.3% of each balance transfer; no maximum.
Cash advance fees: % of advance; minimum and maximum3% for each advance; $5 minimum.3% for each advance; $5 minimum.
Payment related fees: phone, expressPhone: No fee.Phone: No fee.
Other fees (annual, returned check, etc.)Annual: $0
Returned check: $35
Wire: $10
Copy: $0
Annual: $0
Returned check: $35
Wire: $10
Copy: $0
Grace periodAt least 25 days.At least 25 days.
Introductory rate for purchases and balance transfersPurchase: 0% for six months. Balance transfer: 0% for nine months.Purchase: 3.99% for six months. Balance transfer: 3.99% for 12 months.
Default APR rangeUp to 29.99% variable. The default APR may vary monthly and equals the prime rate plus up to 27.99%, but such rate will never exceed 29.99%.Up to 29.99% variable. The default APR may vary monthly and equals the prime rate plus up to 27.99%, but such rate will never exceed 29.99%.
How payments applied to balance?Payments will be applied to balances with lower APRs before balances with higher APRs.Payments will be applied to balances with lower APRs before balances with higher APRs.
How is interest rate set?The prime rate used is the highest prime rate listed in The Wall Street Journal on the last business day of the month.The prime rate used is the highest prime rate listed in The Wall Street Journal on the last business day of the month.
Minimum payment charge2% of balance due including fees and interest.2% of balance due including fees and interest.
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Product Rate Change Last week
Balance Transfer Cards 15.71%  0.01 15.70%
Cash Back Cards 16.36% --0.00 16.36%
Low Interest Cards 10.91% --0.00 10.91%
 
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