This week variable-rate averages declined while fixed rates stood still. For standard, gold and platinum cards, the fixed rate average stayed at 11.88 percent but the variable rate dropped 2 basis points to 11.25 percent. The same pattern occurred with standard cards -- the fixed rate remained 13.42 percent and the variable rate sunk 1 basis point to 11.66 percent.

Nearly 20 percent of 3,004 people in credit counseling said they spent their tax stimulus checks on reducing credit card debt, according to a new national survey from Consumer Credit Counseling Service of Greater Atlanta. About 30 percent put the money toward everyday purchases, such as food and gas.

Estimate how long it will take to eliminate your balances by using Bankrate's debt pay-down calculator.

-- Leslie McFadden

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