The averages for fixed-and variable-rate platinum, gold and standard cards went in different directions this week. The fixed rate inched upward 1 basis point to 11.89 percent and the variable rate scooted down 10 basis points to 12.26 percent. Standard-variable cards came down 12 basis points to 12.77 percent and standard-fixed cards stayed at 13.42 percent.

Tuesday the Federal Open Market Committee made its sixth rate cut in six months, and reduced the federal funds target rate by another three-quarters of a percentage point.

Most variable-rate credit cardholders with FICO credit scores over 700 should see their rates drop within three months. Consumers won't see their APRs dip below a floor or minimum rate on their cards, so they should read their credit card agreement and scour change-in-terms notices for mentions of a floor rate. Read "Smart strategies" for more tips.

-- Leslie McFadden

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