Credit Cards
Rates: 13.42 percent (standard fixed); 10.98 percent (standard variable)For the ninth consecutive week, the average fixed rate for all cards stood at 12.06 percent. On standard card offers, the fixed rate average remained at 13.42 percent. Variable-rates have been trending downward, and this week, fell 5 basis points to 10.79 percent for all cards and dropped 4 basis points to 10.98 percent for standard cards. A basis point is one-hundredth of a percentage point.
Rep. Carolyn Maloney, D-N.Y., chair of the House Financial Institutions and Consumer Credit Subcommittee, reintroduced the Credit Cardholders Bill of Rights Act in the House of Representatives on Jan. 15, along with Sens. Charles Schumer and Mark Udall, who sponsored the Senate version. In September the bill passed the House but never came to a vote in the Senate. The legislation addresses many of the abusive practices covered by the rules recently approved by regulators, but could take effect as soon as 90 days after President Barack Obama signs it into law. The new credit card reforms don't apply until July 2010.
You can find your best credit card deal -- by type -- at Bankrate's interactive tool.
-- Leslie McFadden