credit cards

National credit card rate averages for April 2, 2009

Here's a look at the state of interest rates on five common consumer banking products and the latest rates from's weekly national survey of large banks and thrifts conducted April 1, 2009.

  • Mortgages
  • CDs
  • Auto Loans
  • Home Equity
  • Credit Cards

Credit Cards

Rates: 13.56 percent (standard fixed); 10.73 percent (standard variable)

On standard credit cards, average rates held steady. The fixed rate is 13.56 percent and the variable rate is 10.73 percent. Across all cards, the average fixed rate sat at 12.33 percent for the fourth consecutive week. The variable rate bumped up 3 basis points to 10.69 percent. Variable rates for standard, gold and platinum cards have fluctuated below 11 percent since December.

Credit card reform advanced in Congress this week. Yesterday the U.S. Senate Banking Committee approved a bill aimed at ending egregious credit card practices. Known as the "credit card accountability responsibility and disclosure bill," or "credit CARD bill," it would end universal default and double-cycle billing, limit fees and restrict the issuance of credit cards to those aged under 21.

Today, a House Financial Services Subcommittee will consider H.R. 627, the "credit cardholders' bill of rights," legislation that would also improve credit card protections for consumers.

You can find your best credit card deal -- by type -- at Bankrate's interactive tool.

-- Leslie McFadden



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Product Rate Change Last week
Balance Transfer Cards 15.77%  0.01 15.78%
Cash Back Cards 16.48% --0.00 16.48%
Low Interest Cards 10.96% --0.00 10.96%
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