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credit cards

National credit card rate averages

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

Credit Cards

Rates: 13.46 percent (standard fixed); 11.08 percent (standard variable)

Variable interest rates soared this week. The mean variable rate rose 14 basis points to 11.04 percent, and the standard variable rate jumped 28 basis points to 11.08 percent.

Fixed-rate averages haven't moved in four weeks. The average fixed rate came to 12.26 percent, and the standard-fixed rate came in at 13.46 percent.

On Wednesday, the Obama administration sent a bill to Congress that would create the new Consumer Financial Protection Agency. The regulator would oversee credit cards, as well as other financial products and services. It will have the power to enforce the new credit card law and set standards for card issuers.

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

-- Leslie McFadden

 

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