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 Sept. 23, 2009.

Credit Cards

Rates: 13.46 percent (standard fixed); 11.41 percent (standard variable)

Average credit card interest rates held steady again this week. The average fixed rate for purchases remained at 12.34 percent while the mean variable rate parked at 11.37 percent.

Standard-fixed rates averaged 13.46 percent and standard-variable rates persisted at 11.41 percent.

More than 50 percent of consumers say their credit limits were slashed in the past 180 days, according to poll results released Sept. 16 from credit card comparison Web site CardRatings.com. The findings coincide with an August study from FICO, the credit score developer, which reported that 24 million saw their lines cut between October 2008 and April 2009 despite having no new "risk triggers" in their credit reports, such as late payments.

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 15.71%  0.02 15.69%
Cash Back Cards 16.41%  0.01 16.40%
Low Interest Cards 10.86% --0.00 10.86%
 
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