Credit Cards
Rates: 13.46 percent (standard fixed); 11.41 percent (standard variable)The average purchase APR for variable-rate credit card offers rose 5 basis points to 11.42 percent, after five weeks at 11.37 percent. The average fixed rate remained at 12.34 percent.
Purchase rates on standards cards haven't changed in weeks. The mean fixed rate lingers at 13.46 percent and the variable rate clings to 11.41 percent.
More than one-third of consumers have paid off and closed a credit card account since January 2008, according to a new Consumer Reports survey. About half of this group blamed adverse actions as the reason, such as cut limits, higher APRs or new fees. The July 2009 survey also found that 45 percent say they spent less on their cards this year versus last, and another 43 percent are charging about the same. A mere 11 percent are piling more purchases onto their cards.
Respondents in the poll tended to be the type to pay their balances in full every month. About 54 percent fell into this group, while 33 percent revolved balances up to $10,000 and 13 percent carried a larger debt load. The median amount owed by consumers with balances under $10,000 was $2,554.
You can find your best credit card deal -- by type -- at Bankrate's interactive tool.
-- Leslie McFadden