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 Oct. 14, 2009.

Credit Cards

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

Across all consumer credit cards, average interest rates for purchases haven't changed in seven weeks. The mean fixed rate is 12.34 percent, and the average variable rate is 11.42 percent.

Standard fixed-rate cards charge 13.46 percent for purchases, and their variable-rate counterparts offer an average APR of 11.41 percent.

Bank of America will install annual fees ranging from $29 to $99 on some of its rewards credit card accounts starting in February, according to a report from the Associated Press. The news comes after the issuer recently pledged not to raise customers' rates before credit card reforms take effect Feb. 22.

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 15.75%  0.02 15.77%
Cash Back Cards 16.45%  0.03 16.48%
Low Interest Cards 10.96% --0.00 10.96%
 
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