Here's a look at the state of credit card rates from Bankrate.com's weekly national survey of large banks and thrifts conducted June 9, 2010.
Credit CardsRates: 13.7 percent (all fixed); 14.37 percent (all variable)
The average APR on variable-rate credit cards rose to 14.37 this week, up 9 basis points since the last survey. Fixed rates have averaged 13.7 percent for 12 consecutive weeks.
This week Congress will begin work on a final financial reform bill that merges versions passed by the House and Senate. The Senate bill includes a provision that would limit interchange fees on debit card transactions and allow retailers to offer customers a discount for using cheaper payment methods. Another provision would give consumers a free credit score anytime a credit check resulted in a denial or other adverse action. Consumers would receive the score actually used against them.
Bankrate.com makes it easier to find low-rate credit cards and credit cards with rewards. You can search by issuer, card type or credit score.
-- Leslie McFadden