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National credit card rates for June 23, 2011

Interest Rate Roundup
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Credit Cards

  • 13.36% (all fixed)
  • 14.42% (all variable)

Credit card rates stayed steady for the second straight week in Bankrate's latest survey of interest rates. The average APR for variable-rate credit cards remained at 14.42 percent. The fixed rate for credit card purchases was 13.36 percent. The fixed rate hasn't budged all year.

U.S. Bank became part of a small, but growing, group of American credit card issuers to offer chip and PIN, or EMV-enabled, credit cards. EMV is an acronym for Europay, MasterCard and Visa, the developers of the technology. EMV cards use a microchip and a personal identification number to authorize a transaction instead of a signature. They are commonly used in Europe, whereas swipe-and-sign cards, or those with traditional magnetic strips, are more commonly seen in the United States. Wells Fargo and Chase, along with several credit unions, also offer EMV cards.

U.S. Bank said this week its FlexPerks Travel Rewards Visa card will feature the EMV technology, along with traditional magnetic stripe cards and contactless payment systems, where a cardholder makes a purchase by tapping the card at an electronic reader.

-- Janna Herron




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Product Rate Change Last week
Balance Transfer Cards 16.12%  0.05 16.07%
Cash Back Cards 16.45%  0.01 16.44%
Low Interest Cards 11.23%  0.02 11.21%
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