- 13.36% (all fixed)
- 14.46% (all variable)
Here's a look at the state of credit card rates from Bankrate.com's weekly national survey of large banks and thrifts conducted May 11, 2011.
Credit card rates were unchanged in the latest Bankrate survey. The average variable interest rate for credit card purchases remained 14.46 percent. Fixed-interest rates, which are less common in the industry, have averaged 13.36 percent all year.
Credit card balances grew at an annualized rate of 2.9 percent in March, according to the Federal Reserve's latest report on U.S. consumer credit. Revolving credit, which is mostly comprised of credit card debt, rose by $1.9 billion from the previous month to $796.1 billion. The expansion is only the second in more than two years of monthly decreases in total revolving debt.
Bankrate.com makes it easier to find cash-back credit cards and low-interest cards. You can search by issuer, card type or credit score.-- Leslie McFadden