- 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 25, 2011.
The average annual percentage rate, or APR, on fixed-rate credit cards has been static at 13.36 percent all year, and the trend continued in Bankrate's latest survey of rates. The average APR for variable-rate cards, which are far more common, remained unchanged for a fourth consecutive week at 14.46 percent.
The rate of credit card charge-offs, which are delinquent balances that have been written off as uncollectible, improved last month, according to Moody's Credit Card Index. The charge-off rate fell to 7.16 percent from 7.35 percent in March. The firm expects charge-offs to dip below 7 percent in the next two months and below 4 percent by the end of 2012.
Bankrate.com makes it easier to find balance-transfer credit cards and low-interest cards. You can search by issuer, card type or credit score.-- Leslie McFadden