- 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 4, 2011.
The average variable interest rate for credit card purchases crept 2 basis points higher from last week to 14.46 percent, the highest average to-date for 2011. Fixed-interest rates, which are less common in the industry, have averaged 13.36 percent all year.
Besides the interest rate, one important feature of all credit cards is the built-in fraud protection. Federal law protects credit card users from being liable for more than $50 in fraudulent transactions once they report their card lost or stolen. Customers using Sony PlayStation Network, Sony Online Entertainment or Qriocity services may be thankful for that safeguard if recent security breaches exposed their card data. Debit cards and credit cards differ dramatically in terms of fraud protection.
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