Here's a look at the state of credit card rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Feb. 3, 2010.
Credit CardsRates: 12.4 percent (all fixed); 13.63 percent (all variable)
Average interest rates across all credit cards appeared higher this week, but actual rate movement didn't drive the surge. Bankrate.com expanded its national credit card index to beef up its representation of credit cards in the marketplace. The addition of new cards pushed the average fixed APR from 12.1 percent to 12.4 percent and the variable rate from 12.25 percent to 13.63 percent. Yet, the only real change was that State Farm Bank dropped its $39 overlimit fee.
Also, Bankrate.com will no longer report average interest rates for standard/classic cards. The sample size for standard cards has become too small, following years of gradual decreases as issuers marketed more cards as platinum.
Since the lines have blurred between standard, gold and platinum cards, the mean across all card categories proves the more telling average. For this reason, Bankrate.com will cease reporting the average fixed and variable APR averages for standard cards.
You can find your best credit card deal -- by type -- at Bankrate's interactive tool.
See all credit card rates content.
-- Leslie McFadden