- 13.02% (all fixed)
- 15.61% (all variable)
Credit card rates were mixed this week, according to Bankrate's latest survey of interest rates.
The average annual percentage rate, or APR, for fixed-rate credit cards was 13.02 percent, where it has held steady since early 2013. The APR for variable-rate cards went down 1 basis point to 15.61 percent. Prior to the dip, it had held at 15.62 percent for two weeks.
A basis point is one-hundredth of 1 percent.
This week, Square announced it has secured funding to expand Square Capital, a cash-advance program for businesses using its credit card readers. The startup says it already has extended nearly $50 million to more than 10,000 businesses through the program.