- 13.02% (all fixed)
- 15.57% (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 stayed at 13.02 percent, where it has held since early 2013. However, the APR for variable-rate credit cards went down 4 basis points to 15.57 percent. The APR for variable-rate credit cards had held at 15.61 percent over the past two weeks after dropping 2 basis points during the week of July 2.
This week, a few big banks indicated credit card revenue was making up for declines in mortgage lending and trading. According to Bloomberg, JPMorgan Chase and Citigroup reported a year-over-year rise in card revenue as part of their second-quarter earnings, while Wells Fargo reported a rise in card fee revenue.