Interest Rate Roundup
- All fixed: 13.02%
- All variable: 15.79%
Credit card rates were mixed this week, according to Bankrate's weekly survey of interest rates.
The average annual percentage rate, or APR, for fixed-rate credit cards was 13.02 percent, where it has held for more than two years. However, the APR for fixed-rate credit cards rose 3 basis points to 15.79 percent. The APR for variable-rate credit cards has been climbing recently, spiking 6 basis points during the week of Feb. 19.
A basis point is one-hundredth of 1 percent.
Costco recently announced that Citi will become the exclusive issuer of its co-branded credit card, while Visa will take over as its credit card network beginning April 1, 2016. Last month, American Express announced its co-brand and merchant agreements with Costco will end next year.