- 13.71% (all fixed)
- 14.52% (all variable)
The average annual percentage rate, or APR, for variable-rate credit cards edged up 2 basis points to 14.52 percent from 14.5 percent, according to Bankrate's latest survey of interest rates. A basis point is one-hundredth of 1 percentage point. The fixed APR didn't budge from 13.71 percent, where it has stayed since late October.
MasterCard strengthened its support to bring EMV-enabled cards, named for developers Europay, MasterCard and Visa, to the U.S. The credit company Monday said it is offering a road map for merchants to transition their point-of-sale terminals or ATMs to accept EMV cards by April 2013.
EMV cards are widely used outside the U.S. and contain an embedded microprocessor that encrypts transaction data uniquely every time it is used. This technology makes it harder for thieves to steal and duplicate card information.