- 13.81% (all fixed)
- 14.55% (all variable)
Credit card rates were on the move this week, according to Bankrate's latest survey of interest rates. The average annual percentage rate for variable-rate credit cards lost 3 basis points to 14.55 percent from 14.58 percent. The fixed APR rate jumped 10 basis points to 13.81 percent from 13.71 percent. A basis point is one-hundredth of 1 percentage point.
The fixed rate had been at 13.71 percent since late October. It increased this week after Bankrate added BB&T's Platinum fixed-rate card to the survey mix. That card's purchase APR is 14.9 percent.
Social media is becoming more intertwined with credit cards. Last week, the second-largest daily deal website, LivingSocial, unveiled a new co-branded credit card with JPMorgan Chase & Co. On Monday, Barclaycard introduced a credit card that allows cardholders to help determine features and pricing through an online community. And on Tuesday, American Express said it's partnering with Twitter to provide retailer discounts to cardholders who tweet special hashtags.