- 13.81% (all fixed)
- 14.49% (all variable)
The average annual percentage rate for variable-rate credit cards dipped 3 basis points to 14.49 percent from 14.52 percent, according to Bankrate's latest survey of interest rates. A basis point is one-hundredth of 1 percentage point. The fixed APR remained at 13.81 percent for the third straight week.
Americans love to redeem their credit card rewards for money, according to a Capital One survey released this week. Cash is the top redemption choice among surveyed consumers at 45 percent, followed by gift cards and domestic flight tickets. More than a third of consumers apply their cash rewards to their statements, while almost a quarter socks it away in savings and 18 percent spend it on themselves.