credit cards

National credit card rates for May 10, 2012

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Credit Cards

  • 13.81% (all fixed)
  • 14.45% (all variable)

The average annual percentage rate, or APR, for variable-rate credit cards dipped 2 basis points to 14.45 percent from 14.47 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, where it has been since the first week of March.

Bank of America has launched two new travel rewards credit cards for consumers and one for business owners. Rewards earned on the card can be redeemed at any airline, hotel or other travel company, a first for the bank. Before, Bank of America offered only cobranded travel rewards cards with Alaska Airlines, Hawaiian Airlines, AAA, Royal Caribbean, Virgin Atlantic and Norwegian Cruise Line.

 

 

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Product Rate Change Last week
Balance Transfer Cards 15.70%  0.02 15.72%
Cash Back Cards 16.40% --0.00 16.40%
Low Interest Cards 10.86% --0.00 10.86%
 
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Credit Card Blog

Jeanine Skowronski

CFPB: Lender distorted credit reports

The Consumer Financial Protection Bureau has an eye on credit reporting issues. The agency took enforcement action against auto financer First Investors Financial Services Group Inc. Wednesday for distorting consumer credit records for years. Per the CFPB, First Investors, which lends primarily to subprime borrowers, failed to fix known flaws in a computer system that  ... Read more

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