credit cards

National credit card rates for May 24, 2012

Interest Rate Roundup
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Credit Cards

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

Credit card rates didn't budge this week, according to Bankrate's latest survey of interest rates. The average annual percentage rate, or APR, for variable-rate credit cards remained at 14.45 percent for the third straight week. The fixed APR was 13.81 percent, where it has been since the first week of March.

A new survey from policy center Demos found that the Credit CARD Act of 2009 has helped households save money on credit card fees and pay down debt faster. Just over a quarter of households reported accruing late fees this year compared with half in Demos' previous survey in 2008. A third of households said they are reducing their balances quicker after reading new credit card statement disclosures that show how costly making the minimum payment is.

 

 

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Product Rate Change Last week
Balance Transfer Cards 15.77%  0.06 15.71%
Cash Back Cards 16.44%  0.03 16.41%
Low Interest Cards 10.96%  0.10 10.86%
 
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