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National credit card rates for July 5, 2012

Interest Rate Roundup
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Credit Cards

  • 13.81% (all fixed)
  • 14.5% (all variable)

The average annual percentage rate, or APR, for variable-rate credit cards rose 4 basis points this week to 14.5 percent from 14.46 percent after one issuer increased the high end of its interest-rate range, according to Bankrate's latest survey of interest rates. A basis point is one-hundredth of 1 percentage point.

The fixed APR remained steady at 13.81 percent, where it has been since the first week of March.

Credit card holders are paying down their outstanding balances at the fastest rate on record, according to the latest Fitch Ratings index, which started in 1991. Additionally, card delinquencies hit their second-lowest level in 18 years in June's reading, which measures credit card performance through the end of May. The percentage of credit card accounts that were deemed uncollectible also declined after increasing the previous month.




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Product Rate Change Last week
Balance Transfer Cards 15.75%  0.02 15.77%
Cash Back Cards 16.45%  0.03 16.48%
Low Interest Cards 10.96% --0.00 10.96%
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