Credit Cards
- 13.81% (all fixed)
- 14.52% (all variable)
The average annual percentage rate, or APR, for variable-rate credit cards edged up 2 basis points to 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, where it hasn't budged since the beginning of March.
Americans cut back their credit card spending in June, according to new statistics released by the Federal Reserve on Tuesday. Credit card balances fell to $864.6 billion in June from $868.3 billion in May, which recorded the largest month-over-month decrease since November 2007.