credit cards

National credit card rates for Oct. 4, 2012

Interest Rate Roundup
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Credit Cards

  • 13.81% (all fixed)
  • 14.56% (all variable)

The average annual percentage rate, or APR, for variable-rate credit cards increased 4 basis points to 14.56 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, where it has stayed since the beginning of March.

The Consumer Financial Protection Bureau on Monday ordered American Express to refund $85 million to 250,000 credit card holders for a host of illegal practices. The issuer also must pay a $27.5 million penalty. The CFPB said the company withheld a sign-on bonus from some eligible cardholders, charged illegal late fees, discriminated on the basis of age and misled consumers about the benefits of paying old debt.

 

 

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Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

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Product Rate Change Last week
Balance Transfer Cards 16.42%  0.01 16.41%
Cash Back Cards 16.84%  0.14 16.70%
Low Interest Cards 12.06%  0.20 11.86%
 
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Credit Card Blog

Mike Cetera

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A new Equifax survey of American consumers reveals some of the misconceptions we have about credit.  ... Read more


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