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National credit card rates for Oct. 11, 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 was unchanged at 14.56 percent this week, according to Bankrate's latest survey of interest rates. A basis point is one-hundredth of 1 percentage point. The fixed APR was also flat, remaining at 13.81 percent, where it has been for the last several months.

It looks like more Americans are keeping up with their credit card bills these days. Credit card delinquencies reached an 11-year low in the second quarter of this year, according to a report this month by the American Bankers Association. Credit card delinquencies dropped 15 basis points to 2.93 percent of all accounts, well below the 15-year average of 3.91 percent.

 

 

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Product Rate Change Last week
Balance Transfer Cards 15.71%  0.01 15.72%
Cash Back Cards 16.41%  0.01 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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