Credit Cards
- 13.71% (all fixed)
- 14.48% (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 stayed steady at 14.48 percent. The fixed rate remained at 13.71 percent, where it has been for five straight weeks.
JPMorgan Chase & Co. announced Monday that they are adding EMV (named for its creators: Europay, MasterCard and Visa) technology to their British Airways Visa Card. It will become the third credit card Chase offers with an embedded microprocessor chip. EMV cards have enhanced security because the chip encrypts transaction data uniquely every time the card is used. That makes it difficult for thieves to clone the card. These types of cards are also widely used around the world versus the traditional magnetic-stripe card found in the U.S.