I'm Doug Whiteman with your weekly look at credit card rates. The average interest rate on variable rate cards broke a five-week holding pattern and inched up to 15.14 percent this week. The average rate on fixed rate cards held steady at 13.02 percent.
According to a FICO spokesperson, the average person with a credit score about 780 has 4 to 5 credit cards showing on their credit report with three that report a balance and are paid down each billing cycle. If you're trying to build your credit score, but putting all of your charges on a single credit card, it might help to shop around for a new rewards card. You can do that right here at Bankrate.com. I'm Doug Whiteman.
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The average interest rate on variable-rate cards inched higher.
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A little research could save you BIG on interest.