I'm Lucas Wysocki with your weekly look at credit card rates. The average fixed rate credit card continues to sit right at 13.81 percent, the same place it's been since March. The average variable-rate credit card APR jumped up 4 basis points since last week, coming in at 14.56 percent.
If you're an American Express cardholder, you might be receiving a check in the mail in the next few weeks. The Consumer Financial Protection Bureau on Monday ordered American Express to refund $85 million to 250,000 credit cardholders for a host of illegal practices. The CFPB said the company withheld a sign-on bonus from some eligible card holders, charged illegal late fees, discriminated on the basis of age and misled consumers about the benefits of paying old debt. AmEx must also pay a $27.5 million penalty.
For the latest credit card news and to search for a credit card that suits your needs, check out Bankrate.com. I'm Lucas Wysocki.
The average variable credit card rate increased to 15.16 percent.
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A little research could save you BIG on interest.