credit cards

Credit card rates for Dec. 22, 2011



I'm Greg McBride, senior financial analyst with and here is your weekly look at credit card rates.

The average variable credit card rate increased to 14.56 percent, tying the high mark for the year that was seen back in September. Meanwhile the average fixed credit card rate, which constitutes fewer than 10 percent of cards among the nation's largest issuers, remains at 13.71 percent as it has for the past 2 months.

While variable credit card rates have been in a very narrow range throughout the year, between 14.34 percent and 14.56 percent, they have increased in 2 of the past 3 weeks as card issuers pass along modest rate hikes to all but the super-creditworthy borrowers. The difference between stellar credit and spotty credit can be the difference between paying rates in the single digits or paying rates in the high teens. Cardholders with improving credit are in the sweet spot as they can shop around to score lower rates and then accelerate their debt repayment with the tailwind of low rates.

For more information on credit cards, and to find the best credit card for your needs, visit

I'm Greg McBride.



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