Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted July 2, 2008.
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Credit cards
Rates: 13.42 percent (standard fixed); 11.67 percent (standard variable)
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Variable-interest rates on credit cards scooted down 1 basis point this week. The average fixed rate for all cards -- standard, gold and platinum -- remained 11.88 percent, but the average variable rate fell to 11.27 percent. Standard fixed-rate cards stayed at 13.42 percent and standard variable-rate cards dropped to 11.67 percent.
Expect closer scrutiny of your credit usage as issuers deal with increasing delinquencies and cardholder debt. American Express already reports a rise in late payments from its cardholders. Both Discover Financial Services and Washington Mutual expect higher credit card losses later this year while J.P. Morgan Chase & Co. forecasts more charge offs in 2009.
In April, consumers owed a record $956.9 billion in revolving debt, up from $894.8 billion last year, according to the Federal Reserve.
-- Leslie McFadden
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July 30 - Aug. 5
