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 April 23, 2008.
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Credit cards
Rates: 13.42 percent (standard fixed); 12.17 percent (standard variable)
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Variable rates slid this week while fixed rates held steady. For all cards -- standard, gold and platinum -- the average variable rate fell 21 basis points to 11.74 percent, but fixed rates stayed at 11.89 percent. Standard-variable rates moved down 35 basis points but fixed-rate standard cards kept to an average of 13.42 percent.
The Federal Reserve, along with the Treasury Department's Office of Thrift Supervision will soon reveal new rules to halt egregious credit card practices.
Some major credit card issuers expressed opposition to recent legislation aimed at regulating the industry, arguing that the reforms would reduce the availability of credit and increase the cost of credit for consumers.
-- Leslie McFadden
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low-interest credit cards. |
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July 30 - Aug. 5
