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Interest Rate Summary Credit Cards
Blog Post Date: Feb 23 2010
Interest Rate Summary Credit Cards
Here is a look at the state of credit card rates from the weekly national survey of large banks and thrifts conducted Feb. 17, 2010 by Bankrate.com
Rates: 13.39% (all fixed); 13.63% (all variable)
Credit card interest rate averages stayed flat within the week. The average fixed rate for purchases with your standard, gold, and platinum cards kept to 13.39% and the mean variable rate remained 13.63%. One issuer in our weekly survey, the Suncoast Schools Federal Credit Union, stopped charging its $25 overlimit fee.
New research from the Pew Safe Credit Cards Project shows that the interest rate restrictions included in the 2nd phase of the Credit Card Accountability, Responsibility and Disclosure, or CARD,-Act of 2009, which will take effect on Monday, will save the consumers a minimum of $10 billion per year. The 3rd round of provisions rolls out on Aug. 22, 2010, including gift card protections and a requirement that the penalty fees be "reasonable and proportional."
You can find your best credit card deal at Bankrate's interactive tool.
-- Leslie McFadden
VIA bankrate
Here is a look at the state of credit card rates from the weekly national survey of large banks and thrifts conducted Feb. 17, 2010 by Bankrate.com
Rates: 13.39% (all fixed); 13.63% (all variable)
Credit card interest rate averages stayed flat within the week. The average fixed rate for purchases with your standard, gold, and platinum cards kept to 13.39% and the mean variable rate remained 13.63%. One issuer in our weekly survey, the Suncoast Schools Federal Credit Union, stopped charging its $25 overlimit fee.
New research from the Pew Safe Credit Cards Project shows that the interest rate restrictions included in the 2nd phase of the Credit Card Accountability, Responsibility and Disclosure, or CARD,-Act of 2009, which will take effect on Monday, will save the consumers a minimum of $10 billion per year. The 3rd round of provisions rolls out on Aug. 22, 2010, including gift card protections and a requirement that the penalty fees be "reasonable and proportional."
You can find your best credit card deal at Bankrate's interactive tool.
-- Leslie McFadden
VIA bankrate
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