Interest Rate Roundup
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- 13.81% (all fixed)
- 14.45% (all variable)
Credit card rates didn't budge this week, according to Bankrate's latest survey of interest rates. The average annual percentage rate, or APR, for variable-rate credit cards remained at 14.45 percent for the third straight week. The fixed APR was 13.81 percent, where it has been since the first week of March.
A new survey from policy center Demos found that the Credit CARD Act of 2009 has helped households save money on credit card fees and pay down debt faster. Just over a quarter of households reported accruing late fees this year compared with half in Demos' previous survey in 2008. A third of households said they are reducing their balances quicker after reading new credit card statement disclosures that show how costly making the minimum payment is.
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