Interest Rate Roundup
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- 13.02% (all fixed)
- 15.13% (all variable)
The average annual percentage rate, or APR, for fixed-rate cards sunk 31 basis points this week to 13.02 percent from 13.33 percent after one bank discontinued one of its fixed-rate cards, according to Bankrate's latest survey of interest rates. A basis point is one-hundredth of 1 percentage point.
BB&T no longer offers its fixed-rate platinum Visa credit card, which carried a 14.9 percent APR. The exclusion of the card lowered the overall APR for fixed-rate cards in Bankrate's survey.
The APR for variable-rate credit cards stayed steady at 15.13 percent for the fourth straight week.
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