Credit card interest rates for Jan. 3, 2013

Interest Rate Roundup
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Credit Cards

  • 14.02% (all fixed)
  • 14.59% (all variable)

Credit card rates started the year as they ended 2012, according to Bankrate's latest survey of interest rates. The average annual percentage rate, or APR, for variable-rate credit cards remained at 14.59 percent. The average APR for fixed-rate credit cards stayed steady at 14.02 percent, where it has been since mid-October.

Discover on Wednesday unveiled a new rewards credit card called the Discover it card. It features no annual fee, no fee on the first late payment and no penalty APR for paying late. It earns 5 percent back on every dollar spent in quarterly, rotating categories -- up to a quarterly maximum. All other purchases earn 1 percent back.

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