Interest Rate Roundup
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- 13.33% (all fixed)
- 15.13% (all variable)
Credit card rates stayed steady this week, according to Bankrate's latest survey of interest rates. The average annual percentage rate for variable-rate credit cards remained at 15.13 percent for the second consecutive week. The fixed rate was unchanged at 13.33 percent, also for the second straight week.
A new study from The Ohio State University showed that young Americans in their late 20s and early 30s carry markedly higher credit card debt than older generations. It also found that they pay off their balances at a much slower pace than previous generations. The study looked at how much people borrow and how much they pay off using data from Capital One for more than 32,000 people.
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