Interest Rate Roundup
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- 14.02% (all fixed)
- 14.59% (all variable)
The average annual percentage rate for variable-rate credit cards edged up 2 basis points to 14.59 percent from 14.57 percent, according to Bankrate's latest survey of interest rates. A basis point is one-hundredth of 1 percentage point. The average APR for fixed-rate credit cards remained at 14.02 percent for the third consecutive week.
Credit card companies are offering victims of superstorm Sandy -- technically a post-tropical cyclone at landfall -- some relief. JPMorgan Chase & Co. and Wells Fargo are offering to waive late fees on credit card bills, and Citi also is providing financial assistance to those affected. Bank of America, Capital One and American Express are encouraging cardholders to call customer service if they have trouble meeting payments.
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