Interest Rate Roundup
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- 13.02% (all fixed)
- 15.36% (all variable)
The average annual percentage rate, or APR, for variable-rate credit cards increased 5 percentage points to 15.36 percent from 15.31 percent, according to Bankrate's latest survey of interest rates. A basis point is one-hundredth of 1 percentage point. The APR for fixed-rate cards stayed steady at 13.02 percent, where it's remained since mid-February.
The Federal Reserve said Monday that total revolving debt -- also known as credit card debt -- decreased less than a half-percent in August to $849.8 billion from $848.9 billion in July. That marked the third straight month of declines in credit card spending.
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