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Credit card interest rates for April 11, 2013

Claes Bell

Interest Rate Roundup

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Credit Cards

  • 13.02% (all fixed)
  • 15.19% (all variable)

The average annual percentage rate, or APR, for variable-rate credit cards was up 3 basis points to 15.19 percent from 15.16 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 was unchanged at 13.02 percent.

There are currently 18 states considering some kind of a ban on retailers imposing surcharges on consumers who use credit cards, according to a report in American Banker. Some merchants currently impose such charges in order to recover the processing fees charged by the Visa and MasterCard networks.

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