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Credit card interest rates for Dec. 20, 2012

Janna Herron

Interest Rate Roundup

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Credit Cards

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

The average annual percentage rate for variable-rate credit cards edged up 1 basis point to 14.59 percent from 14.58 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 stayed steady at 14.02 percent for the ninth straight week.

The Consumer Financial Protection Bureau said Wednesday that it is asking for public comment on how the Credit Card Accountability, Responsibility and Disclosure Act of 2009 has affected consumers and the credit card industry. The agency is specifically seeking information on the terms of credit cards and practices by issuers, the effect of protections against unfair or deceptive practices, changes in cost or availability of credit, and the use of risk-based pricing.

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