Interest Rate Roundup
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- 14.02% (all fixed)
- 14.58% (all variable)
The average annual percentage rate for variable-rate credit cards slipped 1 basis point to 14.58 percent from 14.59 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 fourth straight week.
Credit card companies are helping their cardholders support relief efforts for Superstorm Sandy. Citi, Discover and JPMorgan Chase & Co. are encouraging their customers to donate a portion of their rewards points to nonprofits working on recovery needs. American Express is waiving its transaction fee for donations made with its credit and charge cards through the end of the year. And Capital One and Discover are matching donation contributions by cardholders.
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