News |
 |
|
CreditCards.com: Weekly Credit Card Rate Report
Thu Nov 29, 2007
AUSTIN, Texas--(Business Wire)--Interest rates for select major credit card categories showedmixed direction this week, after comments from a Federal Reserveofficial ignited speculation that the central bank could loosenmonetary policy again before the end of the year. A majority of banks index their credit card annual percentagerates (APRs) to the prime rate, which moves in lock step with Feddecisions. According to the Fed, 54 percent of issuers tie cardinterest rates to prime, with most banks adjusting variable rates 30days or one billing cycle after a change in the prime rate. Among the popular credit card categories tracked byCreditCards.com, airline and student credit cards charged the highestAPRs. Rates for card categories tracked by CreditCards.com are listedbelow:-0-*T
News Source : http://www.reuters.com |
|
