X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, Va. – Credit card interest rates are moving higher, according to Cardweb.com, a site on the World Wide Web that tracks credit card data. The site reported that the rates are rising “despite the stable rate environment.” The site blamed the rise on the “punitive” rate policies of many of the nation’s top issuers, including MBNA. The leading card issuer and purchaser of credit unions’ card portfolios now charges rates as high as 24.98%, Cardweb reports. Annual percentage rates hit bottom in December of last year at 14.32% but have increased to 14.71% since then. The average rate for variable-rate cards now stands at 14.89% versus 14.57% for fixed-rate cards, the site reported.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.