Average credit card interest rates for consumers and businesses changed during the first half of December, 2011 despite a stable US bank prime rate of 3.25%. Not all credit card interest rates are directly linked to the prime rate and there are a variety of reasons why the average credit card interest rates might change even with a stable US bank prime rate.
December 2011 Average Credit Card Rates
In December, the difference between interest rates for individuals with good credit compared to individuals with average credit narrowed, dropping between a half a percent to 3.57%. The overall average interest rate for all credit cards is 16.71%.
The only category of credit cards which did not change their average interest rates this quarter are business credit cards. T
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Layaway seems like an obvious alternative to using a credit card, but some programs are actually more expensive than using a credit card for the same purchase amount and time period. If you’re considering layaway, take a look at this article that compares the cost of layaway to the cost of an average rate credit card.
I think by now we all know that if our credit cards are stolen, by all means, call your bank. The bank manager or teller is sort of like the neighborhood cop. If you’re in trouble, that’s who you go to.
Well, almost always.
As you’ll see in a moment, in this week’s look at unusual credit card crimes, in very rare instances your bank may be the last place you want to go. And now while you read this, I’m going to curl up in the fetal position and drink heavily, since red is apparently blue, and up is down. Or maybe I’ll just stick with root beer. Our last story clearly shows that drinking and even thinking about credit cards can be a disastrous combination.
Credit card thief works at a bank
Apparently, Jason Wade Nickle decided that his paycheck wasn’t substantial enough, and that he would need to moonlight as an identity thief.
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— Betty Denney @ 7:51 am — 
December 29, 2011