Bank credit card interest rates up from 1994.
Based on a survey of 577 U.S. banks, savings institutions and credit
unions that issue Visa, MaterCard, Discover and Optima credit cards, the
average interest rate charged to customs is rising, while annual fees
are slightly lower than they were one year ago. (The card issuers each
have at least $100 million in receivables Receivables
An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed , with an aggregate market
share of 94%.
Standard cards' national averages
Interest rate Annual fee
5/94 5/95
15.69% $16.14
17.11% $16.00
Source: RAM Research's Bankcard Barometer, May 1995
COPYRIGHT 1995 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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