Credit card rates remain unchanged again this week

For over a month, the national average interest rates for both fixed- and variable-rate credit cards have held at the same levels. This week was no different.

According to the consumer financial information website Bankrate, there was no change in credit card interest rates this week. The mean annual percentage rate on fixed credit cards remained at 13.74 percent, while the national average rate for variable cards stood pat at 14.39 percent.

Both rates have been at their current levels since June. The last time the average for fixed-rate cards increased was the last week of March. In more recent months, the national average on variable-rate credit cards has been slightly more volatile, increasing slightly at the end of June after a sharp rise in mid-May.

The new financial reform bill that President Barack Obama signed into law on July 21 could limit further increases in interest rates sometime soon, as it creates an arm of the Federal Reserve System that is specifically designed to protect consumers from the harmful practices of credit card lenders.