What is the average credit card rate & annual fee?

Consumers looking for good deals on credit cards need to shop around and compare carefully.

The average purchase rate for credit cards rose by 0.12 per cent to 17.03 per cent during the three months to the end of December 2015. However there are plenty of credit cards with low rates under 12 per cent.

The average credit card annual fee rose $5.12 to $94.46. However there are plenty of credit cards with no annual fees.

The rise in average credit card rates and fees is due to the entry of some new premium cards into the market.

Source: Bankheadlines.com.au

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