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Credit card rates rise
Rates for credit cards and CDs tick higher while checking and money market account rates fall.
November 16, 2005: 4:27 PM EST
CDs & Money Market
MMA 0.69%
$10K MMA 0.42%
6 month CD 0.94%
1 yr CD 1.49%
5 yr CD 1.93%

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NEW YORK (CNN/Money) - Consumer interest rates for credit cards edged higher, while money market and checking account rates were little changed the week ending November 15th, according to the latest Informa Research Services survey.

The average annual percentage rate, or APR, for platinum cards rose to 11.80 percent from 11.77 a week earlier. Rates ranged from a low of 5.90 percent to a high of 19.80 percent for the week and stood at an average of 11.83 percent a month earlier.

Interest rates for banking products also rose, with 12-month CDs rising to a 3.26 percent average annual percent yield, or APY, from 3.23 the previous week. Rates were 3.17 a month earlier.

The average interest rate for money markets remained flat on the week at 1.20 percent, with a range of 0.02 percent to 4.03 percent. Rates stood at 1.16 percent a month earlier.

Interest rates for checking accounts were also flat at 0.41 percent on average, and stood at 0.41 a month earlier. Rates ranged from 0.01 percent to 4.59 percent the week ended November 15th.

Below are the rates for key savings products from the 10 largest banks. You can compare rates for banking products, as well as credit cards, using the rate-search tools above.  Top of page

TOP TEN COMMERCIAL BANKS & SAVINGS INSTITUTIONS
As of November 15, 2005
Institution* State 6 Month CD
$25,000 APY
12 Month CD
$25,000 APY
Interest
Checking
$5,000 APY
Money Market
$25,000 APY
Bank of America NC 2.59% 3.25% 0.10% 1.50%
Wachovia Bank NC 2.60% 2.90% 0.50% 1.93%
JPMorgan Chase Bank NY 3.10% 3.40% 0.30% 2.00%
Chase IL 3.00% 3.40% 0.75% 2.60%
U.S. Bank - Cleveland OH 1.25% 1.75% 0.20% 2.00%
Bank of America - RI RI 2.24% 3.25% 0.10% 2.10%
Citibank NY 3.35% 3.55% 0.80% 2.50%
Washington Mutual Bank CA 2.15% 4.00% 0.40% 2.80%
Wells Fargo Bank CA 2.25% 2.95% 2.35% 2.80%
SunTrust Bank GA 2.85% 3.25% 0.10% 2.10%
Top Ten Avg   2.54% 3.17% 0.56% 2.23%
* Ranked by total deposit size
Source: Informa Research Services, Inc., 800-848-0218. © 2005. All rights reserved. May not be reproduced or retransmitted in any form without express written consent of Informa Research Services, Inc.


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