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Survey: Average card APR remains unchanged at 15.19 percent

Average rates on new credit card offers stayed put this week, according to the CreditCards.com Weekly Credit Card Rate Report. None of the cards tracked by CreditCards.com advertised new interest rates. As a result, the national average annual percentage rate (APR) remained at 15.19 percent for the fourth consecutive week. Most card issuers left promotional APRs, such as 0 percent balance transfer offers and 0 percent purchase rates, unchanged as well.

CNP Report Audio Podcast Thurs. May 12, 2016

Card-not-present fraud losses in the U.S. will reach $7.2 billion annually by the end of 2020 and account takeover fraud will generate another $1 billion in losses, according to a new report. As its name implies, EMV: Issuance Trajectory and Impact on Account Takeover and CNP postulates that the ongoing issuance of chip-enabled payment cards in the U.S. will have a significant impact on both CNP fraud and account takeover fraud as criminals look for easier ways to monetize stolen data.

Those Chip Cards Have a Long Way to Go

My wallet now hides three different computers. But what’s more intriguing—or perplexing or annoying—is how rarely I use the tiny chips in my three principal credit cards that can confirm purchases via an encrypted exchange of data with credit-card terminals in stores. More than six months after a long-heralded milestone that was supposed to make “EMV” a core part of paying with plastic, most of my transactions still entail swiping the card’s magnetic stripe instead of dipping its chip into a point-of-sale terminal.

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