What to Know About Credit Cards Courtesy of Minneapolis-St. Two-thirds of the companies will raise the interest rate on your card if you pay late. Penalty rates range from 14.5 percent to 30 percent. All but four of the 45 companies charge transaction fees for cash advances. Half charge 3 percent of the amount withdrawn.
Most cards have no annual fees.
Interest rates on all cards averaged 15.16 percent, only slightly higher than a year ago. The prevailing low rate was 9.99 percent, compared with 7.99 percent in last year's survey.