Credit Card News: Banks Increase APR Rates (August 3, 2022)

Credit Card News: Banks Increase APR Rates (August 3, 2022)

This week some issuers have changed the terms and fees for their credit card offers. Let’s take a closer look at the new rates.

Transportation Alliance Bank Credit Cards

Transportation Alliance Bank has updated the Mission Lane Visa® Credit Card rates. The new APR for purchases is 26.99% – 29.99% Variable (29.00% Variable for cash advances). The annual card maintenance fee has not changed.

Merrick Bank Credit Cards

Merrick Bank has also announced new rates for its credit cards:

Card name New APR on purchases New Cash Advances APR
The Merrick Bank Double Your Line® Secured Mastercard®19.70% 24.70% Variable
The Merrick Bank Secured Mastercard®19.70% 24.70% Variable
The Merrick Bank Double Your Line® Mastercard®21.70 - 30.70% 26.70 - 35.70% Variable

Synovus Bank Credit Cards

Pay your attention to the new First Progress credit card updates too.

The First Progress Platinum Elite Mastercard® Secured Credit Card now has an interest rate of 22.24% on purchases (27.24% Variable on cash advances).

The current APR rate for the First Progress Platinum Prestige Mastercard® is 12.24% variable for purchases (21.24% variable for cash advances).

The interest rate you’ll pay with the First Progress Platinum Select MasterCard® Secured is 16.24% variable APR on purchases (22.24% Variable for Cash Advances).

The First Latitude Platinum Mastercard® Secured Credit Card has an interest rate of 21.49% Variable on purchases (26.49% Variable on cash advances).

Celtic Bank Credit Cards

And the last credit card on the list is the Deserve Edu credit card. The APR on this card has increased from 20.24% to 20.99% Variable.

It should be noted that the rates for all cards listed above have changed, but the annual fee and other fees remain the same.

Table of contents
  1. Transportation Alliance Bank Credit Cards
  2. Merrick Bank Credit Cards
  3. Synovus Bank Credit Cards
  4. Celtic Bank Credit Cards