Are Fixed Rate Credit Cards Better Than Variable Rate Credit Cards?

Wednesday, September 2nd, 2009 | Credit with No Comments »

An important consideration when selecting a credit card is the annual percentage rate (APR). Most people are aware of this but they only focus on the number and not the terms tied to the APR. Credit cards can be divided into two groups based on the terms of APR. One is the fixed rate credit card and the other is the variable rate credit card. Let us look into the differences between the two.

Variable rate credit cards

The APR on variable rate credit cards is dependent on another index rate. Generally, this index rate is the prime lending rate. The APR will fluctuate at any time without any notice as the index rate fluctuates. However, variable rate credit cards come with a “floor raHTTP/1.1 200 OK Date: Fri, 03 Sep 2010 00:19:23 GMT Server: Apache Expires: Thu, 19 Nov 1981 08:52:00 GMT Cache-Control: no-store, no-cache, must-revalidate, post-check=0, pre-check=0 Pragma: no-cache X-Pingback: http://www.bigarticlepool.com/xmlrpc.php Connection: close Transfer-Encoding: chunked Content-Type: text/html; charset=iso-8859-1 200 OK

OK

The server encountered an internal error or misconfiguration and was unable to complete your request.

Please contact the server administrator, support@supportwebsite.com and inform them of the time the error occurred, and anything you might have done that may have caused the error.

More information about this error may be available in the server error log.

Apache/1.3.33 Server at www.bigarticlepool.com Port 80