There are so many types of credit cards around that it can be hard to work out which is the best. However, one type of card that is quite popular is the fixed rate credit card. Fixed rate credit cards give you the peace of mind that your APR will remain the same for a given time, with all the benefits of a normal card. If you want to know more about fixed rate credit cards, then this article can help you.
What does ‘fixed’ mean?
A fixed rate credit card is a card that has an APR that will remain constant for a certain period of time. Most fixed rate cards offer a fixed APR for around 3 to 5 years. This means that your interest payments will remain the same during this period.
Why get a fixed rate card?
If you have a fixed income and cannot afford your repayments to rise, then getting a fixed rate card would be a good choice. Even before you spend any credit you can work out what the charges will be over the next months and years. This will help you to budget more effectively and know exactly what you will be paying each month. If you want the peace of mind that your repayments will not change, then a fixed rate card is a good...
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