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For those of you with a beautiful credit rating, Capital One has introduced a new card directed toward you. The "PrimeLock Platinum Card" is a no annual fee credit card with an interest rate that mirrors the the prime rate (currently 5%). The card adjusts its interest rate monthly according to the current prime rate.
While credit cards have previously been introduced that mirror the prime rate for interest, these have always had large annual fees. The PrimeLock Platinum Card is the first to offer a lifetime rate pegged to the prime rate without the annual fee.
The catch? The card is available by invitation only and will only be going out to people with superior credit ratings. While this rate will beat the majority of credit card interest rates, if you take the time to look for promotional offers, you can still find cards that will give you 0% financing for certain periods of time.
While credit cards have previously been introduced that mirror the prime rate for interest, these have always had large annual fees. The PrimeLock Platinum Card is the first to offer a lifetime rate pegged to the prime rate without the annual fee.
The catch? The card is available by invitation only and will only be going out to people with superior credit ratings. While this rate will beat the majority of credit card interest rates, if you take the time to look for promotional offers, you can still find cards that will give you 0% financing for certain periods of time.