Variable rate or fixed rate credit cards?

**kork13** · 01-09-2009, 11:20 AM

Do you normally carry a balance on your card? If not, the rate shouldn't really matter, because there's nothing for them to charge the rate against...

For now, you're probably safe with the variable rate. I believe the prime rate is tied to the Federal funds rate (currently hovering just above 0%), and from most indications, it's not likely to move too much anytime within the next few months. It could eventually bite you, but if you check rates regularly, I think you're probably fine.

**maat55** · 01-09-2009, 01:18 PM

I've found that most CC companies will find a reason to raise your rates, variable or not, I would not carry a balance and only pay in full.

**waijai** · 01-09-2009, 01:42 PM

Well since I'm still working on paying off the card, I will carry a balance until I'm CC debt free.

**waijai** · 01-09-2009, 01:43 PM

I've never had Chase raise my rates in the 12 years I've been with them. Zero late payments on everything as well. Just grinding away at it...

**maat55** · 01-09-2009, 01:56 PM

Originally posted by waijai View Post

I've never had Chase raise my rates in the 12 years I've been with them. Zero late payments on everything as well. Just grinding away at it...

With good credit, are you not able to rollover to a 0% card? I've noticed that I am not getting any offers lately.

**GREENBACK** · 01-09-2009, 02:26 PM

The only company that ever contacts me is BOA. I did a balance transfer with them years ago and don't know why they mail me anything since I have no balances on anything.

**waijai** · 01-12-2009, 12:32 PM

If I balance transfer a few thousand over to an intro 0%, I don't foresee being able to pay off that lump by the time the intro rate is expired. I'm sure it'll save me SOME money, but I just have one single credit card at this time with a large balance of over $13k.

Variable rate or fixed rate credit cards?