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Topic Variable rates? Go to previous topic Go to next topic Go to higher level

By lamlash On 05/17/02  

Some credit cards offeer rates with variable beside them. Am I to assume that the ones that don't have variable beside them are 'fixed' rates?



By colin On 05/17/02  

That is a good point. Not to be too technical, but the way the info is being entered in the database is causing this. We will change this, and I would like to thank you for the feedback. Typically variable rate cards are tied to the prime rate, so when the prime rate changes the APR changes. It is usually in the cardholder agreement that even with a "fixed rate" card the terms can be changed. So you are really never guaranteed a low rate indefinitely.

Thanks,
Colin



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