Fixed Rate Credit Cards
It seems that interest free balance transfer cards will always be one of the most popular features of a card. Even accounting for the balance transfer fee, the 0% deals still offer a way to save money on a debt.
The problem that many people are finding though is that it's getting harder and harder to get a new 0% card. The economy, as we all know, isn't in great shape and many card issuers have raised the bar when it comes to approvals. Also, the rash of bank mergers have meant that there are now fewer lenders out there, and 0% balance transfers within the same bank aren't usually allowed.
Because of this, a new kind of card is gaining in popularity: the fixed or flat rate card.
One Low Rate
These cards offer a simple proposition: whether you use your card for purchases or balance transfers, you'll pay the same rate of interest - and in most cases this rate will be very attractive compared to the standard rates of other credit cards offering cheaper balance transfers.
A fixed rate card is good for those who only have a small or medium balance on their cards and use their card for day to day purchases paying off most of what they spend.
While you may be able to get a card with a much better transfer deal, or maybe a lower standard rate, it's rare to see a single card offering exceptional deals in both areas, in if one exists, you can be sure that only the super-prime applicants will be approved.
Fixed rate cards offer a good if not outstanding deal in both areas, and with the rate fixed you know where you stand in these uncertain times.
Site is for information only and does not constitute financial advice. E&OE.
