Fixed rate credit cards are among the most sought after credit cards available today simply because you know exactly what will be paying in interest each month. Some credit cards are tied to the prime bank rates and are somewhat like a variable rate mortgage in that the interest that you pay can fluctuate depending on the market. Although this may work well for some people, the majority prefer having a fixed rate credit card where they are assured that they will not suddenly face an unwelcome interest rate hike.

Some credit cards offer a dual interest rate to their customers. Such cards generally offer a lower APR on balance transfers and a regular rate on all other purchases. These cards can also be considered fixed rate credit cards as the interest rates they charge do not change although they do differ from balance transfers to every day purchases. Typically fixed rate credit cards are secured cards that are easily acquired so long as you have a decent credit rating.

With the ever-increasing use of credit in our society it is no wonder that credit cards are popping up all over the place. Department stores, gas stations and even airlines are now offering their own credit cards. They have understood that in order to make ends meet today, most people rely on credit. With an increase in the number of credit cards available, it was only a matter of time before the credit companies realized that in order to keep their customers they would have to start offering incentives. Hence, today we have a credit culture that favours customers and creates a win-win situation for everyone.

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