Am I better off getting a credit card with an variable APR or fixed APR???

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Typhoon

Am I better off getting a credit card with an variable APR or fixed APR???

The Fixed APR is a little higher than the variable APR.

mattinhoustontx

Either one because you shouldn't carry a balance. PAY IT OFF EVERY MONTH!!!

Pass It On...

Never go with a variable APR unless you plan on paying off the balance every month. Variable APRs will cause your minimum balance to fluctuate. With a fixed APR the percentage is constant and only based on your balance.

dougzinboston

The variable APR will follow the Fed rate which has creeped up over the last two years. If it continues to rise, the variable rate will eventually rise above the fixed rate.

Since the variable isn't that much better than the fixed, the fixed is better over the long run.

luciousgreeneyedlady

i want to know how you get a variable APR on a credit card?

whatevit

All credit cards have a variable APR. Any that say other wise are liars. Read the fine print.

M O

it depends on where you think the underlying rates (usually prime rate) is going to go. Most times a fixed rate is always better then a variable one though.

tchem75

Fixed with the lowest rate possible. Under 10 % fixed is a good rate if you are going to carry a balance.

sillyturtledad

I think that at least the fixed APR will never change. the variable may, in the future, become higher than the fixed APR, but it could keep going down too. I think it depends on if you plan to pay off the card quickly.

House Mouse

I would go with the fixed rate as the variable rate could become more than the fixed rate.

dan h

Rates are at an all-time low. There's nowhere to go, except up. Even if it is a little higher now, the fixed rate is probably the better option.
The best option is to never, ever use a credit card. If you're worried about purchasing things online or over the phone, get a checking account with a checkcard. Almost everyone accepts these nowadays. If you're worried about building your credit score, just know that the only way to keep your score high is to get in debt, and stay in debt forever. Why do you think the banks all own the tallest, nicest buildings in any given city?

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