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Administrator Emeritus
Posts: 4,444
Registered: ‎03-01-2007
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Have you used variable interest rate credit cards?

Have you used variable interest rate credit cards? Was your experience good or bad?

 

Creditcards.com is working on a story detailing experiences consumers have had when using variable interest rate credit cards.

 

If you’d like to speak with Creditcards.com, please feel free to reach out to reporter Cynthia Drake at cynthia@cynthiadrake.com by Thursday, April 14, 2011.

 

Thanks!

 

-Barry

Formerly consumer affairs manager, media spokesman and myFICO Forums community manager at FICO, I'm now freelance writing for CreditCards.com and my own site, SpeakingOfCredit.com.

Established Contributor
Posts: 736
Registered: ‎07-07-2010
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Re: Have you used variable interest rate credit cards?

My experience is I haven't really noticed them change all the time. Yet again I dont like paying interest. Furthermore, I do have a fixed rate credit card that I am starting to use more just incase I did have to revolve.

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
New Contributor
Posts: 163
Registered: ‎03-04-2010
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Re: Have you used variable interest rate credit cards?

What exactly is a variable interest rate? When the rate changes slightly each month? My Capital One Platinum Prestige card is like that. Last month was it's 7.91% and this month 7.67%. It never goes above 8% and I love the rate.

TU FICO - 752 (8/12/11)
EX PLUS - 721 (8/9/11)
EQ FICO - 648 (2010)

(21 years old)
New Member
Posts: 2
Registered: ‎04-15-2011
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Re: Have you used variable interest rate credit cards?

Thanks, Barry!

 

If you replied to this thread, I sent you a PM. Anyone else who has experience with a variable rate card is encouraged to send me an e-mail at cynthia@cynthiadrake.com ASAP.

 

Thanks!

 

Cynthia

Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
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Re: Have you used variable interest rate credit cards?

After reviewing my EQ credit report, my Kroger 123 cards is notated as being a variable interest rate card.  

Regular Contributor
Posts: 115
Registered: ‎10-09-2010
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Re: Have you used variable interest rate credit cards?

Majority of credit cards are variable interest rate they are all based on prime rate (3.35) or Libor rate (don't know what it is now) unles you get on the card agreement that it will be fixed. Sometimes they have promotional rates that they can give out and those are fixed. There still some credit card companies offering fixed rates out there.

New Member
Posts: 2
Registered: ‎04-15-2011
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Re: Have you used variable interest rate credit cards?

Still looking for people who can explain their personal experience with their variable interest rate card ... for example, if you experienced a rate hike. Please e-mail me TODAY at cynthia@cynthiadrake.com

 

Thanks so much!

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