Lowest Fixed Rate CC Currently Available

VanderSnoot · ‎02-09-2022

I had a great conversation last week with someone about her 5.99% fixed rate BofA credit card that she's had since 1984. Even the folks at the Federal Credit Union were stunned. That got me thinking about today's market, where it's a challenge even to find a fixed rate credit card, let alone a card with a fixed rate below 8% (or even 10%!). The only one that comes to mind is a former FOTM: AOD Signature Visa, with a fixed rate between 7.49 - 17.99%. What other low, fixed rate cards are currently taking applications?

dragontears · ‎02-09-2022

@VanderSnoot wrote:
I had a great conversation last week with someone about her 5.99% fixed rate BofA credit card that she's had since 1984. Even the folks at the Federal Credit Union were stunned. That got me thinking about today's market, where it's a challenge even to find a fixed rate credit card, let alone a card with a fixed rate below 8% (or even 10%!). The only one that comes to mind is a former FOTM: AOD Signature Visa, with a fixed rate between 7.49 - 17.99%. What other low, fixed rate cards are currently taking applications?

Paging @galahad15

Anonymalous · ‎02-09-2022

Dow Chemical Employee CU has a 6.9% fixed rate card, but it's hard to come up with other examples. There are a handful of credit unions with cards in the 3.X% range (Space Age, for example), but they're all variable based on the prime rate.

CH-7-Mission-Accomplished · ‎02-09-2022

@VanderSnoot wrote:
I had a great conversation last week with someone about her 5.99% fixed rate BofA credit card that she's had since 1984. Even the folks at the Federal Credit Union were stunned. That got me thinking about today's market, where it's a challenge even to find a fixed rate credit card, let alone a card with a fixed rate below 8% (or even 10%!). The only one that comes to mind is a former FOTM: AOD Signature Visa, with a fixed rate between 7.49 - 17.99%. What other low, fixed rate cards are currently taking applications?

My Navy classic @ $50K is at 5.99%. No lenders would ever saddle themselves with a fixed rate card they couldn't adjust when their cost of funds goes up. Everything is fixed until it isn't.

VanderSnoot · ‎02-09-2022

@CH-7-Mission-Accomplished wrote:
My Navy classic @ $50K is at 5.99%. No lenders would ever saddle themselves with a fixed rate card they couldn't adjust when their cost of funds goes up. Everything is fixed until it isn't.

Unfortunately, the only card Navy has now with a 5.99% rate is the Platinum, but it's variable, not fixed. They were the first place I looked for a fixed rate card, but even they don't have one on the market.

simplynoir · ‎02-09-2022

Here's a post @galahad15 had several months ago posting the best variable/fixed APR cards that he was aware of

https://ficoforums.myfico.com/t5/Credit-Cards/Simmons-Bank-Visa-or-regular-low-interest-cards/m-p/64...

Mero_mero · ‎02-09-2022

Wells Fargo used to offer a "prime rate" Visa that I picked up in 2008, I think. It's locked at prime rate. I did a product change to Active Cash about a year ago and kept the locked prime rate APR. It's currently 3.25% variable. Though it's variable like prime rate, I can't recall the last time it was above 5%.

Drifter73 · ‎02-09-2022

GEO specific - MCCU (Members Choice Credit Union) = as low as 6.75%apr for residential and commercial addresses within the West Houston, Katy, and Cy-Fair areas of SouthEast Texas.

Curious_George2 · ‎02-09-2022

@Anonymalous wrote:
Dow Chemical Employee CU has a 6.9% fixed rate card, but it's hard to come up with other examples. There are a handful of credit unions with cards in the 3.X% range (Space Age, for example), but they're all variable based on the prime rate.

+1

They're based in Michigan, but not geofenced. I joined from far away with a small ($25?) donation to the local art museum.

galahad15 · ‎02-09-2022

Sorry for taking so long to write and get back to everyone (super-busy atm on critical-priority and time-sensitive projects at the office lately, so unfortunately have not had as much time to spend on forums currently as I would ideally like, etc.).

Many thanks @simplynoir for very kindly and helpfully providing a link to the list of the low-rate cards that I was able to find! Would recommend to the OP if s/he could please review that link, as it has a list of some of the lowest-APR cards that I learned about or came across, and some of which I also have in my own personal card collection.