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Variable APR, or fixed rate, which is better to have?


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No universal answer, I'm afraid.

Variable is best when whatever prime rate its tied to is falling...fixed rate is best when prime rates are going up.

Just start out beleiving that neither is actually GOOD for the consumer, and pick the one with the "kittens" on the front.

(Honestly, I'm guessing a fixed rate under 10% with no "universal default" clause and no rate jacking for lates or overlimits would be the best. You're unlikely to find that.)

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If you don't carry balances, then it doesn't matter. The rate could be 80%, but your personal monthly rate would be 0%.

So don't lose any sleep over it.

I was going to say that...At this point I don't care what my APR's are on my cards because I PIF every single month. PIF'ing = no interest for me!

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I'd choose the one with no annual fee, which limits the APR choices, but unless you carry a balance, that's the best option. As for the variable vs fixed, it depends on how long you're going to carry a balance if you do - variable rate is lower right now, but could be higher in a year.

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