A fixed rate credit card is a card that has an interest rate that will not increase or decrease when Federal interest rates change. This is in contrast to variable rate credit cards, which may change their interest rates in step with interest rate changes in the wider marketplace. Fixed rate does not mean that your credit card rate can never change; it simply means that it won’t change automatically when Federal interest rates go up or down. Fixed rate credit cards are appealing to people who don’t want to risk having their card’s interest rate go up after they’ve already built up a credit card balance.
There are not a lot of fixed rate credit cards on the market today, but we have compiled a good list of cards you might consider if a fixed rate is important to you:
- United Bank Visa Cards – Alabama bank offers 2 different fixed-rate credit cards, with APR as low as 9.75%.
- Greenfield Banking Company Credit Cards – Greenfield, Indiana based bank offers a number of fixed rate credit cards to local customers.
- Merchants Bank Visa Credit Cards – If you are in Minnesota, Iowa or Wisconsin, this bank offers a number of fixed rate credit cards with or without rewards that you might be interested in.
- BNA Bank Visa Credit Cards – Customers of this Mississippi bank can get a fixed rate credit card with rate as ow as 9.99%.
- Newfield National Bank Visa – Only for those in southern New Jersey — offers a 9.99% fixed rate credit card.
- Solvay Bank Fixed Rate Credit Cards – This bank offers fixed rate credit cards (as low as 9.99% rate) to its customers in the Syracuse, New York area.
- Security First Bank of North Dakota Visa Cards – Offers a fixed rate 8.9% Visa Gold card and 9.9% fixed rate Visa Rewards card, but you must be a customer of the bank in order to apply for the card. Good for North Dakotans, not so much for the rest of the country.
- Mountain Commerce Bank Visa Platinum – Knoxville / Johnson City, Tennessee bank offers fixed rate Visa credit cards as low as 9.99%.
- Western Bank of Duluth Visa – Another Minnesota bank that offers a handful of fixed rate credit cards.
- Rolfe State Bank MasterCard – Tiny bank with branches in Rolfe and Pocahontas, Iowa, offers several fixed-rate MasterCards.
- Wilson & Muir Bank & Trust – Bardstown, Kentucky bank offers cards at a fixed rate of 11.9% or 13.9% depending on the card features you choose.