Credit Card Forum & Message Board
  1.  10:54 PM #1
    Mogul of Pineapples
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    Default Fixed Interest Rates Going Bye-Bye

    It looks like fixed rates may become a thing of the past with the new credit card reforms. Bank of America is transitioning many of their cards over to variable rates and Chase has been doing the same too. Since the prime rate at an historic all-time low right now it doesn't really matter, but when it goes back up again that means the average credit card rates right now will go up to the high teens.

    The credit card reforms seem to be now hurting the people with good credit and rewarding those who use credit recklessly.
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  2.  01:18 AM #2
    1bootcamp
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    I had the prime rate plus zero on my Amex card and even that shot up through the roof to 11%. I think it's safe to say the days of cheap and easy credit are over. At least for the rest of my lifetime.
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