Gold Card Canada : Choosing A Credit Card With Fixed Apr

There are various kinds of credit cards available for customers that it can be really difficult to work out which is the best

. However, the fixed rate credit card is one kind of card that is quite popular. With all the benefits of a normal card, a fixed rate credit card provides you the peace of mind that your APR will remain the same for a given time.

A fixed rate credit card is a card which has an annual percentage rate that will remain the same for a certain period of time "" mostly 3 to 5 years. This means that during the period, you will pay a fixed interest. Having a fixed rate card is great if you have a stable job with a fixed income and you can"t afford your repayments to rise. This lets you know how much you will actually pay every month, which will let you effectively budget your resources.

The Capital One Gold MasterCard only gives you a low long-term rate of 11.9% on balance transfers and purchases guaranteed for three years, as long as you pay your bills on time. After that, the low variable rate of Prime +9.9% on purchases with annual interest rate of 19.8% for cash advances can be enjoyed.

Annual fees also play a big role in owning a credit card. Balance transfer fees, cash advance fees, balance transfer fees and penalty fees are just some of the annual fees that are being charged to credit card owners. If summed, these fees can stack up to be a huge amount.

A 0% APR credit cards on the other hand are designed to help consumers lessen their debts. However, to prevent the dangers linked with these cards, you must have self-control, which is highly risky. You have to keep in mind that 0% only applies to the balance transfer. So if you were to go on a shopping spree or a vacation with your credit card, you still have to pay the interest on the additional charges. In addition, the zero APR only lasts for a short period of time. No matter how good the offer may be, it will end sooner or later.

Choosing a credit card with a fixed annual percentage rate over a zero percent credit card has its perks. And Capital One Gold MasterCard has the best fixed low interest rate in the market.

by: Richellem

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