CCCS of Southwestern Virginia has more than 20 years experience with credit card debt services. Certainly everyone's financial life would be easier if they knew exactly which credit card to choose. You can contact our credit card debt services to learn more about choosing which credit card is best for you. Because everyone's needs are different, there is no one best credit card. For example, if you never carry a balance, your credit card interest rate may not matter to you as much as the annual fee. Shopping around for the credit card that best suits your needs can save you a lot of money. Consider interest rates when choosing a credit card. Learn more about interest rates from our credit card debt services.

Fixed Rate and Variable Rate Interest:

Fixed rate cards imply that you know what your interest rate will be over the life of the loan. And, that is true—to a point. A fixed rate credit card will not change based on the prime lending rate. However, even if you have a fixed rate card, the rate may not actually be fixed. Our credit card debt services have more information for you on fixed rates. Consumer Action's 2003 Credit Card Survey found that more than one-third of surveyed issuers said that they raise existing cardholders' rates because of their poor credit record with other creditors — even if the cardholder has made no late payments with the card in question. The Truth in Lending Act only requires that they give you 15-days notice.

With variable rate credit cards, the interest rate is computed by adding a set amount (called the margin) to the prime lending rate. Therefore when the Federal Reserve Board raises the prime rate, most variable-rate credit cards will move in direct response. The experts at our credit card debt services can give you more information on variable rate interest.

In fact, CCCS of Southwestern Virginia counselors, your preferred choice for credit card debt services can help consumers trim their expenses, develop a workable budget, lower their debt payments and repay debts. To visit with a trained CCCS of Southwestern Virginia counselor, call toll-free 1- 866-260-5994 - 24 hours a day, 7 days a week.