Beware Of The Fixed-Rate Fix

Usually it makes sense for borrowers to lock in fixed rates when interest rates are low, but that may not be the case with the latest crop of credit-card deals. Lenders continue to offer fixed-rate cards, but at rates significantly higher than the variable rates on comparable cards. For example, the Capital One No Hassle Miles Rewards card had been charging 11.4 percent under its variable-rate formula. But new applicants will instead find a fixed rate of 13.9 percent on the card.

A few good fixed-rate offers remain. There’s a 6.5 percent fixed-rate card from Pulaski Bank (pulaskibank.org) and a 7.25 percent card from Simmons First National Bank (simmonsfirst.com). Capital One (capitalone.com) ...