 TITLE: How to Compare Credit Card Interest Rates CONTENT: Variable Rates\n--------------\nYears ago, credit card issuers marketed products with so-called fixed rates. However, card issuers were able to increase these rates at their discretion, which was seen as deceptive. The Credit CARD Act of 2009 now prohibits card issuers from raising rates on cards that promised a fixed rate. As a result, nearly all banks and credit unions now offer rates that are called variable interest rates, rather than fixed. These rates can rise and fall with the prime rate, which is based on the federal funds rate set by the Federal Reserve Bank. This means that the interest rates for nearly all credit cards can potentially rise or fall together, based on monetary policy changes. Fortunately, these changes are usually just a quarter of a percentage point each. END