The use of credit cards is often referred to as a necessary evil because although it makes life easier for a lot of people, there are also negative ramifications especially when misused which happens a lot in a society that is very fond of the culture of rampant consumerism.

If you are one of those who have been burned by credit card companies and thinking of getting new set of plastic money called fixed rate credit cards, you have to first understand what they really entail and what you can expect.

One of the most essential selling points of credit companies that are offering you their services in the form of borrowed purchasing power is the low interest or even zero interest rate as introductory deals.

If you have had a bad experience with the use of these so called zero percent cards, you might think that you are better off with fixed rate credit cards because you can at least expect the same amount of interest that you need to pay every month.

However, before you leap for joy and jump the gun too fast, you should know about the unlimited power of banks these days.

Fixed rate credit cards cannot be expected to stay within the "fixed introductory rate" which was what you signed up for originally. In circumstances where you have missed a mortgage payment or car payment, the banks can change the terms and rates of the card that you have signed up for in light of the fact that you have become a high risk borrower.

This is something that you cannot control and even if you take the case to customer care, chances are you will still end up paying or canceling the card.

Make sure that before you sign up for anything, you have read and fully understood the fine print in the credit card agreement so that you will not be shocked to find that the APR or annual percentage rate of your beloved holographic ego has leapt from zero to ten percent in a matter of months without due notice or even so much as an explanation.

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