What is a fixed rate credit card?

A fixed rate credit card is a type of credit card that has an interest rate that does not change. It means that even if the cardholder is late on payments, they will always have the same interest rate. This makes it easier for a cardholder to budget, and it can save them money in the long run. In Hawaii, the Credit Card Law outlines the regulations for fixed rate credit cards. This law states that the interest rate must be stated on the card’s application and that the rate cannot change unless the cardholder agrees to a new rate. The law also states that the cardholder must be informed of any changes to the terms before they are applied. When applying for a fixed rate credit card in Hawaii, it is important for the cardholder to understand the terms and regulations that come with it. This includes understanding the interest rate, annual fees, credit limit, and any other terms stated on the card’s application. This will ensure that the cardholder gets a card that best suits their needs, as well as understanding all the costs associated with the card. By understanding and following all the rules and regulations set out by the Credit Card Law in Hawaii, cardholders can ensure they get the best deal for their fixed rate credit card.

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What is a fixed rate credit card?

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