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Originally Posted by aswo
There are no such things as fixed rated with credit cards, and the dishonest thing about it is the credit card companies will advertise that they are fixed
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It works the other way too. I had a 0% rate on a card, and then used it for a recurring monthly $7.95 purchase.
Then I noticed a $.50 charge each month, even though I was paying a lot more than the minimum monthly payment. It's because of their little kicker that payments are applied to "old debt" first, then "new debt."
So I paid it off, and called to cancel the card. That got me turned over to two different people, both of whom offered me their "such a deal" interest rate if I wouldn't cancel the card.
So if you're in a position to cancel a card, you might try that. They can adjust your rate to whatever they want, both higher AND lower.