Credit Cards Moving To Variable Rate

Last June, a number of credit card holders from major credit card companies JP Morgan Chase & Co. and Bank of America received notifications changing their fixed rate credit cards to variable rate cards. The variable rate will be tied to the prime rate.Discover Financial also made a similar move earlier, moving some of their fixed rate credit card holders to variable rate credit cards this March. According to the spokespersons of these credit companies, the move was made primarily for these comp