There are floating APRs. APR stands for annual percentage rate, and it must be provided when advertising for credit, as it's seen as a standardized way of looking at various interest rates. Some lenders may advertise monthly and bi-weekly costs, requiring companies to display a uniform APR in their advertising to ensure customers will have a clear picture of a credit agreement before they enter into one.

Floating APRs, commonly called variable APRs, feature floating interest rates that move up and down along with the market or index. For example, the Citi Simplicity credit card is advertised with a 12.99% to 22.99% variable APR, as of 2015. It also has an introductory rate of 0% for 10 months on purchases and balance transfers. This means that after 18 months, clients of the Citi Simplicity card with the very best credit scores will be charged an APR 12.99% and customers with the worst credit get scores will be charged an APR of 22.99%. It also means that if interest rates in credit markets increase for any reason, Citi may increase the rates it charges for all its customers. One day in the future, the 12.99% to 22.99% quoted could change to 15.99% to 25.99%, for example. When and if changes like this may happen is difficult to predict, even for experts.

Though they are few and far between, there are some fixed interest rate credit cards available, such as the Western Federal Credit Union Fixed-Rate Visa card. The card offers a fixed APR of 8.99%. This means that customers who qualify never face rate increases. All customers of the Western Federal Credit Union Fixed-Rate Visa card receive the same rate. This card also has a 4.99% introductory APR for purchases and balance transfers. The credit card market is highly competitive. Rates, as well as rewards programs, introductory incentives and other features change frequently. Staying abreast of developments in the credit card market is rewarded with significant costs savings and other benefits.

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