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credit cards faq/glossary
The most common questions asked about Credits Cards.
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Credit Card Glossary
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F
 
Fixed Rate (Fixed APR)
definition
What does Fixed Rate (Fixed APR) mean?

When you take out a loan that as a fixed rate, that means for the whole term of the loan you will pay the same amount for interest payments. A fixed rate is not subject to the market fluctuations, as compared to the variable interest rate which is. Also, a loan with an introductory annual percentage rate scheme, supposes that you will pay back a lower amount only for the first part of the term (say first 6 months, or 5 years), period after which these payments will increase.
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