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The gap between variable rate credit cards and fixed rate credit cards has narrowed primarily to recent fed action to lower short term interest rates which has cut the prime rate by 75 basis points this year. At the beginning of this year, the gap between the two pricing models stood at 188 basis points. Variable (go-to) rate cards have saturated the market this year, now making up 87% of all cards-in-force. Less than five years ago, the number of fixed rate cards outnumbered variable rate cards. Today, variable rate cards carry an average go-to interest rate of 16.39% versus 14.99% for the average fixed rate cards. In January, the average go-to variable interest rate was 16.59% versus 14.72% for fixed rate cards. (The averages do not include introductory or punitive interest rates.)