Usually it makes sense for borrowers to lock in fixed rates when interest rates are low, but that may not be the case with the latest crop of credit-card deals. Lenders continue to offer fixed-rate cards, but at rates significantly higher than the variable rates on comparable cards. For example, the Capital One No Hassle Miles Rewards card had been charging 11.4 percent under its variable-rate formula. But new applicants will instead find a fixed rate of 13.9 percent on the card.

A few good fixed-rate offers remain. There’s a 6.5 percent fixed-rate card from Pulaski Bank (pulaskibank.org) and a 7.25 percent card from Simmons First National Bank (simmonsfirst.com). Capital One (capitalone.com) offers a 7.9 percent fixed rate on its “prestige” card for borrowers with the best credit scores. Before signing up, check the contract to see how long the rate is guaranteed, since most issuers reserve the right to change the rate as they see fit.

A better deal might be a variable-rate card with a zero-percent one-year teaser rate. Cardholders who can burn their balances before the teaser rate is done can forget about the whole fixed-versus-variable debate and just start using a nice rewards card—as long as they restrain themselves from building a new balance.