Credit Card Rates?

[InlineSIX24]

Whats your best rate and what card company? I just got a notice from Bank of America which I had a 7.9% fixed rate on an Amex that they want to raise me to around 13.5% variable by 6 points. If they don't negotiate to keep me at my current rate then it's time to jump ship I guess.

[Airreed]

11.9% APR
No yearly fee
USAA

[~Barn~]

I'm pretty sure I have a couple cards with 9.X% fixed rates. One is through my credit union, and the other is a Capital One card.

[InlineSIX24]

I called BOA earlier and the lady said they would do a bit better, but not enough, so the hunt is on.

[XJ600s]

Not to be rude, but why not just pay off the credit card bill every billing cycle and not worry about the APR? Especially with the way the economy is right now, you really don't want to be tied up in credit card debt and it will help you avoid those "unnecessary purchases".

But I've got Elevations Credit Union, with 13.99% (but its a student credit card to build credit, even though I already had perfect credit coming out of high school).

Other card is through USAA and its 5.75% APR.

I also thought you had to either be in the military or have family that was in the military to qualify for USAA...but maybe I'm mistaken.

[Dietrich_R1]

Was once stuck in the CC game so I've been through that! It was in a way that nobody would want to be in. Hell, if you are in a debt reduction program I could probably help you out!

Now, I look for the best rewards & don't worry about the interest rate. My Costco Amex does me just fine with a $400.00 kick-back the last couple years.

CC's should only be for emergency use only. Try to have 1 card w/ a good interest rate for that purpose only.

Other than that, if you can't afford to pay off the CC every month, then you can't afford it! Follow that & you're life will be much happier! It's better to live on Ramen than owe the MAN!

Of course, sometimes it's easier said than done! With perseverance, you would win!

There's a reason I still drive a manual 2001 Honda Accord, ride a 2001 R1, & just purchased a 06 KLR 650.... I hate payments! Hell, I've got full coverage on the R1 & am contemplating on dumping the extra $300.00/year for full coverage!

Even the students in the office drive nicer cars than me, but then again I don't owe $50K in loans!

Ok, I'm off the soap-box

[Airreed]

But I've got Elevations Credit Union, with 13.99% (but its a student credit card to build credit, even though I already had perfect credit coming out of high school).



Other card is through USAA and its 5.75% APR.

I also thought you had to either be in the military or have family that was in the military to qualify for USAA...but maybe I'm mistaken.


I think you mean no credit coming out of high school....

I have a platnium Master Card with USAA not sure how you got a 5.75....esp since I can't get them to match a loan i just pulled on a new truck...USAA loans are at 5.99 and I had to finance through a seperate credit union.

Yes, you need to be military or have a family member that's military to have USAA.

[GixxerCarrie]

Bellco Fixed 7.9%

[XJ600s]

I think you mean no credit coming out of high school....

I have a platnium Master Card with USAA not sure how you got a 5.75....esp since I can't get them to match a loan i just pulled on a new truck...USAA loans are at 5.99 and I had to finance through a seperate credit union.

Yes, you need to be military or have a family member that's military to have USAA.

nope, perfect credit, er, near perfect credit. I had my USAA credit card for 3 years in high school and paid it on time every time, and came close to my limit several times too.

Oh, wait, my bad....I was looking at the nominal rate on my statement. My regular APR is 7.75% per my account main page.

[Sully]

http://www.creditcards.com/matrix/low-interest.php

check out this link, it may be helpful. I have the Simmons Visa Platinum at 7.25%... I should probably use it ... lol

[Airreed]

Sully-
You could buy me a new helmet!!!!

[Sully]

ha ha... sure, just give me your Honduhhhhh :D

I won a helmet at Grand Prix last bike night ! ;)

[GixxerCarrie]

Damn! I have seen that link before...lol. Ninja'd by the Helmet winning GODDESS!
Was good to see u last night girly.

[Matt]

Credit cards are an unfortunate necessity these days. Can you rent a car without one? Doubtful.

I disagree with the idea of never using your card and keeping it for emergencies only. Some people who do that are seeing their credit limits reduced to almost nothing. Its better to have a card, use it responsibly, and pay it off every month.

We have a joint Discover card for regular household purchases (groceries and gas mostly), the cash back is a great deal. We also each have a Chase Rewards Visa because many places don't take Discover. The interest rates on all our cards is 9.9%, but they're paid off every month so who cares about the interest rate. The total cash rewards on all the cards amounts to at least $400 a year.

Ever watch Dave Ramsey on Fox Business News? If you have debt, its probably worth watching him. He preaches the way my wife and I have been living for years. Your ultimate goal should be to build wealth. You do that by spending less than you make, eliminating debt, and building savings/investments.

OK (as Dietrich_R1 said), I'm off the soap box now.

[SupermotoMJ]

6.5% Gold mastercard with 5g limit from spaceage credit union.
in 3 months i'm going to aply for the platinum which is 3%
I have my motorcycle laon through them and that is locked in at 4.2%

[rforsythe]

Credit card companies are getting off on jacking up peoples' rates right now in an effort to squeeze more money out of the people still paying their bills, to make up for the millions who have said "FU" and stopped all that.

If you are carrying a balance right now you are in effect subsidizing the abandoned debt of a lot of people. Pay that shit off and keep it paid off! Using the card is fine, just make sure it's something you pay off each month before they can add anything to the balance, and be sure that if you got laid off tomorrow you would be able to clear that balance. Trust me on this, there is nothing worse than losing your job while carrying a card balance you can't dump, and watching the interest and penalties grow; when you can actually pay it off again you won't like it.

[modette99]

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[modette99]

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[Devaclis]

I don't use credit cards anymore. I have a horrible spending problem with credit so I just pay cash/use debit card for everything.

If I don't have the money for it, I don't buy it.

[InlineSIX24]

I do typically pay my card off each month and usually use debit or cash but have wanted to have at least one around for things like what Matt mentioned. Also is it not true that allowing a balance to transition from one month to the next and then paying on time builds credit? I was under the impression that it did as opposed to just paying in full in one given month. Bellco and Spaceage sound like good options as I have dealt with both of them.

[asp_125]

On the news this morning they were saying how CC companies are unilaterally lowering the credit limit on people, so they can tack on additional fees and penalties when people bump up against or exceed their limit. Plus having the negative effect of lowering these people's credit ratings. Credit card companies are the devil. :321:

[salsashark]

I have no idea what the interest rates are on my CCs...

After going through the same thing as others have posted above (huge debt, no job, etc...), I don't use them anymore. Well, it's not that I don't use them, but I won't carry a balance. On the upside, I used my Frontier CC to pay tuition, got several free tickets...

I learned the hard way that it's not about what you can buy, it's about what you can pay for.

[~Barn~]

+:yes: to whomever mentioned Discover Card's cashback policy. It is without a doubt, better than using "cash funds" to by day-to-day things like gasoline and household stuff. :up:

[rforsythe]

If I don't have the money for it, I don't buy it.

That is a lesson a lot of people are learning the hard way right now. I think if everyone understood that, the economy would not be fucked the fuck up at the moment. Unfortunately many, many people didn't have the money but bought it anyway, and now we're all paying for it.