Reply
Valued Contributor
smc733
Posts: 1,262
Registered: ‎05-13-2010
0

ARE YOU KIDDING ME CHASE

22.9% APR on my new Freedom card?  Bye-bye, sockdrawer bound this card is...

 

Citi it is for my primary, Discover as a backup, until my 4506 clears and hopefully my Zync comes in, then Discover will join BofA and Chase in the sockdrawer.

Frequent Contributor
OnTheRebound
Posts: 447
Registered: ‎08-05-2009
0

Re: ARE YOU KIDDING ME CHASE

Hey, don't feel bad. My wife's Freedom is 29.24%.  As long as we pay in full, who cares? I'm just curious where it would go if I happen to be late one time. I'm not planning to test it though.

Mine- Citi Diamond Preferred WMC $12K / Citi Double Cash WMC $3.8K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / DW's- I'm AU on most- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / Citi Simplicity MC $4.4K / GE Lowes $10K / GE CareCredit $5K
myFico Scores as of 10/03/2014
Equifax 798 / Experian 811 / TransUnion 814
Valued Contributor
smc733
Posts: 1,262
Registered: ‎05-13-2010
0

Re: ARE YOU KIDDING ME CHASE

 


OnTheRebound wrote:

Hey, don't feel bad. My wife's Freedom is 29.24%.  As long as we pay in full, who cares? I'm just curious where it would go if I happen to be late one time. I'm not planning to test it though.


I know, but it bothers me to know I'm being offered pitiful terms.

 

Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: ARE YOU KIDDING ME CHASE

 


smc733 wrote:

22.9% APR on my new Freedom card?  Bye-bye, sockdrawer bound this card is...

 

Citi it is for my primary, Discover as a backup, until my 4506 clears and hopefully my Zync comes in, then Discover will join BofA and Chase in the sockdrawer.


 

What matters more to you, the rewards or the APR? I'm assuming that you got the card for the rewards. Rewards cards always have higher APR's --it's how they pay for the rewards.

 

I've made a ton of cashback money on this thing, especially with the 5% on groceries that applied over the last 6 months. I don't know about you, but I don't let pride get in the way of a good deal. :smileywink:

 

I just checked my account, and my APR is 19.24%. It used to be 20-something. If I ever need to carry a balance, I just won't do it on a rewards card. * shrugs *

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
fused
Posts: 16,378
Registered: ‎03-12-2007
0

Re: ARE YOU KIDDING ME CHASE

 


haulingthescoreup wrote:

 

I just checked my account, and my APR is 19.24%. It used to be 20-something. If I ever need to carry a balance, I just won't do it on a rewards card. * shrugs *


Exactly, make the card work for you!!!!!! I do understand the OP's displeasure, tho.:smileyhappy:

 

Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Established Contributor
andre181
Posts: 627
Registered: ‎07-29-2010
0

Re: ARE YOU KIDDING ME CHASE

I know how you feel. Mine is 24.24%!

 

It get one small purchase every 3-4 months and back in the SD it goes.

Discover IT $25K | FNBO Visa $22K | Citi Forward $14.5K | US Bank Cash+ Visa Sig $15K | Priceline/Barclays $10K | Chase Freedom $10.5K | Amazon/Chase Visa Sig $8.3k | Citi Double Cash $6.5K | BoA Cash Rewards 1-2-3 Sig $7.5K | Sallie Mae World MC/Barclays $5K | Capital One Cash Rewards $5K | Commerce Bank $5K | WF Cash Back Visa $3.6K | Amazon/GEMB $2.5K | Younkers/Comenity $2.4K | AMEX BCE $2K Target $1K | AMEX Green
EX FICO (from AMEX): 754, TU08 FICO (from Discover): 755, AAoA: 3.6 years
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
0

Re: ARE YOU KIDDING ME CHASE

 


fused wrote:

haulingthescoreup wrote:

 

I just checked my account, and my APR is 19.24%. It used to be 20-something. If I ever need to carry a balance, I just won't do it on a rewards card. * shrugs *


Exactly, make the card work for you!!!!!! I do understand the OP's displeasure, tho.:smileyhappy:


 

Oh, sure, I do too.

 

My belief is that lenders are looking for suckers that will start carrying balances and pay those nice fat APR's. I just figure that they don't know me very well. :smileywink:

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
fused
Posts: 16,378
Registered: ‎03-12-2007
0

Re: ARE YOU KIDDING ME CHASE

 


haulingthescoreup wrote:

 

Oh, sure, I do too.

 

My belief is that lenders are looking for suckers that will start carrying balances and pay those nice fat APR's. I just figure that they don't know me very well. :smileywink:


Ok, don't get me started on how much I despise banks.:smileyvery-happy:

 

Credit Profile -
FICO 08 Scores (09-16-2014): EQ 824, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1 (Amex 07-15-2014)

Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011
0

Re: ARE YOU KIDDING ME CHASE

 


smc733 wrote:

22.9% APR on my new Freedom card?  Bye-bye, sockdrawer bound this card is...

 

Citi it is for my primary, Discover as a backup, until my 4506 clears and hopefully my Zync comes in, then Discover will join BofA and Chase in the sockdrawer.


I am sorry if I sound like playing Devil's Advocate yet again, but I am curious about your credit. I am not saying you have anything wrong with your credit, I am only trying to understand more as I have seen you having trouble with zync approval and now chase gave you terrible terms. If you don't mind, can you please share more about your credit?

 

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)
Regular Contributor
shadow2k
Posts: 108
Registered: ‎01-04-2008
0

e doing Re: ARE YOU KIDDING ME CHASE

What do you actually want from a new card?  Low APR?  High CL?  Higher overall CL across all cards?  Better rewards?  Figure out your goals, and apply for what you actually want.  Save yourself the disappointment.

 

You've basically got four 1% cards, at least two of which (not sure about Citi) have 5% rotating categories that are the same as each other anyway.  And the Amazon.  So unless you're only goal is to add more cards, then you need to sit down and figure out what would actually make sense for you to add to your collection which won't end up in a sock drawer.

 

I'll give you an example, because I think many people do the same thing.  I basically had the same cards as you last year, give or take.  So when i added two cards last August, they were specifically NPSL cards, so I'd have "hidden" limits.  Last week I added a Penfed Cash Back for the 5% gas, as I only have the Discover/Chase/Citi with rotating 5% gas in the summer, but the same period for all three.  Worthless!  I added Navy Platinum non rewards because if I ever need to carry a balance, I now have a 7.74% APR card to do it on, and it has no BT fees.  I plan on adding a PSECU card just for the 9.99% cash advances.  Never taken one out before, but you never know. 

 

Think about what you're applying for.  Chase Freedom offers you nothing in terms of different rewards vs what you already have.  I can only guess that you're just adding cards to add them...and there's nothing wrong with that.  But most of them will end up in the sock drawer that way.  Why not add PSECU?  You're already a member judging by your EX FICO, so...they give high CL's, and low APR's.  There ya go.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}