Amex Revolving Credit Cap

[Kenny]

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@MrCollector wrote:

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@nyancat wrote:

I guess I don't understand why anyone cares about APR on cards like these? Other than 0% offers, these are all TERRIBLE cards to actually borrow money on. I couldn't care less if the APR was 400%, I'd never dream of paying it either way.

I don't borrow money on cards, but if you feel you need to, get something like a Barclaycard Ring!

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Just because you can afford to PIF every month doesn't mean everyone can. If that were the case, there would only be charge cards.

And everyone doesn't want to deal with Barclays!

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And while I appreciate the comment, for me it's not about carrying the balance but just a general continuation of trying to have the best line up I can possibly have. I'd like to see how low I can get my APRs, how high I can get my CLs, and how high I can get the score. Etc, etc. 

Tried back again, and asked about my BCE.. brought it down from 13 to 10. Will try again in november to see how low I can go then.

[longtimelurker]

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@MrCollector wrote:

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@nyancat wrote:

I guess I don't understand why anyone cares about APR on cards like these? Other than 0% offers, these are all TERRIBLE cards to actually borrow money on. I couldn't care less if the APR was 400%, I'd never dream of paying it either way.

I don't borrow money on cards, but if you feel you need to, get something like a Barclaycard Ring!

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Just because you can afford to PIF every month doesn't mean everyone can. If that were the case, there would only be charge cards.

And everyone doesn't want to deal with Barclays!

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That wasn't quite what nyancat said.  The point is that (good) reward cards usually have APRs that are higher than other cards.   So if carrying a balance is going to be frequent (rather than just a possibility in an emergency) it MAY make sense to use other cards, as the higher APR will cost more than the rewards gained.

[nyancat]

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@longtimelurker wrote:

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That wasn't quite what nyancat said.  The point is that (good) reward cards usually have APRs that are higher than other cards.   So if carrying a balance is going to be frequent (rather than just a possibility in an emergency) it MAY make sense to use other cards, as the higher APR will cost more than the rewards gained.

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EXACTLY THIS - the rewards are far outweighed by the higher APR of good rewards cards. E.g. the best Delta Gold rate is 15.24% (I got 19.24%). Barclaycard Ring is 8% for everyone. If you're going to carry the balance, that FAR outweights the Delta miles.

[Kenny]

If I'm going to carry a balance it's going to be on a 0% promo rate. Ring or not. :-/

[longtimelurker]

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@KennyRS wrote:
If I'm going to carry a balance it's going to be on a 0% promo rate. Ring or not. :-/

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MrCollecter's comment was that not everyone has that choice

[nyancat]

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@KennyRS wrote:
If I'm going to carry a balance it's going to be on a 0% promo rate. Ring or not. :-/

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Agreed, but a lot of times people whose financial situation make them feel a need to borrow don't qualify for those offers.