CSP new APR range

[-Cal-]

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@Anonymous wrote:

I'm not too bright when it comes to the federal reserve and all but didn't they just raise the rate 0.25%?  My CSP is 15.99%.  16.24%-15.99% is 0.25%.

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This thread describes that the CSP has gone from a card that always issued out 1 APR across the board to a card that now issues out a range of APRs based on credit worthiness. 

[myjourney]

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@Anonymous wrote:

My newly approved United MileagePlus is at 16.24%

Oz

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Yeah all chase cards increased about 3 weeks ago due to the fed hike .025%

[Anonymous]

My new csp was at 16.24%. just to verify

[Anonymous]

Just yesterday I got a CSP offer in the mail with 19.99% APR. I thought it was odd, but now this explains it.

[longtimelurker]

I guess there was never any real upside for the issuer to offer just one rate, so maybe it's surprising it happened at all.    Sure, you can mitigate risk by giving a lower CL (or declining to give the card) but also having the APR gives a lot more flexibility, encouraging slightly higher risk borrowers to either carry less balance or pay the price.

[degs138]

I just got approved today for CSP 15k at 20.24%.  Maybe I should have apped last week when I could have got in at 16.24

[myjourney]

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@degs138 wrote:

I just got approved today for CSP 15k at 20.24%.  Maybe I should have apped last week when I could have got in at 16.24

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Just don't carry a balance and you'll be good 

Congrats and welcome to the CSP family too

[myjourney]

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@longtimelurker wrote:

I guess there was never any real upside for the issuer to offer just one rate, so maybe it's surprising it happened at all.    Sure, you can mitigate risk by giving a lower CL (or declining to give the card) but also having the APR gives a lot more flexibility, encouraging slightly higher risk borrowers to either carry less balance or pay the price.

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Which eats into the rewards/UR points handed out 

[degs138]

I never carry a balance

[CreditScholar]

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@myjourney wrote:

Not sure if it's been posted but

It's now a range 16.24-23.24

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Are you sure this is the complete range? I just checked and my CSP is showing as a 15.49% APR.