Hi! Long time lurker.
I thought I would post this interesting CC I just got from Cap 1, since I can't seem to find it anywhere on the internet...
$3k limit, cash rewards, no annual fee, 22.99% APR. Just confirmed with an account specialist through chat that all of that (promised in a mailed prescreen) was still true even though the card I just received says "platinum" not "cash rewards."
@Gollum wrote:
@darkpearl wrote:Hi! Long time lurker.
I thought I would post this interesting CC I just got from Cap 1, since I can't seem to find it anywhere on the internet...
$3k limit, cash rewards, no annual fee, 22.99% APR. Just confirmed with an account specialist through chat that all of that (promised in a mailed prescreen) was still true even though the card I just received says "platinum" not "cash rewards."
Capital One has a confusing mess of credit cards with similar names, and there does not seem to be any logical system regarding the names of the cards. For example: Capital One Visa Platinum cards were offered as prime and subprime cards at different times.
I hope you do get the terms you posted, but I think the only thing that you can really believe is what is listed on your (future) monthly statements.
You might get more-reliable information regarding the terms by speaking via phone with a customer service representative during U.S.A. normal business hours.
+1
With the terms you've got at a CL, no AF, and well junk interest would certainly put in their more prime class and certainly not in their never grow subprime cards. Other than the interest rate I'd keep rolling with it.
@boomhower wrote:With the terms you've got at a CL, no AF, and well junk interest would certainly put in their more prime class and certainly not in their never grow subprime cards. Other than the interest rate I'd keep rolling with it.
Maybe in a year you could get them to lower it some!
It's 0% until December, but I PIF every month so the high APR doesn't bother me.
@darkpearl wrote:It's 0% until December, but I PIF every month so the high APR doesn't bother me.
Most of my cards are high APR but thats exactly how i feel about them. PIF = APR non-issue.
@Gollum wrote:
@darkpearl wrote:It's 0% until December, but I PIF every month so the high APR doesn't bother me.
Here's a link to a blog post (June 15, 2011) in which the author argues against high APR reward cards that are PIF every month:
http://livingstingy.blogspot.com/2011/06/simmons-first.html
The card featured in the blog post requires excellent credit, but his advice is applicable to all of us.
Instead of updating the body of his blog post, apparently the author chose to do so in the third comment (March 14, 2012) on the blog page. It has some numbers that should surprise some readers:
Capital One: 6.5% fixed until 2014
Simmons First: 7.15% variable.
That is interesting!