@MarineVietVet wrote:
Hi veracious,
@Anonymous lowest APR card is a BoA @ 7.9%. I only use it to pay my XM radio bill (about $16) each month. I guess if I had to carry a balance for a few months this is the one I'd use.
I think it's interesting that there is much talk around the Forums that seems to equate carrying a balance as some sort of death sentence and/or a mortal sin.
Now while I am among those that recommend always trying to never carry a balance forward I've lived long enough to realize that in the real world things happen and our plans of never carrying a balance or paying interest goes out the window.
I take with a grain of salt anyone who says they've never carried a balance.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
Hi marine,
I also find it interesting that everyone always pays in full every month.
The reason I chose to app for a low interest card is because i didn't want to end up like my younger brother.
With the death of one of his in-laws he had the misfortune of being Johhny-on-the-Spot.
He didn't want to use his emergency fund for the benefit of the less than fortunate in-laws.
So he put a few ailine tickets on his credit card and is supposed to be repaid when the others are able.
Lucky for him he had a low interest card available. I told him not to hold his breath until he is repaid.
You never know what will happen when you get older, many of my favorite aunts and uncles are getting on in years.
At least now I'm prepared.
BTW Your FICO scores are awesome. You must be doing something right!
@scientifics wrote:This actually brings up a question for me. My lowest card is 9.24% and it is variable, yet it has been 9.24% for as long as I can remember. Does the "variable-ness" only go into effect if you carry a balance? Or does it just not change very often?
I assume each card issuer uses a different formula for calculating the variable rate but here is how Cap 1 does it:
How can my variable Annual Percentage Rate (APR) change? Your APR may increase or decrease based on one of seven standard indices reported in The Wall Street Journal. To find which index is used for your account, look for a code (P, L, C, S, D or F) on the front of this statement next to the APR(s). Then check the table below:
My code happens to be "D". Now if you understand all that please explain it to me? 
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
@veracious wrote:
@MarineVietVet wrote:
Hi veracious,
@Anonymous lowest APR card is a BoA @ 7.9%. I only use it to pay my XM radio bill (about $16) each month. I guess if I had to carry a balance for a few months this is the one I'd use.
I think it's interesting that there is much talk around the Forums that seems to equate carrying a balance as some sort of death sentence and/or a mortal sin.
Now while I am among those that recommend always trying to never carry a balance forward I've lived long enough to realize that in the real world things happen and our plans of never carrying a balance or paying interest goes out the window.
I take with a grain of salt anyone who says they've never carried a balance.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
Hi marine,
I also find it interesting that everyone always pays in full every month.
The reason I chose to app for a low interest card is because i didn't want to end up like my younger brother.
With the death of one of his in-laws he had the misfortune of being Johhny-on-the-Spot.
He didn't want to use his emergency fund for the benefit of the less than fortunate in-laws.
So he put a few ailine tickets on his credit card and is supposed to be repaid when the others are able.
Lucky for him he had a low interest card available. I told him not to hold his breath until he is repaid.
You never know what will happen when you get older, many of my favorite aunts and uncles are getting on in years.
At least now I'm prepared.
BTW Your FICO scores are awesome. You must be doing something right!
You have to remember that many people in these forums are the exception. If someone is more credit savvy, they're more likely live within their means, charge what they can pay off monthly, and find ways to make credit work for them and not against them. They also more likely to have an emergency fund. Speaking for myself, I am one of the exception. I haven't always been, but I am now. My FICO scores reflect that.
