Credit Cards Center Credit cards from our partners
Reply
Epic Contributor
Posts: 28,346
Registered: ‎10-23-2007
0

Interest Rate Based on States?

I don't usually pay much attention outside the one that is at the top of application that includes the rates related to me...

But just scrolling through looking for 0% terms I see the rates based on state and scroll down and "MOUTH DROP!" 5% for AR???

I think I need to go rent an apartment in AR!!

 

Does this apply for all cards or is this some sort of bonus because the founder of Kay lives in AR or something?  The Credit Card is underwritten by Kay Company itself.

I may have left the garden 06/20/2016 Smiley Tongue
Partner Joined Garden 04/11/2016
Moderator Emeritus
Posts: 14,647
Registered: ‎12-30-2011
0

Re: Interest Rate Based on States?

[ Edited ]

A non-trivial amount of banking regulations is determined by state, especially usury laws which this may or may not have fallen into, or something similar.

 

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 693, EQ 8 714, TU 8 710, EX 8 724 (05/27/16)
Goal Score: 700 on EQ 04 (01/01/17)


Take the myFICO Fitness Challenge
Highlighted
Valued Member
Posts: 45
Registered: ‎05-18-2011
0

Re: Interest Rate Based on States?

I think it is just this one card, as I live in AR. None of the interest rates on my CC are anywhere near 5%.

Personally, you're not missing much by not living here. It's Arkansas, but that's just me.

Starting Score: 10-2011 TU-08 FICO 725 (Walmart) / EQ FICO 683 (MyFICO)
Current Score: 10-2015 TU 780 / EQ 802 / EX 784 [Mortgage app]

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.