Lowest CC APR available

[ficus]

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@fused wrote:

I haven't heard of any fixed rates lower than 7.99% here or on other credit forums but that doesn't mean they might not exist.

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Perhaps they do exist as card offers to long-time customers? But still, I'm sure that the times have changed as more and more people have gotten into debt over last few decades. One member on the forum mentioned once how he's gotten promotional checks at 0.99%/1.99% (for 6 months) and 2.99% (for life of balance) from Chase. Now that's some cool beans!

[Anonymous]

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@ficus wrote:

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@pjriverap wrote:
I would go for the low fixed APR card.

However, I understand your fear. I have a fixed 5.9% APR on my MBNA card, which is now a BOA card - I thought BOA would have hiked it up after the buy-out. And ever so often, I get nervous when I get mail from BOA...lol...thinking it will be a notice about a hike...but this hasn't happened in the past 3.5 years I've had the card.

Message Edited by pjriverap on 10-17-2007 06:51 PM

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5.9% is a super APR! Do you know of any company that is offering anything lower than 7.99% (fixed)? I would definitely want to take a look. By the way, how much can your card carry?

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It's a BOA Marlins Baseball Card with a 12K Limit. The funny thing about this card is that I only applied to get a free t-shirt at the game...3 weeks later I got this card with an awesome APR...random, but good.

Message Edited by pjriverap on 10-17-2007 07:53 PM

[John060675]

Just for FYI, here is a link that compares a lot of the APR %'s

http://moneycentral.msn.com/banking/services/CreditCard.asp?iSearchId=2&Go=Go

Sorry, I know we are not supposed to post links to outside websites, but I think this is a good one.

Good luck!

[ficus]

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@pjriverap wrote:

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@ficus wrote:

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@pjriverap wrote:
I would go for the low fixed APR card.

However, I understand your fear. I have a fixed 5.9% APR on my MBNA card, which is now a BOA card - I thought BOA would have hiked it up after the buy-out. And ever so often, I get nervous when I get mail from BOA...lol...thinking it will be a notice about a hike...but this hasn't happened in the past 3.5 years I've had the card.

Message Edited by pjriverap on 10-17-2007 06:51 PM

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5.9% is a super APR! Do you know of any company that is offering anything lower than 7.99% (fixed)? I would definitely want to take a look. By the way, how much can your card carry?

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It's a BOA Marlins Baseball Card with a 12K Limit. The funny thing about this card is that I only applied to get a free t-shirt at the game...3 weeks later I got this card with an awesome APR...random, but good.

Message Edited by pjriverap on 10-17-2007 07:53 PM

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Applied for a t-shirt and got a CC? That's rather bold of them, unless the t-shirt application required that you put down your date of birth and ss#, which is absolutely required when applying for credit cards. Very strange. If more strange things could be this pleasant, though.

[ficus]

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@John060675 wrote:

Just for FYI, here is a link that compares a lot of the APR %'s

http://moneycentral.msn.com/banking/services/CreditCard.asp?iSearchId=2&Go=Go

Sorry, I know we are not supposed to post links to outside websites, but I think this is a good one.

Good luck!

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Great link! Thanks. I see a Simmons First Visa Platinum at 7.25%. Very cool Credit Card Analyzer tool at that link. Lists quite a few low-APR offers.

[ficus]

Can someone tell me what a subprime lender like Cap 1 doing offering Capital One(R) Platinum Prestige at 7.40% APR? Who are they trying to get with that? I thought they specialized mainly in subprime?

[Anonymous]

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@ficus wrote:

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@pjriverap wrote:

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@ficus wrote:

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@pjriverap wrote:
I would go for the low fixed APR card.

However, I understand your fear. I have a fixed 5.9% APR on my MBNA card, which is now a BOA card - I thought BOA would have hiked it up after the buy-out. And ever so often, I get nervous when I get mail from BOA...lol...thinking it will be a notice about a hike...but this hasn't happened in the past 3.5 years I've had the card.

Message Edited by pjriverap on 10-17-2007 06:51 PM

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5.9% is a super APR! Do you know of any company that is offering anything lower than 7.99% (fixed)? I would definitely want to take a look. By the way, how much can your card carry?

---

It's a BOA Marlins Baseball Card with a 12K Limit. The funny thing about this card is that I only applied to get a free t-shirt at the game...3 weeks later I got this card with an awesome APR...random, but good.

Message Edited by pjriverap on 10-17-2007 07:53 PM

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Applied for a t-shirt and got a CC? That's rather bold of them, unless the t-shirt application required that you put down your date of birth and ss#, which is absolutely required when applying for credit cards. Very strange. If more strange things could be this pleasant, though.

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It was one of those random college offers: "Apply for an Marlins MBNA today and get a free T-Shirt even if your not approved for the card!" I was a sucker for free stuff during undergrad!

-lol

[ficus]

That Simmons card also offers an unbelievable Cash Advance APR at 12.95% Fixed. This is like twice as low as just about any card offers for cash advances. Very interesting card for emergencies. Wow! Even their Penalty Rate is lower than what some cards have as their regular variable APR: 15.25% Why is this card not talked about? This is a monster card, unless I'm not getting something.

Message Edited by ficus on 10-17-2007 08:20 PM

[Anonymous]

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@ficus wrote:

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@Anonymous wrote:

I would also go with a fixed rate. However, do keep in mind, that somewhere down the road, the issuers might change your terms, and change your fixed rate to a variable one. I've had this happen to me a few times. Some credit card issuers will also offer you variable rates, but the rates will never be permitted to be lower than a certain percentage. For example, they might offer you PRIME+1%, but stipulate that this rate can never be lower than 7.9%. In short, I find fixed rates much more attractive than variable ones.

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Change fixed to variable? So it's not just increasing the rate, they just turning the tables completely. I guess this is what they mean when they say "anytime, for any reason" on the T&C agreement. Under what circumstances did those things happen to you? Did you pull something or were all those times random occurances? Anything higher than 7.9% can easily fall under the category of "PRIME+1% but "CAN NEVER BE LOWER THAN 7.9%" depending on how they view it. :-) But I guess, nowadays, anything lower than 10% is better.

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Around 2001, First Card (who merged with BankOne, and then later merged with Chase) once changed my terms from a FIXED to a VARIABLE--I was carrying a balance, always paid more than the minimum payment, but they decided to change my terms.  First Card (and even BankOne) was always one of those card companies that you were always glad that you dealt with over the phone, rather than face-to-face, with a "blunt instrument" within your reach. 

Most recently, I was one of the victims of the massive Capital One rate hikes.  I had a 5.9% FIXED at Capital One for a few years, and they informed me that my FIXED 5.9% would be changed to a VARIABLE that was around 15.99%.  I really didn't care, because I didn't have a balance, and I already planned to close the account this December.  About a week after my rate hike notice, Capital One sent me another letter about how they've noticed that I haven't used my account in a while, and what could they do to change that.  I called the number they provided, and the rep then lowered my APR to LIBOR+something that I can't remember, so it ended up at 9.9%, but still a VARIABLE. 

[ficus]

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@Anonymous wrote:

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@ficus wrote:

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@Anonymous wrote:

I would also go with a fixed rate. However, do keep in mind, that somewhere down the road, the issuers might change your terms, and change your fixed rate to a variable one. I've had this happen to me a few times. Some credit card issuers will also offer you variable rates, but the rates will never be permitted to be lower than a certain percentage. For example, they might offer you PRIME+1%, but stipulate that this rate can never be lower than 7.9%. In short, I find fixed rates much more attractive than variable ones.

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Change fixed to variable? So it's not just increasing the rate, they just turning the tables completely. I guess this is what they mean when they say "anytime, for any reason" on the T&C agreement. Under what circumstances did those things happen to you? Did you pull something or were all those times random occurances? Anything higher than 7.9% can easily fall under the category of "PRIME+1% but "CAN NEVER BE LOWER THAN 7.9%" depending on how they view it. :-) But I guess, nowadays, anything lower than 10% is better.

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Around 2001, First Card (who merged with BankOne, and then later merged with Chase) once changed my terms from a FIXED to a VARIABLE--I was carrying a balance, always paid more than the minimum payment, but they decided to change my terms. First Card (and even BankOne) was always one of those card companies that you were always glad that you dealt with over the phone, rather than face-to-face, with a "blunt instrument" within your reach.

Most recently, I was one of the victims of the massive Capital One rate hikes. I had a 5.9% FIXED at Capital One for a few years, and they informed me that my FIXED 5.9% would be changed to a VARIABLE that was around 15.99%. I really didn't care, because I didn't have a balance, and I already planned to close the account this December. About a week after my rate hike notice, Capital One sent me another letter about how they've noticed that I haven't used my account in a while, and what could they do to change that. I called the number they provided, and the rep then lowered my APR to LIBOR+something that I can't remember, so it ended up at 9.9%, but still a VARIABLE.

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Isn't it pathetic how they first pull crap and then embarrass themselves trying to do damage control? :-)