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Variable rate on my Chase Freedom card is now 3.74%!

Moderator Emeritus

Variable rate on my Chase Freedom card is now 3.74%!

I have a Variable Prime Rate+0.49% APR on one of my Chase Freedom cards.  Today I logged into my account, and saw this:

 

 

 

 

 

 

 

I keep wondering if Chase will eventually ratejack me. 

 

Message Edited by psychic on 12-19-2008 12:00 PM
EQ 814 / TU 815 / EX 842
Message 1 of 8
7 REPLIES
Senior Contributor

Re: Variable rate on my Chase Freedom card is now 3.74%!

prime rate: 

this year:  3.25

last year:  7.25

 

i wish someone who had that rate could benefit from it, but ya'll always seem to pif Smiley Happy

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 2 of 8
Moderator Emeritus

Re: Variable rate on my Chase Freedom card is now 3.74%!


score_building wrote:

prime rate: 

this year:  3.25

last year:  7.25

 

i wish someone who had that rate could benefit from it, but ya'll always seem to pif Smiley Happy


 

I probably wouldn't have that rate if I didn't PIF!
EQ 814 / TU 815 / EX 842
Message 3 of 8
Senior Contributor

Re: Variable rate on my Chase Freedom card is now 3.74%!


psychic wrote:

score_building wrote:

prime rate: 

this year:  3.25

last year:  7.25

 

i wish someone who had that rate could benefit from it, but ya'll always seem to pif Smiley Happy


 

I probably wouldn't have that rate if I didn't PIF!

 

Exactly.  more or less just for show, a token of their gratitude for your reliability as a card holder, but how else can they try to woo you into carrying Smiley Happy
DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 4 of 8
Senior Contributor

Re: Variable rate on my Chase Freedom card is now 3.74%!

Mine dropped to 10.24%. I wish it was as low as yours.
Here we go again...
Message 5 of 8
Regular Contributor

Re: Variable rate on my Chase Freedom card is now 3.74%!


psychic wrote:

score_building wrote:

prime rate: 

this year:  3.25

last year:  7.25

 

i wish someone who had that rate could benefit from it, but ya'll always seem to pif Smiley Happy


 

I probably wouldn't have that rate if I didn't PIF!

 

Exactly my point too, since I PIF every month.  Last week I just got approved for a new Chase Freedom card with an introductory 0% APR on new purchases for the first year.  I'll still PIF every month to make sure my utilization % doesn't go up. 

 

If I wasn't planning on purchasing a new home in 2 years, I'd take the hit on my 815 FICO and just charge up the entire $8,500 initial credit limit they started me off with & PIF online one week before the introductory 0% year ended.  But then again, I'd also run the risk of AMEX and Citi lowering my $30k and $25k limits due to higher utilization and failure to PIF every month. 

 

It's not worth it. I'd rather PIF every month and then call them back 6 months later and ask for them to increase my credit limit to match my other 2 cards, which shouldn't be an issue given my high credit score, income, and by then history of PIF with them every month.

Message 6 of 8
Frequent Contributor

Re: Variable rate on my Chase Freedom card is now 3.74%!

Wow...That's just great, congratulations.

 

When I opened my Freedom card the rate was Prime plus 3.99% currently 7.99%.

 

Hope I receive an APR reduction on purchases next billing period.

Message 7 of 8
Highlighted
Moderator Emeritus

Re: Variable rate on my Chase Freedom card is now 3.74%!


Cleanmachine wrote:

Wow...That's just great, congratulations.

 

When I opened my Freedom card the rate was Prime plus 3.99% currently 7.99%.

 

Hope I receive an APR reduction on purchases next billing period.


 

Thank you, Cleanmachine!

 

This account was opened in March, 1986.  I'm certain that the long account history was a plus when Chase offered me this APR. 

 

Given the Prime is now 3.25, your purchase rate will be 7.24%.   That's nothing to complain about!

 

 

EQ 814 / TU 815 / EX 842
Message 8 of 8