What's the big deal with the Ring?

[chalupaman]

The community aspect of the card fascinates me the most besides the really low APR. Also since I don't really like CUs that much, this card is literally one of the best alternatives out there to what they can offer in terms of a low rate card I can have in case of emergencies or if I need to transfer a balance.]

On the flip side, I really don't like Barclays that much either but I'm realizing that their cards have different underwriting depending on which one it is, so there's a lot about them I don't get.

[Anonymous]

+1

No CU is offering 8% unsecured to sub 700 FICO.

This card does just that!

[Anonymous]

Saying you shouldn't carry a balance even at 0 percent APR is stupid. CCC's wouldn't make zero percent offers if they didn't expect you to carry a balance for some amount of time.

[Anonymous]

I SWEAR I was going to make a thread like this!

[nightglider]

I think the confusion lies in a person's financial position and therefore, his/her view on CC's for emergency puposes. Through a combination of luck and skill (I'll let others decide how much of each), I am in a financially secure position - secure enough that I can't imagine an emergency severe enough to take out my liquid assets (and honestly, I'd rather not). My use of CC's is purely for the rewards and I haven't paid interest in years. I don't even know my APR's.

I often lose sight of it, myself, but without seeing someone's financials, you cannot know if they're spending foolishly, strategically, or are simply in a tight spot.

[longtimelurker]

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@nightglider wrote:

I think the confusion lies in a person's financial position and therefore, his/her view on CC's for emergency puposes. Through a combination of luck and skill (I'll let others decide how much of each), I am in a financially secure position - secure enough that I can't imagine an emergency severe enough to take out my liquid assets (and honestly, I'd rather not). My use of CC's is purely for the rewards and I haven't paid interest in years. I don't even know my APR's.

I often lose sight of it, myself, but without seeing someone's financials, you cannot know if they're spending foolishly, strategically, or are simply in a tight spot.

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Right, and also what alternatives are availble to them.   So I have say Penfed Platinum.  This has an APR of 9.9%, but gives rewards on gas (5points), groceries (3points) and1 point on all others.   The difference between 8 and 9.9% isn't going to make a huge difference in emergencies, and I would rather have a card that earns rewards if I don't need to carry a balance.

But as Nixon said, the Ring is available to people with sub-700 scores, who Penfed might well reject.

[Anonymous]

I just bought a house, moving out of a small apartment. I had to buy a ton of furniture. Without 0 percent I'd be sitting on the floor or sleeping on the floor.

[Saleen099]

@pizza1 I can't either but I was able to stay at a Holiday Inn express. Lol

[IncrsCredScore]

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@Anonymous wrote:

why is everyone going Ring crazy? What is so great about it. I see the low(er) APR and community based benefits.. But what is it? I have to be missing something.

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Glad you asked that question, because I have wondered the same thing.

[nightglider]

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@Anonymous wrote:
I just bought a house, moving out of a small apartment. I had to buy a ton of furniture. Without 0 percent I'd be sitting on the floor or sleeping on the floor.

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I recently moved across the country. I alreay have furniture, but it got here a month and a half after I did. Inflatable mattresses are cheap, but they get old *real* quick.