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back in may my apr went from 15.55% not good but alot better then it is now up to 22.9%
no late fees on the account at all just called em and asked if they could lower this back down they said it was raised bc of the finacial crissis
the account doesnt have much on it 230 or so dollars but dont have the spare money at the time to pif it but was considering a balance transfer to a lower rate card or a new card with 0% on balance transfer
i plan on paying this card down over the next few months
@Sidewayzracer wrote:back in may my apr went from 15.55% not good but alot better then it is now up to 22.9%
no late fees on the account at all just called em and asked if they could lower this back down they said it was raised bc of the finacial crissis
the account doesnt have much on it 230 or so dollars but dont have the spare money at the time to pif it but was considering a balance transfer to a lower rate card or a new card with 0% on balance transfer
i plan on paying this card down over the next few months
Nothing to be upset about. This is currently the industry norm, no matter who the provider is. Just don't carry a balance and PIF every month and you'll be ok.
+1 - agree...
As long as you pay in full the apr shudnt matter - within the grace period
Sidewayzracer wrote:
back in may my apr went from 15.55% not good but alot better then it is now up to 22.9%
no late fees on the account at all just called em and asked if they could lower this back down they said it was raised bc of the finacial crissis
the account doesnt have much on it 230 or so dollars but dont have the spare money at the time to pif it but was considering a balance transfer to a lower rate card or a new card with 0% on balance transfer
i plan on paying this card down over the next few months
@haulingthescoreup wrote:
@Sidewayzracer wrote:back in may my apr went from 15.55% not good but alot better then it is now up to 22.9%
no late fees on the account at all just called em and asked if they could lower this back down they said it was raised bc of the finacial crissis
the account doesnt have much on it 230 or so dollars but dont have the spare money at the time to pif it but was considering a balance transfer to a lower rate card or a new card with 0% on balance transfer
i plan on paying this card down over the next few months
Sorry to hear.
I think that the problem that you'll find with a BT is that the fees associated with it will wind up being more than the APR that you're going to wind up paying Crap 1.
If money is tight enough that you can't knock off the $230 (and I understand; I've been there), I think that a BT will hurt even more.
22.9% is essentially 2%/ month, or $4.60 on $230, if I keyed it in the calculator correctly. Can you pay $51/ month? That's about $23.50 per paycheck, if you're paid biweekly. If so, it's gone in 5 months. $62/ month will take it off in 4 months. And $81/ month will have in gone in three months.
One thing about banks: when it comes to BT's, they can sniff out desperation when it comes to BT's. Unless your scores and overall reports are good enough to get you a $0 BT offer right out of the box (and these are really rare these days), I think you'll do better off by just killing off the debt where it is.
HTSU thank you for breaking down the APR math and giving possible solutions to pay off. I really appreciate how you give members other alternatives other than PIF. I realize that is the goal, however some of us are not there yet. Thanks for always providing a new way to look at things. I never would have thought to break down the percentages. Then again, math has never been my strong point which probably addresses why I put myself in a financial bind many years ago