Slightly annoyed at the APR creep on my Chase Amazon Visa

[joltdude]

Seems like my Amazon Visa keeps creeping up the APR like clockwork every 2 or so months.. not even done the first year and its gone from 19.74 to 19.99 to 20.24 as of now.... Little annoyed.. yeah i pay this card off in full entirely and its already getting as ugly as a conventional store card... Thought they werent allowed to play games the first year..... 

Really tempted to SD this card altogether.... 

-J

[Gmood1]

Funny, received 5 emails tonight from mint, notifying me that my Chase card's APRs had all increased. 

[K-in-Boston]

Unless you have a fixed APR, ALL of your credit card APRs have gone up. The terms of your APR can't increase in the first year, but that would be prime + x%. The prime rate keeps increasing by 0.25%.

[AverageJoesCredit]

Sorry J on that. I assume thats because of the fed rate changing? I know with my Limit im not expecting much movement with Chase being that i got $1500 sl and Chase loves higher income. It does kind of stink that a card may not have room to grow without hp luv but i really just have it not really for the limit, my Amazon spend is basic, but more for diversity.

Lol, i know that csn be a drag to see the apr creep up but if you decide to Sd it just send it to SD, not sd , where at least it can join all the cool kids

[joltdude]

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@K-in-Boston wrote:
Unless you have a fixed APR, ALL of your credit card APRs have gone up. The terms of your APR can't increase in the first year, but that would be prime + x%. The prime rate keeps increasing by 0.25%.

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True but felt i should have gotten a better tier to begin with... only thing i can do is cancel it or SD it at this point.. never would think of floating a major purchase on it... Least I have cards that work for that still..

[pipeguy]

APR's have increased across the board based on increases in the fed rate - that said, the reason I kept my GE/Sync Amazon account after I got the Chase version, is to take advantage of 0% 6/12/24 months for major Amazon purchases. When I expect to PIF I use the Chase, when I expect to pay over time I use the GE/Sync version - in both cases I pay zero interest, but I have the option and don't worry about the APR. 

[Anonymous]

As a few others have said, this is due to the prime rate increases aligning with the Federal Reserve's increases. Expect all rates that aren't fixed to continue to creep up as they view the economy strengthening. All credit cards from all banks that offer "x% + prime" are impacted.

[Anonymous]

If you PIF every month, why are you bothered by an APR increase?  I don't even look at my APRs and all of my creditors could increase them to 99.99% and it wouldn't impact me at all.

You said yourself that you don't carry balances, so I'm just unclear why this is bothering you to the point where you would possibly SD the card?

[Anonymous]

I have no clue what my APR is either since I will never pay interest ever again.  With cash back cards, the cash back is destroyed by the interest rate.

This year I paid something like $1.50 in interest because of a "bank error" on crediting a payment but they refunded the $1.50 and an extra $30 because I threatened them gently and sweetly explaining that if they have bank errors it might be wise to work with the CPFB to correct any computer glitches quickly, lol.

If you're paying interest, it may make some sense for you to make sure you have enough money in savings to cover emergencies, and then check your spending habits to see if it makes sense to be paying for everything you're buying.  Just cutting a few spend categories to $0 can save you hundreds or thousands of dollars in the long run by avoiding paying the banks.

[iced]

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@joltdude wrote:

Seems like my Amazon Visa keeps creeping up the APR like clockwork every 2 or so months.. not even done the first year and its gone from 19.74 to 19.99 to 20.24 as of now.... Little annoyed.. yeah i pay this card off in full entirely and its already getting as ugly as a conventional store card... Thought they werent allowed to play games the first year..... 

Really tempted to SD this card altogether.... 

-J

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I don't get it. If you PIF, why would you even care what the APR is? They could all be 29.99% and it wouldn't matter.