topic Re: APR on your discover card in Credit Cards

APR on your discover card

Anonymous — Fri, 10 Oct 2008 05:33:07 GMT

hi everyone,

I was looking on my discover open roads statement and i noticed the APR is fixed at 3.90% I was shocked because my local credit union is at 3.99% fixed...I am loving my discover card more and more each day I only hope I will be able to ask for a CLI . The limit now isn't to bad but I would really like this to be my go to card and of course have another as back up since not every place takes them..bummer

So all you discover holders is your APR this low too??

Re: APR on your discover card

jmbfl — Fri, 10 Oct 2008 06:31:18 GMT

Is this a new card? Sounds like an intro rate. My intro rate is ZERO!

(Edit: Before someone chimes in it is ZERO for purchases and 3.99% for BT's. I don't know how long they last, but it's a while.)

Message Edited by jmbfl on 10-09-2008 11:31 PM

Re: APR on your discover card

Anonymous — Fri, 10 Oct 2008 08:20:50 GMT

When I got my Discover in March, the BT rate was 0% and 0% on purchases. That lasted for about 6 months. My current rate is 14.99%.

Re: APR on your discover card

jmbfl — Fri, 10 Oct 2008 08:26:25 GMT

I think after the intro ZERO goes away my rate will be 11.99%. That is 1.00% above theie current best rate which is 10.99%. All of these rates are available at discover.com.

Message Edited by jmbfl on 10-10-2008 01:26 AM

Re: APR on your discover card

Anonymous — Fri, 10 Oct 2008 12:29:48 GMT

I have a co-worker who said his DISCOVER is 0% APR for life!!! Wow!

Message Edited by kino1161 on 10-10-2008 05:29 AM

Re: APR on your discover card

Anonymous — Fri, 10 Oct 2008 17:43:55 GMT

Nope this is not an intro rate...my intro rate was 0% for 6 months...my six months was up in july...i just figured it would reset to like 11.99% or something like that never thought to look until the other day.

It says current APR 3.90% F. Apparently its been that wa since July. I looked at my previous statements.

0% for life wow!!!! now that is a nice APR! or lack there of

Message Edited by laila08 on 10-10-2008 10:43 AM

Re: APR on your discover card

rubaty — Fri, 10 Oct 2008 17:47:52 GMT

Mine is 15.99. I'm gonna ask for a lower rate next year.

Re: APR on your discover card

jmbfl — Fri, 10 Oct 2008 19:19:46 GMT

@kino1161 wrote:
I have a co-worker who said his DISCOVER is 0% APR for life!!! Wow!

Not very likely. He may have made a BT at 0% for the life of the transfer.

Re: APR on your discover card

Anonymous — Fri, 10 Oct 2008 19:21:06 GMT

Mine is 12.99 but currently offered a 1.9 Promo for the next 6 months.

Re: APR on your discover card

jmbfl — Fri, 10 Oct 2008 19:22:20 GMT

@Anonymous wrote:
Nope this is not an intro rate...my intro rate was 0% for 6 months...my six months was up in july...i just figured it would reset to like 11.99% or something like that never thought to look until the other day.

It says current APR 3.90% F. Apparently its been that wa since July. I looked at my previous statements.

0% for life wow!!!! now that is a nice APR! or lack there of
Message Edited by laila08 on 10-10-2008 10:43 AM

There is an "F" next to the rate. Look for a footnote or on the back to see what the "F" corresponds to. I doubt this is your purchase APR.

Re: APR on your discover card

Anonymous — Fri, 10 Oct 2008 22:06:21 GMT

@jmbfl wrote:

@Anonymous wrote:
Nope this is not an intro rate...my intro rate was 0% for 6 months...my six months was up in july...i just figured it would reset to like 11.99% or something like that never thought to look until the other day.

It says current APR 3.90% F. Apparently its been that wa since July. I looked at my previous statements.

0% for life wow!!!! now that is a nice APR! or lack there of
Message Edited by laila08 on 10-10-2008 10:43 AM
There is an "F" next to the rate. Look for a footnote or on the back to see what the "F" corresponds to. I doubt this is your purchase APR.

Thanks jmbfl for that info! i went and checked and this is what it said...copied from my online statement.

Previous Billing Period: 31 Days

Purchases $ 0.00 0.01068% 3.90% F 3.90% $ 0.00 none The rates that apply to your Account are either fixed (F) or they vary (V) as noted above.

I called CSR and asked and she said it will reset but in a few months to the normal 15.99 F so i am good with that.

Message Edited by laila08 on 10-10-2008 03:06 PM

Re: APR on your discover card

Anonymous — Fri, 10 Oct 2008 22:02:22 GMT

@rubaty wrote:
Mine is 15.99. I'm gonna ask for a lower rate next year.

Hey rubaty,

my scores are not even close to what you have!! you should aks for a rate decrease for sure

!! my scores are in the upper 600's and i have never broken through to the 700 club...although i am always hopeful...congratz on the steller scores by the way

Re: APR on your discover card

rubaty — Sat, 11 Oct 2008 08:07:02 GMT

@Anonymous wrote:
@rubaty wrote:
Mine is 15.99. I'm gonna ask for a lower rate next year.

Hey rubaty,

my scores are not even close to what you have!! you should aks for a rate decrease for sure
!! my scores are in the upper 600's and i have never broken through to the 700 club...although i am always hopeful...congratz on the steller scores by the way

I got the card in Dec and I think I got a higher rate because I was in the middle of a huge app spree! From Sep - Dec 07 I got 6 new cards. It's ok...I only use it until I reach the max 5% reward and then I wait until the next cycle starts.

I was in the upper 600 for awhile last year but once I got down below 10% UTL my scores shot up. As usual with our credit it just takes time.

Re: APR on your discover card

Anonymous — Sat, 11 Oct 2008 21:55:25 GMT

Had to go look that up.. my Discover More is 16.99% and I have a BT offer for 0% till 2/09 with 4% transfer fee capped at $150. Ouch and more ouch.

Re: APR on your discover card

MattH — Sat, 11 Oct 2008 22:41:22 GMT

Since the mortgage is the only interest my wife and I pay (we pay our CCs in full every month), I had to look up my purchase APRs.

Discover 14.99%

Citi 16.990%

Chase 6.99%

[All cards have been active for over a decade. In recent years my FICO scores have ranged from about 775 to over 820. I dunno my wife's scores but we both have long-established credit with no baddies. Neither of us has ever been turned down for credit, nor has either of us applied for anything in some years.]

I dunno why these rates are so different, but since I don't pay them I've not bothered to ask for them to be lowered or otherwise shop around. All the above companies regularly send me and my wife balance transfer offers which we feed to the shredder (she has her own accounts). Credit limits on the above three cards range from a little over $10K on the Discover card to $25K on the Chase card; my wife and I put a lot on our cards some months since we carry very little cash, but we've never come close to the limits. My AMEX is a traditional Gold card, which is to say a charge card rather than a credit card; it does have a "Sign and Travel" account on which I could revolve certain charges at an APR of 12.00%. As a tradititional AMEX card it has no predefined credit limit, and they've never rejected any purchase I've made with it. I've had the card since 1982 so by now they know I pay my bills. AMEX does keep trying to persuade me to get a Platinum Card, but although I could easily afford the higher annual fee I don't travel enough to be worth it -- and I certainly don't run enough through my card to qualify for the legendary Black Centurion Card.

Message Edited by MattH on 10-11-2008 06:41 PM

Re: APR on your discover card

jmbfl — Sat, 11 Oct 2008 23:25:58 GMT

@Anonymous wrote:
I called CSR and asked and she said it will reset but in a few months to the normal 15.99 F so i am good with that.

So it is kinda sorta a second tier into rate. Or they increased you intro rate from 0% to 3.9%. And your post intro rate APR is 15.99%. These are mid-range APR's for Discover. Not great, but also not terrible. If you would like to look at their rates you may do so here:

http://www.discovercard.com/more/rates.html

Re: APR on your discover card

Anonymous — Sun, 12 Oct 2008 18:35:19 GMT

hi..i just applied for the discover card(the one voted best)for a balance transfer of 2,000.They responded by saying they would have to check things out and would let me know in thirty days...the card i want transferred is orchard..13 years old..never late one time but owe 2300 on ..which is the max credit i have..my tu score is 634 equifax 616 and experian 641..do you think they will give it to me? I did some homework first and read this was the best one for people with fair credit..??

Re: APR on your discover card

jmbfl — Mon, 13 Oct 2008 06:09:14 GMT

@Anonymous wrote:
hi..i just applied for the discover card(the one voted best)for a balance transfer of 2,000.They responded by saying they would have to check things out and would let me know in thirty days...the card i want transferred is orchard..13 years old..never late one time but owe 2300 on ..which is the max credit i have..my tu score is 634 equifax 616 and experian 641..do you think they will give it to me? I did some homework first and read this was the best one for people with fair credit..??

Did you apply on-line for a Discover Card at www.discover.com? Are you trying to get a card directly from Discover, or were you refered to HSBC for their co-branded Discover Card (which is a Discover/Novus network card issued by HSBC and not Discover and does not carry the Discover benefits. If it is the HSBC card you are going to have a problem transferring your balance from the Orchard card as most companies do not allow balance transfers between their products. (Orchard = HSBC) I do not know if HSBC can convert your card from an Orchard Card to an HSBC Discover Card, but I don't think they will do that. In any event your scores are low for a card issued directly by Discover and if you got a 30 days message directly from Discover I would say the news will not be good. A card issued by Discover Card directly is generally considered to be a card for individuals with above average to excellent credit.

Re: APR on your discover card

Anonymous — Mon, 13 Oct 2008 10:57:55 GMT

great..knew i should not have done it..now how will that affect my scores..i went to bestcreditcardoffers.com and picked the one that came highly recommended for my scores which was that discover?? Anyhow, obviously if i had the money i would pay them all down..but i don't as with the simulator i would go above 700..however that is not the case so i have to pay very little amounts or minimums for now! thanks for the response thought it would go like that.

Re: APR on your discover card

fused — Mon, 13 Oct 2008 22:33:25 GMT

My current rate is 10.99%