topic Re: Lowest possible Apr? in Credit Cards

Lowest possible Apr?

LShawn08 — Fri, 11 Mar 2016 16:34:16 GMT

I don't have much knowledge of how Apr's differ from Bank cards to Store cards. Looking into the lowest possible Apr's for my own accounts and others I'm thinking about attaining in the future. Does anyone know the lowest Apr rates for

Capital One QS Mastercard

Banana Republic Visa

Sams Club Mastercard

Eddie Bauer Store Card

The Limited Store Card

Not sure if Fico stores would make a difference in the rates but there at the bottom.

Re: Lowest possible Apr?

OmarGB9 — Fri, 11 Mar 2016 16:43:58 GMT

Store cards usually only offer ONE variable APR, and it's usually in the 25.99%+ range.

Bank cards have a range of APRs, which vary by credit product and can easily be accessed when pulling up the terms for said credit product.

Re: Lowest possible Apr?

CH-7-Mission-Accomplished — Fri, 11 Mar 2016 16:53:51 GMT

I believe Cap 1's lowest right now is about 13.49%.

May I ask why on earth you have these godawful Comenity store cards with FICO scores of 780-plus? Seriously, those are all the worst of the subprime store cards. You should have a portfolio of A+ cards, not pure crap.

Re: Lowest possible Apr?

LShawn08 — Fri, 11 Mar 2016 18:54:29 GMT

@CH-7-Mission-Accomplished wrote:
I believe Cap 1's lowest right now is about 13.49%.

May I ask why on earth you have these godawful Comenity store cards with FICO scores of 780-plus? Seriously, those are all the worst of the subprime store cards. You should have a portfolio of A+ cards, not pure crap.

I'm not exactly sure what "pure crap" your speaking about. Heck, I'm not sure if that is meant to be a compliment about my scores or a insault in lack of taste in A+ cards. Maybe, both ? I have cards from places I frequently shop.

Re: Lowest possible Apr?

LShawn08 — Fri, 11 Mar 2016 17:27:41 GMT

@OmarGB9 wrote:
Store cards usually only offer ONE variable APR, and it's usually in the 25.99%+ range.

Bank cards have a range of APRs, which vary by credit product and can easily be accessed when pulling up the terms for said credit product.

Oh well that's good to know about Capital One, my current rate is the lowest apr possible.

Re: Lowest possible Apr?

Anonymous — Fri, 11 Mar 2016 17:50:00 GMT

For the most part, at least I kow with Capital One you can go to their site and see what the apr ranges are for the credit cards. Not sure about the store cards though. Yes, your score and overall profile will determine what your apr is.

Re: Lowest possible Apr?

Creditaddict — Fri, 11 Mar 2016 18:33:48 GMT

@LShawn08 wrote:
I don't have much knowledge of how Apr's differ from Bank cards to Store cards. Looking into the lowest possible Apr's for my own accounts and others I'm thinking about attaining in the future. Does anyone know the lowest Apr rates for

Capital One QS Mastercard
Banana Republic Visa
Sams Club Mastercard
Eddie Bauer Store Card
The Limited Store Card

Not sure if Fico stores would make a difference in the rates but there at the bottom.

Cap1 newer cards I don't believe go below 13% but older cards can be in the 10-12%.

Banana just has 1 fixed rate

Sams has 3 rates with lowest being 19% i think?

Eddie Bauer and Limited only have 1 rate and i believe it's 26.99.

you didn't talk about CLI's but with your scores you can probably call credit solutions for Banana and Sams and ask for $25k and get a counter close to it if not it.

Eddie Bauer and Limited you can call number on back of cards and ask the robo lady for CLI and say no specific amount and keep doing it until she says no.

Re: Lowest possible Apr?

LShawn08 — Fri, 11 Mar 2016 19:01:18 GMT

Appreciate the posts everyone.

Looks like for newer members of Sam'sClub the Apr can be as low as 14.90%

Capital One has my Apr at 14.50 but it's also nearly 8 years old. I'll probably live chat someone at CapOne and ask about lowering it or maybe something else to sweeten the pot.

Re: Lowest possible Apr?

Anonymous — Fri, 11 Mar 2016 19:02:11 GMT

@LShawn08 wrote:
I don't have much knowledge of how Apr's differ from Bank cards to Store cards. Looking into the lowest possible Apr's for my own accounts and others I'm thinking about attaining in the future. Does anyone know the lowest Apr rates for

Capital One QS Mastercard
Banana Republic Visa
Sams Club Mastercard
Eddie Bauer Store Card
The Limited Store Card

Not sure if Fico stores would make a difference in the rates but there at the bottom.

Like someone else said, you should be able to get some of the best cards out there with those scores. That means 0% APR. I have three 0% cards now (4 if you count my DC with the toy limit). If you want, you could just apply for a different 0% card every year, and never have to pay interest. There are 21-month 0% promo cards out there, if you look around.

My scores are at least 50 points lower than yours, and my AMEX BCE has about 13% when the 0% promo ends, and my Chase SW has about 15% (was even lower before prime went up)

Re: Lowest possible Apr?

LShawn08 — Fri, 11 Mar 2016 20:36:50 GMT

Capital One has refused my 2 requests for an increase for the last 4 years...then poof! They refuse my request for a lower apr but give me $1,000.00. Okay, sure why not? Many people here on myfico have told me to cut my loses with Capital One. They said I'd never get past the ominous $4,000.00 threshold, unless I got a Venture. Maybe my extreme politeness to the R.E.P helped or maybe the computer was being friendly today. Who's to know ?

Capital One you can be such a high school drama queen. Am I right or am I right?

I'm gonna go charm and polite my way into some free food. I mean why not give it a go? A CLI from CapOne happened, so anything is possible

Have a great weekend everyone and appreciate the small victory's!

Re: Lowest possible Apr?

Kevin86475391 — Fri, 11 Mar 2016 19:55:34 GMT

Just my two cents, but I think it's good to remember that everyone has different tastes and priorities when it comes to credit cards. The QuickSilver as the primary, daily card, plus a few cards for places the OP shops often (and perhaps gets discounts with the card) isn't really a bad system. It's certainly not the portfolio I would personally have, but I can see it working for someone who just wants a strong, simple daily card and a few specialized cards.

However, I do wonder if your question about APR is sort of for general reference and to optimize your cards now even though you may be PIF-ing every month, or if you're actually carrying balances? If it's the latter, then indeed carrying balances on store cards isn't usually the best strategy since as discussed in this thread, the APRs are much higher and would offset any discounts you may be getting. If you plan to carry balances there are much better cards out there that you would probably qualify for.

Re: Lowest possible Apr?

Creditaddict — Fri, 11 Mar 2016 19:57:59 GMT

If you have an old cap1 card I would run pre-qual and get 2 new ones with these new huge limits they are giving and then combine them into your old one in 6 months!!! Boom high school games won!

Re: Lowest possible Apr?

SunriseEarth — Fri, 11 Mar 2016 20:09:10 GMT

@LShawn08 wrote:
I don't have much knowledge of how Apr's differ from Bank cards to Store cards. Looking into the lowest possible Apr's for my own accounts and others I'm thinking about attaining in the future. Does anyone know the lowest Apr rates for

Capital One QS Mastercard
Banana Republic Visa
Sams Club Mastercard
Eddie Bauer Store Card
The Limited Store Card

Not sure if Fico stores would make a difference in the rates but there at the bottom.

If low APRs are a concern, store cards may not be the best decision. Store cards are most valuable if they have special financing and/or a competitive rewards structure.

The lowest possible APR on Cap One QS is 13.24%. However, if you app for the QS, you'll get the Visa, not the MC. QS1 is a MC, but it has an AF. It's possible to get a lower APR by applying for VentureOne (their lowest is 12.24%), and you could then PC that to QS.

Banana Republic Visa is effectively a 5% rewards card in-store (includes all Gap brands), so if you're a heavy shopping there, it might be worth it. If you're looking at bank cards, US Bank Cash+ offers selectable categories that include Clothing Stores at 5%, but IIRC, that's only on the first $1500 of spend per quarter.

Re: Lowest possible Apr?

Kevin86475391 — Fri, 11 Mar 2016 20:13:03 GMT

Ooh, you could also spread a rumor that Capital One hooked up with BofA behind the gym!

Bam! Reputation rekt!

Re: Lowest possible Apr?

LShawn08 — Fri, 11 Mar 2016 20:18:40 GMT

@SunriseEarth wrote:
@LShawn08 wrote:
I don't have much knowledge of how Apr's differ from Bank cards to Store cards. Looking into the lowest possible Apr's for my own accounts and others I'm thinking about attaining in the future. Does anyone know the lowest Apr rates for

Capital One QS Mastercard
Banana Republic Visa
Sams Club Mastercard
Eddie Bauer Store Card
The Limited Store Card

Not sure if Fico stores would make a difference in the rates but there at the bottom.
If low APRs are a concern, store cards may not be the best decision. Store cards are most valuable if they have special financing and/or a competitive rewards structure.

The lowest possible APR on Cap One QS is 13.24%. However, if you app for the QS, you'll get the Visa, not the MC. QS1 is a MC, but it has an AF. It's possible to get a lower APR by applying for VentureOne (their lowest is 12.24%), and you could then PC that to QS.

Banana Republic Visa is effectively a 5% rewards card in-store (includes all Gap brands), so if you're a heavy shopping there, it might be worth it. If you're looking at bank cards, US Bank Cash+ offers selectable categories that include Clothing Stores at 5%, but IIRC, that's only on the first $1500 of spend per quarter.

I already have a QS, it's also a MasterCard and it has no AF. I guess I have some anomaly.

Re: Lowest possible Apr?

SunriseEarth — Fri, 11 Mar 2016 21:05:13 GMT

@LShawn08 wrote:
@SunriseEarth wrote:
@LShawn08 wrote:
I don't have much knowledge of how Apr's differ from Bank cards to Store cards. Looking into the lowest possible Apr's for my own accounts and others I'm thinking about attaining in the future. Does anyone know the lowest Apr rates for

Capital One QS Mastercard
Banana Republic Visa
Sams Club Mastercard
Eddie Bauer Store Card
The Limited Store Card

Not sure if Fico stores would make a difference in the rates but there at the bottom.
If low APRs are a concern, store cards may not be the best decision. Store cards are most valuable if they have special financing and/or a competitive rewards structure.

The lowest possible APR on Cap One QS is 13.24%. However, if you app for the QS, you'll get the Visa, not the MC. QS1 is a MC, but it has an AF. It's possible to get a lower APR by applying for VentureOne (their lowest is 12.24%), and you could then PC that to QS.

Banana Republic Visa is effectively a 5% rewards card in-store (includes all Gap brands), so if you're a heavy shopping there, it might be worth it. If you're looking at bank cards, US Bank Cash+ offers selectable categories that include Clothing Stores at 5%, but IIRC, that's only on the first $1500 of spend per quarter.
I already have a QS, it's also a MasterCard and it has no AF. I guess I have some anomaly.

Did you PC to get a QS? If you previously had another MC (Platinum, QS1) and PCed, you'd get a MC. However, it's possible they offered MC for new QS cards at some point in the past. New apps for the regular QS now are issued as Visa cards.

Re: Lowest possible Apr?

Anonymous — Thu, 31 Mar 2016 15:54:28 GMT

When I called Capital One and they had me re-apply over the phone, the service rep asked if I wanted Visa or Mastercard version of Quicksilver. So it seems like they do offer it in both "flavors," but you have to call in and talk to someone to get the option.

On a different but thread-related note, I got the acceptance letter from Capital One a few days ago, and it said my interest rate is 18.24%. Despite the credit score they quoted on the letter being the lowest FICO subversion score I have, it's still decently good (776). So I'm wondering how others got lower rates. While I don't plan to ever carry a balance on the card (I got the Ring in case I ever need to do that), I'm a bit disappointed since I expected to end up with a lower rate. Is there some trick to being approved with a lower APR?

Re: Lowest possible Apr?

galahad15 — Thu, 31 Mar 2016 16:00:29 GMT

@LShawn08 wrote:
I don't have much knowledge of how Apr's differ from Bank cards to Store cards. Looking into the lowest possible Apr's for my own accounts and others I'm thinking about attaining in the future. Does anyone know the lowest Apr rates for

Capital One QS Mastercard
Banana Republic Visa
Sams Club Mastercard
Eddie Bauer Store Card
The Limited Store Card

Not sure if Fico stores would make a difference in the rates but there at the bottom.

With FICO scores as high as yours, if you are interested in low-APR cards, you might want to consider applying for the following cards listed below, since you will be likely to qualify for their lowest-available rates:

Western/Unify FCU Variable-Rate VISA: as low as 5.24% V, anyone can join/apply to this CU

Western/Unify FCU Fixed-Rate VISA: as low as 8.99% F, no BT or cash advance fees, anyone can join/apply to this CU

Barclay Ring MC: 8.25% V across-the-board APR for purchases, BT, and cash advances; no BT fees and $3 fee per cash advance