topic Re: Suggestions for credit cards with good APR in Credit Cards

Suggestions for credit cards with good APR

Anonymous — Thu, 30 Aug 2018 06:27:16 GMT

I am coming out of garden in Oct and planning to go on app spree. Below is my profile:
BofA credit card: $9000 CLI
AMEX Blue Cash Everyday: $6500 CLI
NFCU Visa Signature Go Rewards: $6500 CLI
NFCU Visa Signature Cash Rewards: $11500 CLI

AA: 1.6 yrs
No derogs
Score: 731 on both TU and EF
Hard enq: 14 on TU ( last query on Aug 2017) and 16 on EF (last query on March 2018)

I applied for Citi and Chase earlier (early 2017) but turned down as my profile is relatively new.

Any recommendations for credit cards from Penfed, Capital One, Discover, NFCU which have high CLI? Looking for zero annual fee and less APR.

Re: Suggestions for credit cards with good APR

Anonymous — Thu, 30 Aug 2018 06:57:36 GMT

Assuming 731 is from CK, I would find out what your FICO scores are before proceeding. As for APR, it's really based on your credit profile although most rewards cards will have relatively higher APR, if you're looking for low APR to carry a balance with, you need to look for a no rewards card.

Re: Suggestions for credit cards with good APR

Anonymous — Thu, 30 Aug 2018 07:02:40 GMT

@oldman87, where can I find my FICO score for free? Yes. 731 was from Credit Karma.

Re: Suggestions for credit cards with good APR

Anonymous — Thu, 30 Aug 2018 07:12:38 GMT

The score you get from Amex BCE is Experian FICO8, I don't have BoA and Navy so I don't know what they provide if they do. You can get all 3 FICO8 for $1 7 day trial at Credit Check Total, make sure you cancel before the trial end date or you'll be charged $30 monthly fee.

Re: Suggestions for credit cards with good APR

Anonymous — Thu, 30 Aug 2018 07:24:24 GMT

NFCU’s Platinum has a low APR, you can even try to PC one of your current cards, I think that saves you another hard pull. If you can get in with USAA they also have a low rate Platinum card.

Re: Suggestions for credit cards with good APR

Anonymous — Thu, 30 Aug 2018 09:35:33 GMT

BofA gives you free TU FICO8 monthly.

Re: Suggestions for credit cards with good APR

Anonymous — Thu, 30 Aug 2018 13:16:02 GMT

Thanks for the tip guys. TU FICO8 is 754 and EF FICO8 is 732. I did not serve in armed forces. So, I don’t think they allow me to join USAA.

Re: Suggestions for credit cards with good APR

Anonymous — Thu, 30 Aug 2018 14:21:56 GMT

Why are you concerned with a low APR card? I get zero APR, as in the case of a BT card, but low APR suggests planning ahead of time to have to carry balances and pay interest.

Re: Suggestions for credit cards with good APR

Anonymous — Sat, 01 Sep 2018 22:14:38 GMT

Well, I don’t travel much. So, travel cards are not much use for me. I am not interested in balance transfers either. So, I thought I should look at 0 AF and low APR cards.

Re: Suggestions for credit cards with good APR

Anonymous — Sat, 01 Sep 2018 23:25:00 GMT

TBH the days of good/low APRs are over. So the only way to combat that, is to either PIF or carry BT balances during 0% promotion period.

The typical APR seems to be between 16-18%, unless you go with a CU. Which it seems you have in those two NFCU cards^.

If you want lower rates, use you current cards wisely and ask for APR reductions. But it goes without saying, lower rates come with experience credit file and better scores. Also, since you're a student. You appear to already have a decent selection of cards, more isn't always better.

High HP/inq are going to count against you on a thin file, hence more denials. You might need to stay in the garden longer.

That said, Discover is good card to have and BofA has low rates from what I've seen. best of luck to you

Re: Suggestions for credit cards with good APR

UpperNwGuy — Sat, 01 Sep 2018 23:34:45 GMT

My advice would be to ignore the APR and instead focus on credit card rewards. However, this requires that you pay off your statement balances in full each month. I've been doing that for the last four years, and life has been wonderful. No carryover balances means I don't have to worry about APR.

Re: Suggestions for credit cards with good APR

galahad15 — Sun, 02 Sep 2018 04:30:56 GMT

Some possible suggestions that are currently open to new apps -- and that anyone can app for, afaik (disclaimer: I also have some of cards listed below myself in my current collection). The credit for the source of these card options go to the poster themanwhocan and his low-APR card list (post #7 in the link):

1. Unify FCU Variable-Rate VISA: as low as 6.74% V*, no rewards program (formerly known as Western FCU)

2. Premier America CU Premier Privileges Rewards MC: currently as low as 8.45% F**, ~1.5% rewards program

3. Unify FCU Fixed-Rate VISA: as low as 8.99% F***, no rewards program (formerly known as Western FCU)

The BEFCU VISA card as low as 4.99% F with rewards may also be an option, but there is some uncertainty if it may presently be open to new apps outside of California(?). There may additionally be other low-APR cards such as the PenFed card I believe an earlier poster had mentioned iirc and if you qualify for membership, a USAA card somewhere around 8.XX% V, but in mho, the ones above are the best of the best, if you are looking for a low-APR card, and if you are not potentially able or eligible to app for some of the geographically-restricted, low-APR cards listed in themanwhocan's low APR card chart. (Just for example, the Sunflower Bank card with APR of 6.00% V is geographically restricted to the state that it has bank branches in; I tried to app outside of the geo restrictions but was denied for not being in the bank's geo footprint.)

*To qualify for the lowest APR, you need a FICO EX Score 2 (Auto version?) of at least 740-750 or higher.

**For the lowest APR, you need a FICO EX Score (exact version uncertain?) of at least 730 or higher.

***For the lowest APR, you need a FICO EX Score 2 (Auto version?) of at least 740-750 or higher, *and* a minimum SL of $15k or more.

Re: Suggestions for credit cards with good APR

galahad15 — Sun, 02 Sep 2018 04:16:10 GMT

With the kindest respect and admiration intended to my fellow posters on the forum, I'm going to have to politely go against the popular consensus and groupthink on the forum that cards with very low go-to and ongoing APRs are necessarily an undesirable thing, or that they are impossible to come by in the current credit environment Yes, they may be relatively scarce or rare to find, but the 3 cards I listed in my post above are cards that anyone can app for, as far as I best aware, and are not geographically restricted -- the PACU MC even has a rewards program. Don't get me wrong, I love rewards-generous cards that are much more likely to have much higher APRs as well, and carry some of them too, as shown in my signature. But IMO, an exceptionally low-rate, single-digit APR card can be a powerful tool for the purposes of obtaining a low-interest loan, if used responsibly and not abused.

Re: Suggestions for credit cards with good APR

creditfan — Sun, 02 Sep 2018 05:15:15 GMT

try sdfcu.org for low apr

Re: Suggestions for credit cards with good APR

Anonymous — Sun, 02 Sep 2018 15:08:13 GMT

My question would be "Why do you need more cards NOW?" You appear to have enough credit for day to day use, and with recents inqs you may want to let your history age so you can get better terms on good cards. Inqs count scorewise for only a year (so if your latest on one CRA was Aug 17, they no longer impact score) they are visible for two years, so only manual review it may look like too much credit seeking.

Re: Suggestions for credit cards with good APR

kilroy8 — Sun, 02 Sep 2018 15:19:42 GMT

If you have had your BCE for more than one year and pay it down to 0, AmEx will likely give you a one year interest reduction on it. Mine just got an offer for 6.99% for one year. I took it, of course. Call them up.

Re: Suggestions for credit cards with good APR

Anonymous — Sun, 02 Sep 2018 21:13:33 GMT

Thanks guys for the tips. I recently got job. So, I paid down all my balances.

As far as the number of cards required, it’s the 100k club illusion. Just want to try it out before the credit card companies start rejecting because of thin file. All the cards I got were when my file is even thinner. So, just want to see my odds.

Re: Suggestions for credit cards with good APR

SouthJamaica — Mon, 03 Sep 2018 01:25:58 GMT

@Anonymous wrote:
I am coming out of garden in Oct and planning to go on app spree. Below is my profile:
BofA credit card: $9000 CLI
AMEX Blue Cash Everyday: $6500 CLI
NFCU Visa Signature Go Rewards: $6500 CLI
NFCU Visa Signature Cash Rewards: $11500 CLI

AA: 1.6 yrs
No derogs
Score: 731 on both TU and EF
Hard enq: 14 on TU ( last query on Aug 2017) and 16 on EF (last query on March 2018)

I applied for Citi and Chase earlier (early 2017) but turned down as my profile is relatively new.

Any recommendations for credit cards from Penfed, Capital One, Discover, NFCU which have high CLI? Looking for zero annual fee and less APR.

The best places to find low APR credit cards are credit unions.