topic Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them) in Credit Cards

Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Shawman — Tue, 19 Mar 2024 21:42:35 GMT

What card(s) do you know of that are 10% APR or under? (NOT as a promotion, but as their normal rate).

-10% APR or less (as their normal rate, not a promotion)

-Basic card OK (I have Rewards cards already at higher rates, but want a low-rate backup card should I ever need to carry a balance).

-Have Excellent Credit score (800+)

-However, card needs to be available for lower credit limits (like 5k). Unity Financial has a good under-10% card, but with Unity, that card requires a minimum credit limit of 15k. (15k-50k). I have too much open credit (w/higher rate Rewards cards) to be given another 15k, so I'd need one that I could get with a lower credit limit, such as 5k.

-Tiny credit unions are fine as long as I can join them (ie, through donation to an organization etc).

The only two cards I know of (under 10% long-term) are: Unity Financial (but it has too high a credit limit) and LOCFCU (a bit expensive to join via the qualifying organization). A few I found in older google searches are now well above 10% (12%, 15% etc.)

I'd very much like to know what other 10%-or-under cards are out there under the radar. Even if you're not sure about the credit limit amounts, I can always call them to ask. Any suggestions would be much appreciated. Thank you!

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Horseshoez — Tue, 19 Mar 2024 22:02:52 GMT

@Shawman wrote:

-However, card needs to be available for lower credit limits (like 5k). Unity Financial has a good under-10% card, but with Unity, that card requires a minimum credit limit of 15k. (15k-50k). I have too much open credit (w/higher rate Rewards cards) to be given another 15k, so I'd need one that I could get with a lower credit limit, such as 5k.

I'm not sure I understand that comment; there are lots of folks here who have total limits many times their income. Yes, some lenders may shy away from an applicant who already has lots of credit, but I do not believe the whole "too much open credit" thing is universal for all lenders.

Disclaimer, I have way more credit than I need/want/desire (but still only a fraction of my income), so I don't really understand having a really high total limit either.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

pizzadude — Tue, 19 Mar 2024 22:09:18 GMT

NFCU's lowest rate is on their platinum card, currently 11.24%. I know you are looking for < 10% but you may not find a lot of cards with single digit rates anymore.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Horseshoez — Tue, 19 Mar 2024 22:12:36 GMT

@pizzadude wrote:
NFCU's lowest rate is on their platinum card, currently 11.24%. I know you are looking for < 10% but you may not find a lot of cards with single digit rates anymore.

My gut also tells me those advertising "Rates as low as" may well not actually be approving new card applications at their lowest rates.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

ptatohed — Tue, 19 Mar 2024 22:24:05 GMT

Here is one at a fixed 8.75% fixed. I don't know anything about joining the CU.

https://www.starone.org/cards/credit/visa-signature-rewards/

8.90% fixed. I don't know about joining.

https://www.adviacu.org/cards/visa-credit-cards/fixed-rate-card

7.99%

https://www.bournsfcu.org/loans-and-credit-cards/credit-cards

There are some credit cards that have rates "as low as" what you want, but there is a range and you may not know what you'll get until after approval. AOD Plat "starts at" 9.95%.

https://www.aodfcu.com/visa-platinum-card-no-link/

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Kforce — Tue, 19 Mar 2024 22:36:36 GMT

You might get more responses if we know where you live.

Many CU's require you live in the state or surrounding counties.

Many more geographic restricted CU's than open to all.

Have a couple local at 10-12% but geo restricted.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Shawman — Wed, 20 Mar 2024 01:05:50 GMT

Thanks for the suggestions everyone.

Unfortunately, the ones suggested are all geo restricted w/no additional way to join, and I've already looked into all the CUs in my geographic area (one of the ones someone listed is actually in my state, but restricted to just certain counties, and I don't qualify no matter how much I want to fudge the rules). But there are plenty of CUs that allow one who wouldn't normally qualify to join via donating or joining an organization (for instance, LOCFCU -- but their qualifying organization is a tad expensive, and I was hoping there were other options). Also, I was hoping this thread might help others as well, not just me, where I live.

I'm looking for other CUs (large or small) w/an "if you don't qualify normally, you can still join us by being a member of... or donating to..." exception. A lot of CUs do offer this; I'm just trying to see if there are any that ALSO has a sub-10% rate other than LOCFCU.

As for my credit limit, I know everywhere is different, but I recently asked one of my Rewards Cards CUs to raise my credit limit by +15k, but they didn't want to raise it more than 5k because of all the open credit I already had and my income isn't what it once was. I finally got them to raise it by 10k by appeal, which they did as a favor, because it's a CU that's actually member-friendly, but that showed me that I may even have problems getting a new/additional 5k with my current income and all my open credit, let alone adding another 15k -- which was the minimum for the Unify card.

So again, if anyone knows any other CUs that offers a sub-10% card that also allows one to override any geo-restriction by donating/joining an organization, please post them here. There are plenty of CUs that allow organization joining... and some CUs with sub-10%... I'm just trying to find more than the one I was able to find so far.

(And as a PS to others: if you can swing/don't mind the 15k minimum, the Unify card seems like a good deal. You get a sub-10% APR fixed rate, but instead of it being a bare-bones card, it actually has decent perks as well, like CDW, purchase, and 1% rewards across the board -- not as loaded as other higher-APR "rewards" cards, but for a sub-10% card, it's pretty darn good).

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

GhostCredit — Wed, 20 Mar 2024 01:47:16 GMT

Mines 7.950% fixed. premieramerica.com

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Xanthos472 — Wed, 20 Mar 2024 01:51:02 GMT

@Shawman wrote:
What card(s) do you know of that are 10% APR or under? (NOT as a promotion, but as their normal rate).

-10% APR or less (as their normal rate, not a promotion)
-Basic card OK (I have Rewards cards already at higher rates, but want a low-rate backup card should I ever need to carry a balance).
-Have Excellent Credit score (800+)
-However, card needs to be available for lower credit limits (like 5k). Unity Financial has a good under-10% card, but with Unity, that card requires a minimum credit limit of 15k. (15k-50k). I have too much open credit (w/higher rate Rewards cards) to be given another 15k, so I'd need one that I could get with a lower credit limit, such as 5k.
-Tiny credit unions are fine as long as I can join them (ie, through donation to an organization etc).

The only two cards I know of (under 10% long-term) are: Unity Financial (but it has too high a credit limit) and LOCFCU (a bit expensive to join via the qualifying organization). A few I found in older google searches are now well above 10% (12%, 15% etc.)

I'd very much like to know what other 10%-or-under cards are out there under the radar. Even if you're not sure about the credit limit amounts, I can always call them to ask. Any suggestions would be much appreciated. Thank you!

For this, you may want to ask @galahad15 IIRC, they collect low-rate cards. Sorry I can't help more, can't recall offhand seeing anything like that lately although TBH I haven't been looking.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

xenon3030 — Wed, 20 Mar 2024 01:54:27 GMT

It might be difficult to find 0% APR cards to apply, due to inflation. But several cards are known to give 0% APR offers regularly to their existing customers.

Citi SYW regularly sends me 0% APR offers. I talked to Discover via chat after a house purchase and they gave me a 0% APR offer for a year. BOA also sends me such offers regularly on either of my cards (I have 4 CC with them).

PS: Amex sends me 0% APR offers but I do not plan to accept any of them. One time, I accepted their 0% APR offer and a few months later, they mentioned it as an excuse to avoid providing a SUB, when I planned to apply for one of their CC.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Anonymous — Wed, 20 Mar 2024 03:02:38 GMT

@GhostCredit wrote:
Mines 7.950% fixed. premieramerica.com

Their new rates are much higher! 15+% min.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Shooting-For-800 — Thu, 21 Mar 2024 01:55:24 GMT

I just got BECU at 13.24%.

0% for 12 months, $0 balance transfer fee.

GL!

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

galahad15 — Fri, 22 Mar 2024 18:30:57 GMT

@Xanthos472 wrote:
For this, you may want to ask @galahad15 IIRC, they collect low-rate cards. Sorry I can't help more, can't recall offhand seeing anything like that lately although TBH I haven't been looking.

Hi @Shawman! Sorry as I really wish I could help, but all of the cards below 10% go-to APR that I have collected over the years and are in my signature below are unfortunately no longer currently available to app for at rates below 10% anymore for new apps, except of course the Unify fixed-rate card (not geo-restricted) and the BEFCU card (which is now geo-restricted only to persons living or working in California, unlike when I had originally apped for it in 2017 when it was not geo-restricted then). The other cards, such as Dover FCU, Premier America FCU, etc. are either no longer open to new apps or are now greater than 10%, for new apps. Another CU that formerly used to offer cards with fixed APRs below 10%, Dow FCU f.k.a. DCECU, now appears to have shifted their card portfolio so that instead of offering cards with below 10% F interest rates, they are now offering low-double-digit variable rates for new apps, regrettably...

@ptatohed actually had some really great ideas in his post on this thread though -- except for BEFCU of course which I also have, I wasn't aware of those other ones he had listed, many thanks for sharing!

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Shawman — Fri, 22 Mar 2024 18:35:43 GMT

Galahad15, thank you, appreciate it.

FYI, for BEFCU, now it's not "California" -- now, you must be affiliated with one of those companies listed, otherwise you can't join (even if you live next door to them). Be glad you have it, that place is pretty much impossible to join now.

As for the other ones like Dow, yes, I did look at some of the suggestions, and sure enough they're all over 10% now.

That Unify card is a good deal but I don't think I could swing the minimum credit limit.

Anyway thanks for the reply!

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Creditwiser — Fri, 22 Mar 2024 18:36:28 GMT

Back when Barclays had their Apple Rwds Visa, and worth my time and spend, I received a rate reduction to 10%. One of my greatest CC shocking monents at the time. Since they opted to no longer support the card and their contract with Apple, they transferd that card to a Master Card a few years ago. My rate went to 15.24% .

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

galahad15 — Fri, 22 Mar 2024 19:20:45 GMT

@Shawman wrote:
Galahad15, thank you, appreciate it.
FYI, for BEFCU, now it's not "California" -- now, you must be affiliated with one of those companies listed, otherwise you can't join (even if you live next door to them). Be glad you have it, that place is pretty much impossible to join now.
As for the other ones like Dow, yes, I did look at some of the suggestions, and sure enough they're all over 10% now.
That Unify card is a good deal but I don't think I could swing the minimum credit limit.
Anyway thanks for the reply!

Very glad to have been able to help, also thank you for the valuable heads-up and updated info that BEFCU now requires CA employment, and that just CA residence alone is no longer applicable! Wasn't aware of the new requirements lol...good to know and again thanks!

On your question on the minimum credit limit for the fixed Unify card -- actually, believe it or not lol, when I first apped for the Unify cards that I have on or around 2015 or thereabouts, I didn't actually receive the lowest-available interest rate, right then then and there when I first apped! To qualify for the-then lowest fixed interest rate, I had to take a few more hard inquiries as my FICO score got higher over time, and eventually, Unify reduced my APR on my Unify card from ~16% F to the then-lowest-rate available below 10%. (One other requirement that Unify had at the time in order to qualify for the lowest-available, go-to APR -- not sure if it is still applicable now though? -- was a minimum FICO Score 8 iirc.(?) of 740.) And so all I had to do was to keep improving my score and credit limit over time, and then eventually, the doors opened to be in the lowest-available APR with Unify! With your excellent FICO scores (I think you had mentioned being in the 800s right?), you may actually be halfway already there even now!

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Shawman — Fri, 22 Mar 2024 21:20:46 GMT

galahad15,

Just FYI, the "740" requirement is still there at Unify. When I asked about the rate, I was told to get their sub-10% rate, it required a score of 740+, plus an approved credit limit between $15k to $50k for the Plat card. I have the 740+ but too much credit opened on other cards. I pay off my bills each month so rewards are more important than a low rate, but I figured I should have a low-rate card for if there's ever a time where I'm not able to do so. Up until now, that card was PenFed's "Promise", but as of May 1st PenFed turned it into a worthless card, raising the rate to 18% like their other cards, but with no perks -- and they won't let anyone "transfer" to a different card type either, without cancelling and doing a whole new application. Since it's my "oldest" card I don't want to close it, and I don't want 18% so I'll just put one 99c purchase a year on it.

If not sub-10% there are some 11-12% options out there at least.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

ptatohed — Fri, 22 Mar 2024 21:59:54 GMT

@Shawman wrote:
galahad15,
Just FYI, the "740" requirement is still there at Unify. When I asked about the rate, I was told to get their sub-10% rate, it required a score of 740+, plus an approved credit limit between $15k to $50k for the Plat card. I have the 740+ but too much credit opened on other cards. I pay off my bills each month so rewards are more important than a low rate, but I figured I should have a low-rate card for if there's ever a time where I'm not able to do so. Up until now, that card was PenFed's "Promise", but as of May 1st PenFed turned it into a worthless card, raising the rate to 18% like their other cards, but with no perks -- and they won't let anyone "transfer" to a different card type either, without cancelling and doing a whole new application. Since it's my "oldest" card I don't want to close it, and I don't want 18% so I'll just put one 99c purchase a year on it.

If not sub-10% there are some 11-12% options out there at least.

Shaw, I still think you shouldn't rule out the Unify. I would not be surprised at all if you could qualify for the $15,000 minimum CL.

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Kforce — Fri, 22 Mar 2024 22:15:40 GMT

Maybe / Unknown / No real knowledge

" https://www.thepolicecu.org/credit-cards/platinum-visa "

As low as 9.25%

One of the eligibility options ?

I'm a friend/supporter of law enforcement or law enforcement professional outside
of California joining through American Consumer Council.

Might give them a call.
Maybe being a friend of law enforcement and ACC member is all that is needed !

Re: Under 10% APY cards? (Small credit unions OK, as long as one can join them)

Shawman — Sat, 23 Mar 2024 00:06:58 GMT

One quick question about AOD FCU... How did you join it? Are you local to them, or did they at one time allow anyone to join? On their website it seems like only those in certain parts of AL are eligible to join... or am I wrong? Thanks.

And Police Credit Union is another option I guess. It says 9.XX - 15.XX depending on creditworthiness, though it doesn't say if those rates are dependant on the credit limit as well. Anyone CAN join Police thru ACC. The wording on their website is confusing (as it states those "outside of California" can join with ACC) but I called them to verify and was told that yes, anyone (even inside Calif) can join them thru the ACC now.