topic Re: APR changed from approval to mailing in Credit Cards

APR changed from approval to mailing

ShiningDown — Mon, 23 Jul 2012 03:39:14 GMT

I applied for a Johnson bank card last sat and online It said you are approved for 1000 at 17.74% and 12 mos 0% on purchases and BT.Today the card came and the APR says 20.9 so I called and the csr said it shows 17.74 on her screen. When I apped for the first time it said I was approved and then session timed out so I applied again right then and it said I will recieve a letter in 7-10 days How can I go about this without getting stuck with the 20.9%. I will call them at 7 Am but I could sure use some advice. When I called several days ago the csr said it was 17.74 so now the csr said I would go with the letter you got with your apr that says 20.9%. Why should I?

Re: APR changed from approval to mailing

Anonymous — Mon, 23 Jul 2012 04:00:10 GMT

I would double check and make sure you werent' app'd for 17 plus prime.

Re: APR changed from approval to mailing

jsucool76 — Mon, 23 Jul 2012 04:07:26 GMT

@Anonymous wrote:
I would double check and make sure you werent' app'd for 17 plus prime.

This. It could very possibly be 17.4% plus the prime rate (which is somewhere around 3.25% or something close) which would put you up right around your 20.9%.

Re: APR changed from approval to mailing

ShiningDown — Mon, 23 Jul 2012 13:22:14 GMT

I just called and she said it was 17.74+prime 3.25 = 20.9

You guys were right!

I asked her if she could lower my apr and she said she couldn't because of my debt.

My report is clean so thought I would try.

Re: APR changed from approval to mailing

jsucool76 — Mon, 23 Jul 2012 17:02:56 GMT

Just try to keep your carried balances down so you don't end up paying too much interest.

Re: APR changed from approval to mailing

Repo-ed — Mon, 23 Jul 2012 18:17:56 GMT

Or just PIF and it's exactly like having a 0% apr.

Has worked wonders for me, at least, for the last 4-5 years.

Re: APR changed from approval to mailing

bettercreditguy1 — Mon, 23 Jul 2012 22:50:21 GMT

Don't overspend, and pay in full every month and the APR does not matter. Additionally, as your debt comes down, there is a possiblity that your APR will reduce with payment history time.