Lowest possible Apr?

Kevin86475391 · ‎03-11-2016

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.

Creditaddict · ‎03-11-2016

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!

SunriseEarth · ‎03-11-2016

@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.

Kevin86475391 · ‎03-11-2016

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

Bam! Reputation rekt!

LShawn08 · ‎03-11-2016

@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.

Starting Score:TU:791(Dec3), EX:783, EQ:000
Current Score: TU:786(Aug9), EX:776, EQ:782 (Aug8)
Goal Score:820 across all boards

If all pork chops were perfect, we wouldn't have hot dogs! -Steven Universe

SunriseEarth · ‎03-11-2016

@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.

Anonymous · ‎03-31-2016

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?

galahad15 · ‎03-31-2016

@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