Sportsman' Guide Visa APR Increase

[kdm31091]

To me, every card has a purpose. Some cards in your lineup may be better for carrying balances; some are best for just the benefits and have outrageous APRs. Whether it's 20% or 26% is really irrelevant as you wouldn't want to carry a balance on either. I understand it feels insulting, but they're just hoping to trap unknowing consumers into paying more interest.

If you have other cards with lower APRs (and I'm sure you do!), use them for emergency situations or whatever, and just use this one for the benefits it gives.

Also was curious and called them across the board at least on WS cards.. Assume it is that way on most if not all major comenity cards

[CreditCuriosity]

@kdm31091 I agree it is just the principle of having excellent credit then them making a radical change on multiple fronts is all.  Different credit risks should indeed have different APR's which most lenders have although albeit most of them are high and anybody in their right minds would never carry a balance on them.  I certainly wont close it as it has the best BTof any card out there.  They jacked my rate 10+% lol

[AverageJoesCredit]

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@Anonymous wrote:

Well, I got every last card I ever wanted.  Then came the $20k limits.  Now I am a snob when it comes to APRs.  I think it's bad advice to give to people about don't worry about APRs as long as you PIF.  Tragedy and emergencies are unpredictable.  Just take a look around at the gazillions of My-FICO'ers who have declared bankruptcy.

I don't like cards above 15% APR.  Has nothing to do with the easy response of PIF and you ever have to worry about it.  The APR is the last and only factor I get to play with as a mature, seasoned, intelligent credit consumer.

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How do you play around with an Apr that has no room for playability?  Comenity doesnt lower Aprs.

[torebuild2014]

I just received notification that Comenity is rasising my APR from 19.99 to 26.99. Credit Limit is 25k, scores all above 780 on all three bureaus, above when I qualified for the card. Not a lot of use on the card, but small activity every month or every other month. As such it is inconsequential, just annoying. 

Anyone else receive this notice????

[Anonymous]

There was a thread posted about the Sportmans Guide VISA yesterday getting the same hike, it’s likely spreading too all of Comenity’s majors. 

[torebuild2014]

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@CreditCuriosity wrote:

Speaking of the devil I went from the best tier APR to 26.99.. Just got a SM from them wth.  They get rid of tiers now?  I spoke to soon a few post back.. going to look at terms for new cards.

edit also other terms changed such as minimum payment and possibly other stuff..  Logged in application page and still shows tiers of apr's not sure if that hasnt been updated to one yet?

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I just posted that I received a SM regarding my Comenity Total Rewards card with a APR increase from 19.99% to 26.99%. I was referred to this thread from my inquiry. I totally missed the “minimum payment language”. The increase definitely startled me and I immediately went to check my scores to see if something had happened to my profile that I wasn’t aware of that was causing an adverse action. 

I don’t put large purchases on the card or carry a balance, but it still annoys me. I have 25K limit on the card and due to low usage don’t ask for increases anymore. The limit will be one of the reasons for keeping the card alive. 

[torebuild2014]

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@Anonymous wrote:

There was a thread posted about the Sportmans Guide VISA yesterday getting the same hike, it’s likely spreading too all of Comenity’s majors. 

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Thank you for your reply Saeren and the thread reference.

I was totally caught off guard with the increase as this was and is an unexpected turn of events. My initial thoughts was that something happened in my credit profile, but it appears that is not the case. My SO also has the card and at least I can give a heads up.

[Anonymous]

@CreditCuriositymust be a drastic change in your credit file? Hmm ... Equifax must have been helping you? Or, I am just stirring the pot as I spent some considerable time trying to track down an Apr for the card and it was well hidden.

[CreditCuriosity]

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@Anonymous wrote:

@CreditCuriositymust be a drastic change in your credit file? Hmm ... Equifax must have been helping you? Or, I am just stirring the pot as I spent some considerable time trying to track down an Apr for the card and it was well hidden.

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@Anonymous nah everyone was hit by it.  My score is around 790's on eq.  One APR for all.  I feel bad for people that have balances as believe they inherit the new 27% apr July 24ish, forgot what the date it becomes effective.  Appears across all the major comenity cards.

[MASTERNC]

Same with BJ’s. Mine is going up nearly 10 percentage points. Given I have a card with a 2.5% cash back rate (and I only use this card at BJ’s), I’m thinking of sock drawering this one if I can find my original membership card.