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Sportsman' Guide Visa APR Increase

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Moderator

Re: Comenity Total Rewards Raising APR notice


@MASTERNC wrote:
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.

I got the email this morning on my BJ's card, too.  The only time I ever carried a balance on it was when I had a 0% balance transfer offer with a 1% fee, so fortunately it doesn't really matter.  @MASTERNC can you product change yours to the Elite Perks card?  That's 5% back in rewards and you also get a $25 statement credit each year toward the $100 membership fee.  The only annoying thing I discovered is that you don't get the standard 2% back on your BJ's account for that membership tier if you use another payment method.


Message 21 of 31
Established Contributor

Re: Sportsman' Guide Visa APR Increase


@AverageJoesCredit wrote:

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


You close the SOB.  You apply for a new card with a high starting limit wth a low APR, according to your excellent credit.

 

Comenity was my second girlfriend.  She started out with high APRs.  She grew exponentially.  Those high limits allowed me to start out with other high limits.  As a new credit seeker I had to take whatever I could get.  Now I am established can make my own demands.

 

My Total Rewards is still at 20.99% so I can keep that for BTs.  You play with APRs by closding your trashy cards for brand new ones.  Unfortunately, there are very few cards with APRs around the 10% range so I can just keep the other 8 for now and wait on rates to drop again (or join another CU).

 

NFCU is at 10.25%.  CapOne Venture One is at  12.74%.  Discover IT 13.99%.

 

Edit:  Looks like the Total Rewards shot up to 26.99% also.  Guess I have a decision to make as to which one of the two I will close.

 

Was looking at an Old Navy credit card yesterday (Synchrony).  They are over 28% now.

Message 22 of 31
Regular Contributor

Re: Sportsman' Guide Visa APR Increase


@CreditCuriosity wrote:

@Dinosaur 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. Smiley Frustrated


@Dinosaur 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.


@CreditCuriosity, my notification says transactions made before 7/21/19 will have the Current Rate Apply and transactions On or After 7/21/19 will have the new rate applied.

Message 23 of 31
Established Contributor

Re: Sportsman' Guide Visa APR Increase

Y'all keep an eye on your Blispay cards.  That 19.99% APR is in jeopardy since Comenity bought the company.  It's not a good time in the credit world right now.  Imagine this.   6 month promos all came to an end and then you get word your APR on your remaining balance skyrockets.  You now can't transfer your balance to another Comenity card.  I did a BT twice from Blispay to Comenity about 2 years ago.  I have since close the Blispay card.

Message 24 of 31
Moderator Emeritus

Re: Sportsman' Guide Visa APR Increase

@CreditContractor... can't believe you would close the 'Blispay' Card. They need people to support Comenity so they can pay the acquisition debt! Smiley Indifferent

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Message 25 of 31
Frequent Contributor

Re: Comenity Total Rewards Raising APR notice


@K-in-Boston wrote:

@MASTERNC wrote:
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.

I got the email this morning on my BJ's card, too.  The only time I ever carried a balance on it was when I had a 0% balance transfer offer with a 1% fee, so fortunately it doesn't really matter.  @MASTERNC can you product change yours to the Elite Perks card?  That's 5% back in rewards and you also get a $25 statement credit each year toward the $100 membership fee.  The only annoying thing I discovered is that you don't get the standard 2% back on your BJ's account for that membership tier if you use another payment method.


I find myself going to Costco more than BJ's these days, so not sure upgrading is worth it.  In any case, I might keep the card open and just use the membership barcode at the store (but not the credit function).

Message 26 of 31
New Contributor

Re: Comenity Total Rewards Raising APR notice

I received an email asking me to login to my two year closed account and saw the same. Was surprised I am still in the system.
Message 27 of 31
Community Leader
Super Contributor

Re: Sportsman' Guide Visa APR Increase


@CreditContractor wrote:

@AverageJoesCredit wrote:

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


You close the SOB.  You apply for a new card with a high starting limit wth a low APR, according to your excellent credit.

 

Comenity was my second girlfriend.  She started out with high APRs.  She grew exponentially.  Those high limits allowed me to start out with other high limits.  As a new credit seeker I had to take whatever I could get.  Now I am established can make my own demands.

 

My Total Rewards is still at 20.99% so I can keep that for BTs.  You play with APRs by closding your trashy cards for brand new ones.  Unfortunately, there are very few cards with APRs around the 10% range so I can just keep the other 8 for now and wait on rates to drop again (or join another CU).

 

NFCU is at 10.25%.  CapOne Venture One is at  12.74%.  Discover IT 13.99%.

 

Edit:  Looks like the Total Rewards shot up to 26.99% also.  Guess I have a decision to make as to which one of the two I will close.

 

Was looking at an Old Navy credit card yesterday (Synchrony).  They are over 28% now.


HaHa, ok CCR, sounds goodSmiley Wink.  Its actually a nice plan . Once you achieved what you want, this allows you to play a bonus level. Dang your post make me want swoon Miss DiscoSmiley Happy

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Message 28 of 31
Regular Contributor

Re: Sportsman' Guide Visa APR Increase

It is a bit misleading to continue accepting applications that have the terms and conditions with the tiered APR rates and the “new” rates for existing card holders is higher than even the “HIGHEST” currently offered rate of 25.24%. Feels a bit of bate and switch to me. 

Message 29 of 31
Moderator

Re: Sportsman' Guide Visa APR Increase


@CreditContractor wrote:

 

...You apply for a new card with a high starting limit wth a low APR, according to your excellent credit.... You play with APRs by closing your trashy cards for brand new ones...


APR is seldom equal to a card's worth.  I have numerous cards with substantially higher APRs than my NFCU cards at 10-11%, but their rewards return is much better in every instance.  When it can be avoided, most of us here are savvy enough to know not to carry balances on cards with 25%+ APRs.  Store cards aren't all trashy cards; there are 7 of them in my signature that give me better discounts and/or 0% for ages, that my low-APR credit union cards don't do and none of my $400+ AF cards do.


Message 30 of 31
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