To The APR Sensitive, Help Me Understand You

[Anonymous]

Am I the only one who uses low APRs as pick up line?

[MrDisco99]

APR is a direct indication of your creditworthiness.  If an issuer is giving me their max APR on a card, that's an indication that I probably need to improve some things before applying for another card from them.  If they give me a lower APR, that would indicate that they "like" me and I'm likely to be approved if I apply for more credit lines from them.

I may be wrong but that's just how I've interpreted it.

[credit_endurance]

Just to put it in perspective of course in my mind some may agree or disagree. My very first credit card approval was Credit One Bank with a hideous APR of 27.74 varaiable. And then recieved a mailer for First Premier Bank for a whopping " 31.00 APR "  I nearly jumped on it before reading some reviews and of course not knowing anything about this great Fico community. Those where the " darker days" of my credit rebuilding. With some very hard work and invaluable knowledge gained here I have set my profile up to recieve better APR offers. I full well know now that those a predatory type lenders who feed on your misfortunes and hardships. My intentions as always when applying for a credit card is to never carry a balance and PIF but as all well know life happens and those plans can and will often get derailed. It's like Galahad had mention if an emergency arises you have that piece of mind that your interest rate won't be the "factor" doing you in the long run.

[Anonymous]

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@Chickenpotpie wrote:

Lower APR's do in fact matter.  I'm not about points, I don't really put a lot on my cards, at least I don't today. But I'm human and being human, human things happen.  I have a couple of cards with a bit lower APR that I don't tend to use and have as my emergency cards.

I've been known to carry a small balance from time to time.  Not all the time, but sometimes.  I let them make a little money, they're banks after all.  (hell they make it anyway considering).  And then there are some cards that if I use them, they're paid off pronto because the APR's are very high. 

Most of my CLI's have been organic. Personally I hate apping and I hate asking for CLIs.   I have  4 cards and none of them are under 15K limit.   If I were to add it all up 4 cards + paypal credit, a bit over the 100K mark for available credit.  When things fell apart on me way back when, I busted my hump to get back on track, which took a lot of years.  You learn from that or you continue doing stupid stuff.  This board was helpful though you must use discernment to separate the wheat from shaff.

Although according to you I'm doing it wrong, something is working for me if my scores are in the 800's and my UTL is about 1-2%. (or maybe its just my dumb luck )

Bottom line; people vary.    Good APR's for some is the name of the game when carrying a balance is necessary. 

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Thank you for your input!

So in your case, rewards aren't important (if i am reading correctly). If so, I can understand where the APR may be your "game".

Thank you again

[Anonymous]

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@Anonymous wrote:
Am I the only one who uses low APRs as pick up line?

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if i could give 100 kudos I would. Best reason so far!!!  

[UpperNwGuy]

I have more than one credit card.  I always have one with a low APR just in case I need it (although it has been nearly three years since I last carried a balance on any of my cards).  For most of my cards, I focus on the rewards.  I'm interested in earning rewards on these cards, and it doesn't matter to me what the APR is, because I will never be charged that APR, as I will never carry a balance on these cards.  Returning to the original topic, I think the new 2% PayPal card is worth getting (unless you already have the 2% version of the PenFed Power Cash Rewards card or the 2.5% USAA Limitless) despite the high APR.

[MrDisco99]

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@Anonymous wrote:
Am I the only one who uses low APRs as pick up line?

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Guy: "Hey girl... my last card approval was 10 plus prime variable"

Girl: (slams drink) "Let's get out of here..."

[BurgeoningHope]

Like most, I don't care what my interest rate is on my rewards cards, because I never intend to carry a balance. But I've been around the block once or twice and indeed, no matter how careful, Life Happens, and sometimes well in excess of emergency savings. So I'm open to getting a low-interest card for those occasions. It's not nothing - the unused balance keeps util down. It's not a high priority, and I have some rebuilding to do before I get lower-rate offers. But I'll consider it.

[Chickenpotpie]

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@Anonymous wrote:

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Thank you for your input!

So in your case, rewards aren't important (if i am reading correctly). If so, I can understand where the APR may be your "game".

Thank you again

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 I guess you can say my end game is just good solid credit. lower APR's tend to be an indicator of that.  

I don't think the question you asked is wrong, however some of your statements are a bit insensitive though.  I learned a long time ago we all do not start at the same point, and we all don't walk to the same drummer.  It takes all types. 

[Anonymous]

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@Chickenpotpie wrote:

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@Anonymous wrote:

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Thank you for your input!

So in your case, rewards aren't important (if i am reading correctly). If so, I can understand where the APR may be your "game".

Thank you again

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 I guess you can say my end game is just good solid credit. lower APR's tend to be an indicator of that.  

I don't think the question you asked is wrong, however some of your statements are a bit insensitive though.  I learned a long time ago we all do not start at the same point, and we all don't walk to the same drummer.  It takes all types. 

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Nothing is meant to be insensitive. Its one of the negatives of reading random thoughts on a forum, you don't really know the mood of the poster. You can verbally ask someone the same question as you would typing in a forum (or text message, email, etc) and get different reactions.