question about Chase Credit card interest rates ... and opinion on credit limits

[Remedios]

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@Anonymous wrote:

Thank you for your quick reply Remedios.

So if I understand  ... carrying balances (particularly at a high interest rate) just for the benefit of establishing "active credit use" for the purposes of maintaining my FICO score, might not be worth it?

As far as the CLI ... that is a very distant second to the interest rate issue. 

I'm primarily interested in whether my interest rates on the three cards is out of line.

As noted below, it certainly seems that my 29% interest rate on the one card is "punitive".  Would you concur with that?

What is your opinion about the other two (17.24? and 24.29%)?

Also, what would you say someone with my credit score etc (as I noted in my original post) might typically, reasonably expect as an interest rate?

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You dont need to carry a balance. Pay once statement posts. That's all you need. 

29% is very  high, so is  24.29% but irrelevant once card is paid to $0.00. If you need to, get a BT card. Definitely not a card to carry a balance on. 

17.24% is quite reasonable for Chase. 

Interest rate is not determined by your scores only, but overall risk at the time of application. Seeing how you APRs vary, it's indicative of changes in your profile. 

In any case, if you pay your balances, none of that will matter. 

[Anonymous]

Turbobuick ... thank you for noting the rates on your two Chase cards.  That is particularly the sort of data I was trying to find.  And yes, the 29% card does seem *very* punitive.

Anyone else who might be willing to specify their interest % experience with Chase ... I'd be interested; and appreciative, to hear!

[Remedios]

If you need to carry balances, look at CU cards. Plenty to chose from. 

[Anonymous]

@ TheBrad

Nope.  No late payments on anything in ... well ... seems like forever (10+ years).

Thank you for the opinion on the 17% and 20% ...

All of it seems usurious to me ... but then again I have not been paying so much attention to such things untill recently (mea culpa).

[Anonymous]

@ FinStar (or whomever)

I am seeing that my replies to specific contributors comments are not appearing under the posts I am replying to, but ending up at the end of the entire thread (??) ... is this normal? ... possibly my browser? ... or is there a "setting" I'm missing somewhere?

Thanks!

[Anonymous]

@ Remedios

Thank you so much for your comments and advice.  I very much appreciate your expertise!!

[Remedios]

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@Anonymous wrote:

@ FinStar (or whomever)

I am seeing that my replies to specific contributors comments are not appearing under the posts I am replying to, but ending up at the end of the entire thread (??) ... is this normal? ... possibly my browser? ... or is there a "setting" I'm missing somewhere?

Thanks!

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When you hit reply, before you start tying, click on quote. Type under quote 

[Turbobuick]

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@Anonymous wrote:

Turbobuick ... thank you for noting the rates on your two Chase cards.  That is particularly the sort of data I was trying to find.  And yes, the 29% card does seem *very* punitive.

Anyone else who might be willing to specify their interest % experience with Chase ... I'd be interested; and appreciative, to hear!

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As has been pointed out, if you don't carry a balance, the rates could be 100% and not matter. There is no reason to carry a balance to achieve high scores. Lenders want to see a long history of steady payments.

It does seem that Chase finds some risk in your credit, hence the lower CL and higher rates. 

[UncleB]

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@Remedios wrote:

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@Anonymous wrote:

@ FinStar (or whomever)

I am seeing that my replies to specific contributors comments are not appearing under the posts I am replying to, but ending up at the end of the entire thread (??) ... is this normal? ... possibly my browser? ... or is there a "setting" I'm missing somewhere?

Thanks!

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When you hit reply, before you start tying, click on quote. Type under quote 

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+1

How to quote a post:  http://ficoforums.myfico.com/t5/Community-Feature-FAQ-s/How-to-Quote-a-Post/td-p/2603189

(Note that if you're using a mobile browser you may have to change to the desktop version of the site to get the quote option.)

[longtimelurker]

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@FinStar wrote:

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@kdm31091 wrote:

Unfortunately, 99.9% of the time, Chase doesn't entertain APR reductions. You are stuck with the APR you were approved with, regardless of your positive account history, improvements in credit file, etc. They just don't do APR reductions.

As for CLIs, they aren't really known for budging greatly on that, either. You can take a HP and request an increase, but results are mixed at best, trending towards negative (i.e. no approved increase or a stingy one).

Unfortunately Chase basically wants you to take or leave what they offer you - they aren't known as being flexible or accomodating with customers.

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Slight correction/clarification to the above.  Chase will lower APRs to specific account segments on their own (i.e. system) based on periodic account reviews.  And, while they are not a common or popular occurrence on these forums, they do happen to an extent for a variety of products.   As far as customer-initiated requests, those are typically not honored. 

That being said, there's no way of knowing whether the OP could receive such an APR reduction at some point.  If such were the case, then the OP is not really "stuck" with that APR.   There's ways to position a behavior that can eventually yield a better APR.

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This is true, but on the flip side chase will also do system based INCREASES in APRs (for new charges only per CARD Act) if they decide that your existing APR is below their norms.   We see this happen in bursts every so often.