True the pif mentality and practice , but at the end of the day we all can be a little vain with our credit cards lol. For some the look of the card might cause an emotion, for others the apr, other the limits. We are on a credit card forum as most of us enjoy credit and things related, only so many apps to put in so let the convos abound in every direction i say 
Just received snail mail today from Chase. They've also increased the BT rate from 3% to 5%, along with some other fees. Looks like Chase is trying to recoup the money they've given the CSR folks in sign up bonuses lol. I'd NEVER consider them for BTs. Other CUs and banks beat them easily in that area.
Lol, thanks C$R cardholders
@Anonymous wrote:I have no clue what my APR is either since I will never pay interest ever again. With cash back cards, the cash back is destroyed by the interest rate.
This year I paid something like $1.50 in interest because of a "bank error" on crediting a payment but they refunded the $1.50 and an extra $30 because I threatened them gently and sweetly explaining that if they have bank errors it might be wise to work with the CPFB to correct any computer glitches quickly, lol.
If you're paying interest, it may make some sense for you to make sure you have enough money in savings to cover emergencies, and then check your spending habits to see if it makes sense to be paying for everything you're buying. Just cutting a few spend categories to $0 can save you hundreds or thousands of dollars in the long run by avoiding paying the banks.
@Anonymous wrote:
True but felt i should have gotten a better tier to begin with... only thing i can do is cancel it or SD it at this point.. never would think of floating a major purchase on it... Least I have cards that work for that still..
One thing has nothing to do with the other. Your post is about the rate creep (due to Fed rate changes) yet you say your real issue is the tier you were placed in. What exactly is the point of this post then? Care to update the title and the original post to reflect it...
On the contrary they are related... If i got a better tier when i signed up.. then the rate increase wouldnt bug me as much... And enough of the preaching about PIF.. They didn't want to give me their best offer.. and its gotten worse... At least with a CU they are limited in the APR they can charge... Its the principle of it... No i don't care to update the original post or the topic.. The topic accurately reflects how i feel about it.. You have your priorities and I have mine. Thanks for your insightful input..
@SunriseEarth wrote:
@Anonymous wrote:If you PIF every month, why are you bothered by an APR increase? I don't even look at my APRs and all of my creditors could increase them to 99.99% and it wouldn't impact me at all.
You said yourself that you don't carry balances, so I'm just unclear why this is bothering you to the point where you would possibly SD the card?
As someone with PIF habits, I still like my CCs to have the best terms possible. I think it's best if you have unforseen circumstances, but it may also reflect my progress of my credit portfolio. Yes, in practicality, a high APR isn't necessarily a concern if you PIF, and I see value in considering all benefits of a CC to determine if you benefit. For example, my Sam's Club CC doesn't have a great APR, but I mainly use it for 5% gas and PIF. In my case, the cash back outweights the high APR.
Except I would make the argument that 14% or 20% (typical rewards cards APR's) still don't make any sense when it comes to unforseen circumstances.
Even unsecured PLOC's are still in the 10-11% range commonly currently (and some are offering as low as 6.75% somehow) which are obtainable by the majority of consumers, and there are other options for even prettier people when it comes to fixed rate Visa's and what not. Or any number of CU no-frills cards come to think of it, also around that 10-11% range currently.
To say nothing of consolidation loans which again, many people can get lower than the original APR's stated.
Rewards cards, which the Chase Amazon is, shouldn't realistically ever be used for carrying a balance... I've long preached fiscal defense when it comes to credit building, which includes picking up a low-rate tradeline or two of sufficient size where one can carry a balance if needed. That covers me in the overwhelming majority of unforseen circumstances, as ~45K at 10-11% and even my HELOC at 3.5% and 27K, are all smarter options than leaving balances around at 14%+ and buys me a tremendous amount of run way to find another source of income.
