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Cheesefood

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OK, here's a pisser.

I have good credit. Last I checked, my score was about 711, which is considered good, right? I'm married, own a home, and haven't carried a balance on my credit card in several years. I use it regularly, but pay it in full.

I was looking at my Capital One statement today, and my APR is 12.82%. So I call, and they don't want to offer me a lower rate. I have a lot of points on my card, but I don't want to keep a card that's not going to give me a good rate.

Which cards with good rates and points programs do you use?
 
12.82% is a really good rate. I have good credit for my age and non of my cards are even close to that.
 
My credit score is below 600 right now (damn medical collectors) but my rate at Capitol One is just a little of 14%.

I would think with a 711 score you should be below 10%.

just my 2 cents
 
You'll see lower intro rates, but they change. BoA keeps pinging me with 0% for the first 12 billing cycles, then it jumps to 15.99% for purchases and 19.99% for cash advances.

The one credit card I do have runs less, but it isn't available to the general public.
 
Beerrific said:
12.82% is a really good rate. I have good credit for my age and non of my cards are even close to that.


yea it really is. my credit score is considered very good and Im sitting right where Cheese is on my 2 CCs. Im happy with it
 
Cheesefood said:
I use it regularly, but pay it in full.

my APR is 12.82%.


Who cares what the rate is if you pay it in full all the time. I have very good credit (800) and never get a card with more than 3.99 on it. Right now I have Chase rewards. I would get a card with a super low rate and only use it when you think you may not be able to pay it off for a couple of months. Otherwise, keep using the Cap 1 so you get the benefits, but pay it off after each statement.
 
I know one thing if I ever know I'm going to die soon and have no family left I am screwing over every credit card company I can. They deserve it for charging those kind of rates. The pricks don't like people like cheesefood that actually pay off their balance because they don't make that much off the interest yet they let anyone with horrible credit get one and get in over their head. lol my vent for the day.
 
joshpooh said:
I know one thing if I ever know I'm going to die soon and have no family left I am screwing over every credit card company I can. They deserve it for charging those kind of rates. The pricks don't like people like cheesefood that actually pay off their balance because they don't make that much off the interest yet they let anyone with horrible credit get one and get in over their head. lol my vent for the day.

They are bad for some but def. not for people like me who pay it off. I get money back on my purchases, have instant record for taxes, and don't have to carry cash.
 
You gotta threaten that your going to stop using their card. They aren't going to lower your rate unless they have to to keep you as a customer. I got a 724 and 9.8% on my lowest card, the only one i really use (household bank, the largest issuer of credit cards in the US, i got about 14% on my capital one card). just let them know that they aren't you only option (even if they are).
 
Brewiz said:
Try a Credit Union, mine is 9% at my CU.

9% at my credit union as well. Check around and don't be afraid to tell 'em you'll take your business elsewhere. We just went through this battle with my wife's cards after we got married. She had cards up around 15-17%. Cancelled all of 'em because they wouldn't drop her rates and she had great credit. Got her a card through my credit union now. Just beware of intro rates and make sure to know what the card will do after the intro expires.
 
joshpooh said:
I know one thing if I ever know I'm going to die soon and have no family left I am screwing over every credit card company I can. They deserve it for charging those kind of rates. The pricks don't like people like cheesefood that actually pay off their balance because they don't make that much off the interest yet they let anyone with horrible credit get one and get in over their head. lol my vent for the day.

Creditors will hold claim to your assets (for outstanding debts) when you die before your beneficiaries, so that won't work (some exceptions here). And you might say, "well, I'll just give away all my stuff before I die." But, how do you know when, exactly, you will die? Also, you probably have many more assets than you think.
My point is, that idea has been thought of many, many times before, and I'm sure there are safeguards in place so that companies don't get screwed out of their (your) money.

As for Cheese and his card. I agree that you need to threaten them with cancellation. Call them back and demand a lower rate, if not, cancel. If they still do not acquiesce, then call them back a day or two later and you can reinstate it if you want the benefits. In that case, they didn't call your bluff, but from my experience, when i requested them to cancel, it wasn't actually cancelled. It's like they are holding out for you to use the card one last time.
 
agreed, actually call and say you want to cancel you're card. They'll pull every string they can to keep you as a custumer. I heard somewhere that credit card companies spend around $500 on advertising for every new account they get, so you are worth money to them in more ways than you think.

But really, why do you care if you pay off your ballance at the end of the month. All I care about is what card gives me the best rewards as I never carry a balance. For example, get a card just for your gas, there are some out there that give you 5% back on gas, and at $2.70 a gallon, just think of that as $0.13 off per gallon.
 
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