Recent Topics
99 honda accord
by FT92. 10/16/18 02:26 AM
On The TD42 Safari.
by Silk. 10/16/18 02:23 AM
High Fuel Dilution
by Spetz. 10/15/18 11:52 PM
Northern Lights 6K Genset Rot T4 200Hrs OCI
by nicklx. 10/15/18 11:00 PM
2015 VW JETTA 1.8T TOP OF PISTON PHOTO
by Kjmack. 10/15/18 09:48 PM
Suggestions for 2009 Toyota Highlander
by suedebskillz. 10/15/18 09:38 PM
Updates to my 2002 3/4 Ton Chevy
by ls1mike. 10/15/18 08:43 PM
2019 VW Passat Reveal China
by gregk24. 10/15/18 08:16 PM
Subaru supercool is there an alternative
by urdrwho. 10/15/18 08:10 PM
Generic Toner
by willbur. 10/15/18 07:50 PM
1994 Jaguar XJS Tuneup Questions.
by Serolim. 10/15/18 07:49 PM
Pickup Truck Door Freezing Shut
by CCI. 10/15/18 07:01 PM
Help with window well drainage
by Klutch9. 10/15/18 06:31 PM
Nissan Murano Owners
by RazorsEdge. 10/15/18 06:27 PM
Dealing with my younger sister
by skyactiv. 10/15/18 05:58 PM
Jeep TJ Running Rough Before & After Repairs
by Auae85. 10/15/18 05:54 PM
RIP Paul Allen
by PimTac. 10/15/18 05:34 PM
Matches and gasoline
by jhellwig. 10/15/18 05:14 PM
PARTS MASTER #61334 CUT OPEN
by 53' Stude. 10/15/18 04:38 PM
CHAMP PH 2867 CUT OPEN
by 53' Stude. 10/15/18 04:32 PM
Newest Members
hidesertcouncil, suedebskillz, TheDirtyScreech, briantn, AL5M
66219 Registered Users
Who's Online Now
28 registered members (87sammy, Chris142, alarmguy, Bjornviken, CB900F2, bmod305, 1 invisible), 953 guests, and 29 spiders.
Key: Admin, Global Mod, Mod
Forum Statistics
Forums67
Topics292,024
Posts4,872,741
Members66,219
Most Online2,440
Oct 15th, 2018
Donate to BITOG
Previous Thread
Next Thread
Print Thread
Hop To
Page 1 of 3 1 2 3
What's a Good Credit Card Rate? #4753011
05/10/18 01:07 PM
05/10/18 01:07 PM
Joined: Jul 2012
Posts: 2,121
Nashville, TN via Memphis
john_pifer Offline OP
john_pifer  Offline OP
Joined: Jul 2012
Posts: 2,121
Nashville, TN via Memphis
Just noticed that my credit card rate is 16.49%. I don't believe it started out that high, years ago, when I first got this card. There's no reason for them to have gone up - I've never been late on a payment, and I usually pay it off every month, but I'd still like it to be lower, just in case.

I noticed it when they recently changed the app and added a feature that lets you easily see the purchase APR.

I've never been late on anything, and, last time I checked my score, over 2 years ago, when I got my WRX, I was 800+.

So, what's a good rate? Shouldn't my company lower it if I call and demand it? I would think it should be well under 10%.


16 WRX - PPPP
07 Tacoma V6 - M1 EP 5W-30, Fram Ultra, 10K OCIs, 198K
07 Yamaha R1 - Rotella T6 5W-40, Bosch 3300
07 Yamaha YZ-250, Klotz, Rotella

Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753018
05/10/18 01:12 PM
05/10/18 01:12 PM
Joined: Nov 2008
Posts: 12,678
NH
supton Offline
supton  Offline
Joined: Nov 2008
Posts: 12,678
NH
If you're never late, does it matter?

I'm not sure what it takes to get a good credit rating score, but I thought keeping the same card for years helped. So I've never done the game of swapping cards--just pay off & not worry about what the rate is.


2011 Toyota Camry, base, 2.5L/6MT, 163k, hers
2010 Toyota Tundra DC, 4.6L/6AT, 144k, ours
1999 Toyota Camry LE, 2.2L/4AT, 190k, his
Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753020
05/10/18 01:13 PM
05/10/18 01:13 PM
Joined: Aug 2008
Posts: 3,213
Where the wind comes sweepin'
Reddy45 Offline
Reddy45  Offline
Joined: Aug 2008
Posts: 3,213
Where the wind comes sweepin'
The rate should be tied to the current prime rate and will fluctuate over time.

Having a “permanent” low rate is unheard of these days unless you have a top tier card for business use.

Last edited by Reddy45; 05/10/18 01:14 PM.
Re: What's a Good Credit Card Rate? [Re: supton] #4753023
05/10/18 01:16 PM
05/10/18 01:16 PM
Joined: Aug 2017
Posts: 60
Mt. Vernon, NY
ssamaroo01 Offline
ssamaroo01  Offline
Joined: Aug 2017
Posts: 60
Mt. Vernon, NY
Originally Posted By: supton
If you're never late, does it matter?

I'm not sure what it takes to get a good credit rating score, but I thought keeping the same card for years helped. So I've never done the game of swapping cards--just pay off & not worry about what the rate is.


It does matter. Just because the OP wasn't late does not mean he paid his balance in full. It means that he paid at least the minimum payment amount on time. The remainder of the balance, if any, is subject to interest.


2015 Fusion Titanium AWD 2.0L Ecoboost 103k
2012 Escape Limited 2.5L Duratec 42k
2000 E-250 4.2L 90k
MC FS W/ MC Filters
Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753024
05/10/18 01:17 PM
05/10/18 01:17 PM
Joined: May 2018
Posts: 110
California
Dave1027 Offline
Dave1027  Offline
Joined: May 2018
Posts: 110
California
The best rate is zero. That's what I pay. Never in my life have I ever paid a dime in credit card interest. I never carry a balance.

Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753025
05/10/18 01:17 PM
05/10/18 01:17 PM
Joined: Oct 2009
Posts: 3,324
Wet side WA
JohnnyJohnson Offline
JohnnyJohnson  Offline
Joined: Oct 2009
Posts: 3,324
Wet side WA
I seriously don't care what their rate is my card is paid off every month. But that must be why my credit score is so bad over 800.


2004 Corolla 125335
Out: VML 5w-30 TG4967 OCI 5007 Miles
In: EDGE EP 5W-30 Bosch 3311 122537 7-18-18
2006 Duramax 74277
Out: T6 5W-40 M1-303
In: T6 5W-40 XG9100 74705 4-22-18
Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753028
05/10/18 01:18 PM
05/10/18 01:18 PM
Joined: Jul 2015
Posts: 3,869
New England
madRiver Offline
madRiver  Offline
Joined: Jul 2015
Posts: 3,869
New England
High rate cards are tied up with great benefits. If you pay it off who cares.

We have the amazon card and get 3% kick on amazon purchases (150 orders per year + prime), 2% on gas, restaurant and drugstores. 1% everything else. Lucky because our home heating fuel is incorrectly setup as gas to them.

Re: What's a Good Credit Card Rate? [Re: Dave1027] #4753029
05/10/18 01:19 PM
05/10/18 01:19 PM
Joined: Dec 2005
Posts: 2,988
The Canyons
02SE Offline
02SE  Offline
Joined: Dec 2005
Posts: 2,988
The Canyons
Originally Posted By: Dave1027
The best rate is zero. That's what I pay. Never in my life have I ever paid a dime in credit card interest. I never carry a balance.


+1

Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753036
05/10/18 01:25 PM
05/10/18 01:25 PM
Joined: Aug 2017
Posts: 546
Nebraska
BJD78 Offline
BJD78  Offline
Joined: Aug 2017
Posts: 546
Nebraska
They go up ... just because they can. Those big bank execs make big $$ on interest and fees from cards. Best way to deny them is to not carry a balance and if you must use the card for example buying airline tickets or renting a car, pay it off before the billing cycle ends. CC companies also often keep their billing cycles well below a 30 day month and will have a 26 day bill cycle to create more late fees. The best thing for a card is probably a scissors, that is what Dave Ramsey says. I believe him. You could probably call and demand that they lower the rate and match the lower rate from company A or you will transfer. Some times they will lower rate sometimes not. They probably do not care if you drop them because they just think that their customer supply is unlimited. worth a try though, the worst thing is that they could say no and then you could transfer to a lower card anyway.


2010 Forester:122K
2009 Sonata :189K
2010 Tucson:55K

OCI 5K using the cheapest dino oil I can buy,usually NAPA or TSC Travelers oil.
Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753046
05/10/18 01:30 PM
05/10/18 01:30 PM
Joined: Jul 2012
Posts: 2,121
Nashville, TN via Memphis
john_pifer Offline OP
john_pifer  Offline OP
Joined: Jul 2012
Posts: 2,121
Nashville, TN via Memphis
I have been paying it off in full, every month. It just irritated me to see that the rate, in case something happened and I had to carry a balance, would be so high.

A quick search revealed a US News & World Report article that listed Simmons Bank as having a card that has an ongoing rate of 9.75%.


16 WRX - PPPP
07 Tacoma V6 - M1 EP 5W-30, Fram Ultra, 10K OCIs, 198K
07 Yamaha R1 - Rotella T6 5W-40, Bosch 3300
07 Yamaha YZ-250, Klotz, Rotella

Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753055
05/10/18 01:36 PM
05/10/18 01:36 PM
Joined: Jul 2012
Posts: 2,374
South Carolina
alarmguy Online content
alarmguy  Online Content
Joined: Jul 2012
Posts: 2,374
South Carolina
9 to 10 percent with excellent credit score would be good for a card.
Good is relative though, it's still insane.
I pay off my cards every month and actually use the higher rate cards for that reason as I get a min of 2 percent cash back on everything I buy and with others cards I have 5 percent back in certain categories.


14 Road King (current)
08 VStar 1300 Tourer
07 Suzuki C50
Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753059
05/10/18 01:38 PM
05/10/18 01:38 PM
Joined: Aug 2004
Posts: 20,022
CA
The Critic Offline
The Critic  Offline
Joined: Aug 2004
Posts: 20,022
CA
I pay my cards off in full. Though I do occasionally use the AMEX plan it feature for very large tool purchases.

I just checked and my Chase Sapphire Reserve card carries a 17.49% rate.


2011 Toyota Prius - 173k - Various 0W-20 (Brew)
2007 Honda Accord 2.4 - 131K - Mobil 1 EP HM 5W-30
Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753069
05/10/18 01:45 PM
05/10/18 01:45 PM
Joined: Aug 2008
Posts: 3,213
Where the wind comes sweepin'
Reddy45 Offline
Reddy45  Offline
Joined: Aug 2008
Posts: 3,213
Where the wind comes sweepin'
Originally Posted By: john_pifer
I have been paying it off in full, every month. It just irritated me to see that the rate, in case something happened and I had to carry a balance, would be so high.

A quick search revealed a US News & World Report article that listed Simmons Bank as having a card that has an ongoing rate of 9.75%.


You are not understanding what is being said. The rate for almost any card is variable and tied to market rates. It may be 9.75 now but it could spike up to 16 or 20 based on the circumstances.

“Annual Percentage Rate (APR) of 9.75% is current as of 4/18/2018. APR may vary. Variable rate APR is Wall Street Journal Prime Rate + 5.00% per annum. ”

Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753075
05/10/18 01:48 PM
05/10/18 01:48 PM
Joined: Sep 2008
Posts: 9,216
Ontario, Canada
IndyIan Offline
IndyIan  Offline
Joined: Sep 2008
Posts: 9,216
Ontario, Canada
I'm pretty sure our cards are 18-19%. But we don't keep a balance on them. I would make sure you have a plan to avoid carrying a credit card balance. We put a line of credit on our property years ago to help with building expenses and have paid it off, but keep it as its the cheapest loan rate we'll ever get.


07 Focus ZXW, 5spd manual, 218km M1 5W30
18 Outback 2.5 CVT 15km 0W20
Re: What's a Good Credit Card Rate? [Re: john_pifer] #4753076
05/10/18 01:49 PM
05/10/18 01:49 PM
Joined: Oct 2002
Posts: 36,409
Great Lakes
Quattro Pete Offline
Quattro Pete  Offline
Joined: Oct 2002
Posts: 36,409
Great Lakes
Originally Posted By: john_pifer

A quick search revealed a US News & World Report article that listed Simmons Bank as having a card that has an ongoing rate of 9.75%.

Just because it's 9.75% today does not mean it'll stay that way tomorrow. Banks run all sorts of promotions to lure in new customers, and once they have you, they jack up the rates.


'02 530i (Edge 0W-40)
'15 Q5 3.0T (Edge 5W-40)
'18 Charger SRT (FF)
Page 1 of 3 1 2 3

BOB IS THE OIL GUY® Powered by UBB.threads™