Reply With Quote0 % I got rid of them.
What is your interest rate on your credit cards?
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02-19-2007, 09:42 AM #1Yuppie
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What is your interest rate on your credit cards?
I'm not sure if my APR is considered high or not for having a good FICO score. I was under the impression that your FICO score and lines of credit open were what determined your interest rate. I've never missed a minimum payment, but I don't always pay in full. I haven't had my FICO score checked in a while, but I assume it's in pretty good standing. Last I checked it was near 800. My interest rate on my cash back rewards card is 14.025% APR, with a $9,800 credit limit. I have three lines of credit open, but have had more in the past which have been closed.
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02-19-2007, 09:51 AM #2Senior Member ELITE MEMBER
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02-19-2007, 10:03 AM #3cat burglar
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No strength within, no respect without - Kasmiri Proverb
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02-19-2007, 10:07 AM #4Metrosexual ELITE MEMBER
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Nice.
Originally Posted by min0 lee
I have two left for a total of $1000 that I'm about to pay off. Then I'll be credit card free. Oh, and the average interest rate is about 12.5%.So many cries of inequality stem from one of group
of people doing little or nothing and then bitching
about another group that actually does something
to improve their lives.
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02-19-2007, 10:08 AM #5Yuppie
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Not an option for me. I like to shop online and I get rewards on my cards. Eventually down the line I'm going to want to make some big purchases (house, car, etc.). Originally Posted by min0 lee
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02-19-2007, 10:11 AM #6Elite Kiki ELITE MEMBER
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Originally Posted by Bakerboy
Total ownage. Originally Posted by kbm8795
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02-19-2007, 10:11 AM #7Metrosexual ELITE MEMBER
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Pay it off each month. Originally Posted by KentDog
So many cries of inequality stem from one of group
of people doing little or nothing and then bitching
about another group that actually does something
to improve their lives.
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02-19-2007, 10:11 AM #8Senior Member ELITE MEMBER
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Best thing I ever did. Originally Posted by DOMS
Nice.
I have two left for a total of $1000 that I'm about to pay off. Then I'll be credit card free. Oh, and the average interest rate is about 12.5%.
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02-19-2007, 10:13 AM #9Metrosexual ELITE MEMBER
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Compound interest; it's a bitch when it works against you, but it's a god send when it's working for you. Originally Posted by min0 lee
I'm going to start trading options soon and my program will (essentially) include compound interest.So many cries of inequality stem from one of group
of people doing little or nothing and then bitching
about another group that actually does something
to improve their lives.
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02-19-2007, 10:14 AM #10Senior Member ELITE MEMBER
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So do I, but I use my Paypal debit card to do that. Originally Posted by KentDog
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02-19-2007, 10:20 AM #11I bike to work.
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That all assumes your options trading works out as planned. Even the most seasoned investors can fail miserably at times. Originally Posted by DOMS
But hell, if you have the cash to play with, go for it. Options can be very, very rewarding. <3
I just investigated the rate on my cards last night. I was going to put about $2k on one for a laptop and wanted to make sure it was on the lowest one. Of course, I do plan on paying this off immediately, but just in case...
It is ~10%. I have another at like 19%, but never use it. Only have it open because it's old credit, and old credit is good. All in all, I have 4 credit cards, 1 is my primary use, 1 is my Shell gas card, the other is kept because the company gives me free monthly FICO scores, and the last is that old credit I mentioned.
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02-19-2007, 10:22 AM #12cat burglar
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I'm afraid of plastic. I try to use unmarked
as much as humanly possible. 
No strength within, no respect without - Kasmiri Proverb
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02-19-2007, 10:23 AM #13Smartass anthropologist ELITE MEMBER
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My interest rate is 0.0% in this thread.
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02-19-2007, 10:35 AM #14Metrosexual ELITE MEMBER
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I've been studying the market for over the past year and half. I'm currently creating a trading program that covers all of the bases (preservation of capital, diversification, having an edge, etc.). Originally Posted by Pianomahnn
That all assumes your options trading works out as planned. Even the most seasoned investors can fail miserably at times. But hell, if you have the cash to play with, go for it. Options can be very, very rewarding. <3
Everyone that I've explained my program to has expressed an interest in putting money into the fund. Which is exactly what I don't want to do.
So many cries of inequality stem from one of group
of people doing little or nothing and then bitching
about another group that actually does something
to improve their lives.
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02-19-2007, 11:01 AM #15I bike to work.
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I've got $4, what can you do with it? If you can promise me a beeeelion percent gain, you can have it. I know it's a lot of money to start off with, but I have faith.
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02-19-2007, 11:14 AM #16Metrosexual ELITE MEMBER
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Well, I have some spare change, so I could get 4 things off the Wendy's value menu. Originally Posted by Pianomahnn
So many cries of inequality stem from one of group
of people doing little or nothing and then bitching
about another group that actually does something
to improve their lives.
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02-19-2007, 12:09 PM #17I bike to work.
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Sweet! Jr bacon Cheeseburger?!?!?1
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02-19-2007, 12:24 PM #18Metrosexual ELITE MEMBER
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...and a medium fries, and two chicken nuggets (with 4 sweat and sour sauces). Originally Posted by Pianomahnn
Mmmmmmmmm...
Damn, time to take my hoodia.
So many cries of inequality stem from one of group
of people doing little or nothing and then bitching
about another group that actually does something
to improve their lives.
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02-19-2007, 12:25 PM #19fiendish thingy ELITE MEMBER
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Originally Posted by goob
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02-19-2007, 04:25 PM #20Bohemian Extraordinaire ELITE MEMBER
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I charge people 30% interest or I break their legs....
Coarse edged youth, the irish pendants string from their smiles
not yet plucked as to slacken the seams
and drag down the features of age,
no folds or creases from unkempt wear
eyes of tranquilty, crystalline-beads
no sign of despair in their hair, nor their hearts
but oh they have yet to be experienced and that makes aging so very worth it...ML circa2012
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02-19-2007, 05:15 PM #21Seņor Member ELITE MEMBER
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Originally Posted by goob
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02-19-2007, 05:29 PM #22Registered User
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I got rid of all mine except one - it's at 7.9%
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02-19-2007, 06:03 PM #23Dookie
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I have a few old ones (with no balances) but only use one. It's my capital one miles card. This one is around 12% but it never has a balance on it.
Credit card debt is the worst debt you can have. Make it your priority to pay this off first!
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02-19-2007, 06:08 PM #24Senior Member ELITE MEMBER
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Ewww... Originally Posted by largepkg
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02-20-2007, 07:49 AM #25Windy City ELITE MEMBER
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I've used them in the past but I don't have a balance on the 3 cards I do have.
Occasionally I do use each card for a small purchase that I pay off at the first bill just to keep them "active."
The credit card companies are pretty powerful and have lobbied Congress to pass laws that favor them (raise usury limits, etc).
The rate ceiling the companies charge comes from the states there the CC company is located, not where you are.
If there is one positive thing about CCs (if ya pay them off every mont) is that you can keep track of what you spend (the bills/receipts) and accumulate miles.
But I do think they are dangerous because they nake piling up debts, painless and easy.
And once we have a certain amount of CC debt it's hard to pay off in a short period of time.
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