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What is your interest rate on your credit cards?

KentDog

KentDog

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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.
 
min0 lee said:
0 % I got rid of them.
Click to expand...

Nice. :thumb:

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%.
 
min0 lee said:
0 % I got rid of them.
Click to expand...
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.).
 
DOMS said:
Nice. :thumb:

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%.
Click to expand...
Best thing I ever did.
 
KentDog said:
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.).
Click to expand...
So do I, but I use my Paypal debit card to do that.
 
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DOMS said:
Compound interest; it's a bitch when it works against you, but it's a god send when it's working for you.

I'm going to start trading options soon and my program will (essentially) include compound interest.
Click to expand...
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

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.
 
I'm afraid of plastic. I try to use unmarked
cash.gif
as much as humanly possible. :hehe:
 
Pianomahnn said:
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
Click to expand...

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.).

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. :)
 
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.
 
I charge people 30% interest or I break their legs....
 
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!
 
largepkg said:
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!
Click to expand...
Ewww...
 
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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