Skip to main content
No. of Recommendations: 1


All together now -- H-E-double hockey sticks YES!

I got this in the mail:

>> In light of rising interest rates over the past few years and your current rate, the APR on your account is about to increase. Your new rate for purchase balances will be as follows:

17.90% ANNUAL PERCENTAGE RATE



*cough* *sputter* My current purchase APR is 12.90%.

I called and spoke to a very nice man in India. After he assured me that it was nothing that I had done to cause this rate increase on my Platinum account I asked him to pass a message to The Powers That Be: "Do they really think I'm going to want to use the one card in my wallet that will now have highest purchase APR? Are they crazy?!"

I could hear the smile in the voice as he said he would pass on my message.

Since I'm no longer adding to my credit card debt what they do to my urchase APR is a moot point, but their actions still gall me.

shirehobbit





Print the post Back To Top
No. of Recommendations: 0
Save the card for overseas transactions. As long as they keep eating the 1% Visa/MC pass-through the card still has some use.
Print the post Back To Top
No. of Recommendations: 0



>> Save the card for overseas transactions. As long as they keep eating the 1% Visa/MC pass-through the card still has some use.


Thanks, Luker1999!

I do plan on doing overseas traveling again (but this time my trips will be funded with cash). Even if I wasn't planning on hopping over the pond, I have no intention of closing it. After my BT is paid off I will use the card once every six months and pay it off as a non-revolver (this will aid me in my goal of attaining an 800 FICO score. Ultimately I'd like to shoot for 850).

shirehobbit

Print the post Back To Top
No. of Recommendations: 2
I do plan on doing overseas traveling again (but this time my trips will be funded with cash).

You can fund something with cash, but pay for it with credit cards. For foreign travel, this is especially valuable. You will not want to be going to the ATM constantly, so you are usually better off having some local currency and using your credit card for most of your purchases.

As long as you have no balance on the card and you have the cash sitting in your account, you can just pay it off when you return and not face any charges.



(this will aid me in my goal of attaining an 800 FICO score. Ultimately I'd like to shoot for 850).

I guess I have to ask -- why? Once you have your credit in a place where you can get things on the best terms, putting effort into a higher score is, IMO, a waste of time and energy. Get out and do something fun with that time!

Acme
Print the post Back To Top
No. of Recommendations: 1
After my BT is paid off I will use the card once every six months and pay it off as a non-revolver (this will aid me in my goal of attaining an 800 FICO score. Ultimately I'd like to shoot for 850).

I have to agree with the question of why?

An 850 FICO score requires a perfect mix of credit. It will require effort and money. You can have a FICO that obtains the best credit rates without paying interest. Pursuit of 800+ won't be easy, free or provide any benefit but bragging rites.

Once you have a credit score in the mid 700's, what is the value of pursuing increasing it?

I have come to terms with the fact that my husband's FICO is slightly higher than mine and that any effort to increase my FICO score is pointless. When we married, he had been sloppy with his use of credit. Nothing serious, but he had hurt his credit history.

Debra
Print the post Back To Top
No. of Recommendations: 0
>> You can fund something with cash, but pay for it with credit cards.

That is my plan. :)




>> (this will aid me in my goal of attaining an 800 FICO score. Ultimately I'd like to shoot for 850).

I guess I have to ask -- why? Once you have your credit in a place where you can get things on the best terms, putting effort into a higher score is, IMO, a waste of time and energy. Get out and do something fun with that time!

Oh, I'm not going to put any effort into it (I'm just going to keep paying my bills on time). It would be nice to hit 850 (bragging rights), but I'll be happy as long as I stay in the good credit range.

shirehobbit
Print the post Back To Top
No. of Recommendations: 0
Sorry to hear about your rates going up. A long time ago I took to the idea that ALL of the credit card companies and banks are greedy. They might claim they aren't, but I'm not buying it. If their greed bothers you that much, stick to a debit card. Your conscious and bottom line will thank you.



ramseesforever
Print the post Back To Top