Gold Mastercard with 31.99% APR

[RossMAN]

Yes this is 3 years old but damn isn't that freaky?

The highest rate I ever paid was close to 30% but it was for a personal loan from a "finance company" not a cc. This was also a good 7 years ago when I barely had any credit.

http://www.cardweb.com/cardtrak/pastissues/may00.html

 

[Hammer]

lol that's almost usury

 

[yoda291]

wait, I thought it couldn't get that high?

 

[Fausto]

What. The. Fck?

30% is usury. You should find these people and beat them.

 

[KK]

Originally posted by: Hammer
lol that's almost usury

what's usury?

KK

 

[Fausto]

Originally posted by: KK

Originally posted by: Hammer
lol that's almost usury

what's usury?

KK

Main Entry: usu·ry
Pronunciation: 'yü-zh&-rE, 'yüzh-rE
Function: noun
Inflected Form(s): plural -ries
Etymology: Middle English, from Medieval Latin usuria, alteration of Latin usura, from usus, past participle of uti to use
Date: 14th century
1 archaic : INTEREST
2 : the lending of money with an interest charge for its use; especially : the lending of money at exorbitant interest rates
3 : an unconscionable or exorbitant rate or amount of interest; specifically : interest in excess of a legal rate charged to a borrower for the use of money

 

[Viper GTS]

I get offers all the time in the mail for cards like that.

$500 limit, $49 annual fee, 24.99% interest... Do they think I'm desperate? Stupid?

Viper GTS

 

[Fausto]

Originally posted by: Viper GTS
I get offers all the time in the mail for cards like that.

$500 limit, $49 annual fee, 24.99% interest... Do they think I'm desperate? Stupid?

Viper GTS

Buy a house and you'll start getting pre-approved platinum cards with enormous credit limits and decent interest rates. I guess the figure you now have enough diposable income to really rack up charges once you've purchased a house. I get at least one a day in the mail.

 

[Spooner]

All my credit cards are 0%.

By the time the 0% runs out... i transfer to a new one with 0%.

I'm never paying my debt!

 

[RossMAN]

Originally posted by: Viper GTS
I get offers all the time in the mail for cards like that.

$500 limit, $49 annual fee, 24.99% interest... Do they think I'm desperate? Stupid?

Viper GTS

Do you really want me to answer that?

 

[Vic]

Read the article?
The card was Prime + 14.99%. Prime in 5/00 was 9% so the card rate was 23.99%. The 31.99% rate was the "default" or "punitive" rate for having either 3 late payments in a 6 month period or for being more than 60 days late.

 

[zsouthboy]

above like 21% is illegal here in LA... hmm

 

[Ausm]

Where do I sign up?

Ausm

 

[Marauder-]

Originally posted by: Spooner
All my credit cards are 0%.

By the time the 0% runs out... i transfer to a new one with 0%.

I'm never paying my debt!

Correct me if I'm wrong, but I believe that hurts your credit rating to utilize the 0% APRs.

 

[Viper GTS]

Originally posted by: Marauder-

Originally posted by: Spooner
All my credit cards are 0%.

By the time the 0% runs out... i transfer to a new one with 0%.

I'm never paying my debt!

Correct me if I'm wrong, but I believe that hurts your credit rating to utilize the 0% APRs.

Nope. The inquiries hurt & moving balances around isn't the best, but the 0% in and of itself isn't a problem.

Viper GTS

 

[pyonir]

This should be in the hot deals forum

 

[Marauder-]

Oh yeah - and some of you guys should probably call your CC company and ask if they can offer you a better rate. If you haven't asked before and your rate is obscene, you should be able to get it reduced. Mine is at 8% and the perk of my card before it was acquired was to give me back 3% of that interest at the end of the year. So it's an effective 5%.

 

[TheChort]

Originally posted by: Viper GTS
I get offers all the time in the mail for cards like that.

$500 limit, $49 annual fee, 24.99% interest... Do they think I'm desperate? Stupid?

Viper GTS

When you get stuff like this you should take the return envelope (postage prepaid ), put some junk mail in there, and send it back to them. I usually put a competitor CC company's sign up paper.

 

[zCypher]

I got my first credit card about 7 months ago. $500 limit, 18.5%, no annual fee. After 4 months, I more than tripled my limit to $1700... Still 18.5% and no annual fee. 18.5% hurts a lot more at $1700 than at $500. I thought I learned my lesson with a $500 limit, but I feel a lot better about it after having used and abused it at $1700.

Credit is great if you use it properly. Thanks to having had this credit card, and having a cell phone bill to pay every month - it will now be much easier for me to get my first loan. I'm going to take out $5000. I'm still going to need a cosigner - but next to that, it will be a BREEZE to get that loan - and normally banks are VERY strict about loans. My bro who lives on his own with his gf, both working full time - was rejected for a $2500 loan EVEN with a cosigner. I'll be able to get $5k just like that, simply cause I've built a good credit history.

 

[yoda291]

Originally posted by: Marauder-
Oh yeah - and some of you guys should probably call your CC company and ask if they can offer you a better rate. If you haven't asked before and your rate is obscene, you should be able to get it reduced. Mine is at 8% and the perk of my card before it was acquired was to give me back 3% of that interest at the end of the year. So it's an effective 5%.

this is true. I called discover a week ago saying I wanted to cancel, they dropped me down to 0% for the next 6 mos 10(9.99)% afterwards and raised my limit from 1000 to 2500. With their cashback doohicky, I'm getting paid to spend...kind of.

 

[Dowfen]

Originally posted by: zCypher
I got my first credit card about 7 months ago. $500 limit, 18.5%, no annual fee. After 4 months, I more than tripled my limit to $1700... Still 18.5% and no annual fee. 18.5% hurts a lot more at $1700 than at $500. I thought I learned my lesson with a $500 limit, but I feel a lot better about it after having used and abused it at $1700.

Credit is great if you use it properly. Thanks to having had this credit card, and having a cell phone bill to pay every month - it will now be much easier for me to get my first loan. I'm going to take out $5000. I'm still going to need a cosigner - but next to that, it will be a BREEZE to get that loan - and normally banks are VERY strict about loans. My bro who lives on his own with his gf, both working full time - was rejected for a $2500 loan EVEN with a cosigner. I'll be able to get $5k just like that, simply cause I've built a good credit history.

Unless he had numerous bankruptcies and the cosigner had the same, I find that incredibly hard to believe.

 

[RossMAN]

Originally posted by: pyonir
This should be in the hot deals forum

yeah and watch those damn Ferengi eat me alive?

No thanks.

 

[yoda291]

Originally posted by: RossMAN

Originally posted by: pyonir
This should be in the hot deals forum

yeah and watch those damn Ferengi eat me alive?

No thanks.

you're a nagus, they wouldn't dare.

 

[kt]

Originally posted by: Spooner
All my credit cards are 0%.

By the time the 0% runs out... i transfer to a new one with 0%.

I'm never paying my debt!

Keep applying for those 0% cards.. in the end, you'll end up hurting your credit rating in the end. I don't know how much you're in debt, but unless you owe some ridiculous amount it's not worth it.

 

[halik]

bah,
i have 2 cards form citi,
both with about 11% apr, no annual fee and the line is 2500 for first and 1200 for the second.

<-im 19 btw