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Home › Forums › Financial Markets/Economics › What is the highest Credit Card APR you are seeing? › ucodegen wrote:@flu I hope

November 24, 2009 at 12:30 PM #486685
Coronita
Participant

[quote=ucodegen] @flu
I hope you are not carrying a balance on that card. Some of the banks are jacking up the rate to try to squeeze you.. and hoping that you don’t notice or protest on the rate. It happened to my S.O. and she called in an complained literally with.. “whats up with this rate change“. They lowered her back down near to where she was. If you have a good FICO and have not been late, they are likely to lower it if you call in and complain.

NOTE: The banks are trying to give themselves headroom before the new credit laws take effect.

http://www.marketwatch.com/story/credit-cards-gouge-consumers-ahead-of-new-law-2009-11-06%5B/quote%5D

Thanks for your concern. I never carry a balance and all my cars are paid in full. Citibank, BofA, and Amex always owes me rebates because I charge everything, and get the bonus cash/credit back.

I just thought it was ridiculous that I’m seeing close to 30-40% APR on these. Man, I can’t imagine folks really living by paying minimum balances on these things.