What do you think of 19%? I'm 24, never had a credit card, about to return to school for a master's. This card is Capital One, no annual fee, interest rate of 19.8% variable. It seems okay to me, what's your opinion?
2006-11-13 12:49:48 · 8 answers · asked by starfishblues 4 in Business & Finance ➔ Credit
19% is high. Try to find one between 10-15%. Once you build credit it goes down to 5-8%. So keep the credit card you have now but open other ones too. Never close accounts it lowers your credit score. My first card was Capital One. Try Citi, their rates are more competitive.
2006-11-13 12:52:18 · answer #1 · answered by Lami 3 · 0⤊ 0⤋
19% is a lot, you must be careful and read the contract, there are many credit cards that are nothing more than loan sharks, they pull out the money from people's pockets, interest, fees, whatever the think of, I think if you find one at 15% is fair for the first one..âº
2006-11-13 12:53:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
19% seems high to my. Here's a link which will let you compare credit cards by the company and interest rate.
2006-11-13 13:41:27 · answer #3 · answered by Mariposa 7 · 0⤊ 0⤋
For a first credit card, that's pretty decent. Take it and build up
your credit. Three good hints - 1) DON'T BE LATE - pay on line
or by phone if you have to. 2) DON't MAX IT OUT. 3) PAY more
than the minimum - better yet pay balance due. Good luck.
2006-11-13 12:57:34 · answer #4 · answered by wallyinsa 3 · 0⤊ 0⤋
Seems reasonable. That's not to say there's not a better deal out there. If that's not where you bank - I'd check w/ your bank first. Your history w/ the bank may save a point or two.
Careful with that first CC - the debt can sneak up on you!
2006-11-13 13:06:45 · answer #5 · answered by Jayinem 5 · 0⤊ 0⤋
I once knew a friend who had 21% as his first card.
Mine was also in the 19 range but it was my first card and so far its gone okay and they have lowered my rate and raised my limit.
2006-11-13 12:59:42 · answer #6 · answered by Robert B 4 · 0⤊ 0⤋
19.8% is a ridiculously high rate to pay to borrow money.
If you are planning on paying your bill off in full each month then the interest rate doesn't matter.
2006-11-13 13:17:18 · answer #7 · answered by Phil O' Brien 3 · 0⤊ 0⤋
thats very high, there are some cc that only have 6%
go here to compare them
http://www.bestcreditrates.net
2006-11-13 14:50:57 · answer #8 · answered by Anonymous · 0⤊ 0⤋