When I turned 20 I signed up for a credit card (after lots of research). I got one with a $1,000 limit, and 15% APR, which has since dropped greatly. I paid for my college textbooks with it to the amount of about $500. Soon after, my car broke down and I needed repairs, so I got another one with an $1,800 limit, and 22% APR. I am very conscious with them, right now both cards are completely paid off. Now I am looking to get rid of those for a card with a high credit limit, and low interest, so I will only have one card. My entire credit history (of 2 years) is perfect. Any suggestions?
2007-08-19 03:50:55 · 6 answers · asked by codyz 2 in Business & Finance ➔ Credit
it depends for what: I found interesting information about your answer & credit card options here. http://all-debt-consolidation-loan.blogspot.com/2007/07/chase-credit-cards.html Good luck!
2007-08-20 03:32:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Since you have a perfect credit, as you said, I would suggest Orchard Bank credit card. I am confident that you would be able to obtain a much lower interest rate.
APR of 22% is too high, but, since you have had the credit card(s) for two years - with perfect record, then, you have to be a little cautious as regards closing the account(s). I would instead suggest that you apply for a credit card from the above company - with a very low APR - and transfer the credit limit(s) from the credit card(s) to the one with the lowest APR. Talk to your credit card company for guidance.
About two years ago, I got an APR of 9.9% with a score well below 600 from Orchard Bank. Would you believe that? Yes, it is true. Other credit card companies had, prior to then, offerred APR ranging from 14% and 19%. I am not a staff of the company but because I have benefitted, I thought I should share this information with you. The company could be reached at 1-503-293-403, or, better still, you may log on to: www.orchardbank.com.
Good luck and best wishes!
Derrick
2007-08-19 11:30:41 · answer #2 · answered by NETWORK ADMIN. 3 · 0⤊ 0⤋
As long as those two cards don't have an annual fee, don't close those accounts. When you close them, you close you good payment history.
Normally, if you use a card regularly and pay it in full every month, the credit card company will automatically increase your limit every 6 months to a year. You can also call and ask them to give you a better interest rate. But if you pay in full, the interest rate doesn't really matter.
By the way, most credit cards are getting pretty close to that 15% rate, with the exception of the special promotional offers.
2007-08-19 11:36:40 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
Citi® Bronze®/AAdvantage® MasterCard®is by far the most widely used card. It is essential for regular travelers with average credit. Its reward program gives you an additional mile per $2 spent on the card. You can collect up to 25,000 miles annually, and can be redeemed for flights on partner airlines, hotel accommodations throughout the world, and car rentals. Additional benefits are: zero liability for unauthorized transactions, travel accident insurance and various Internet account associated services. The card does not charge any annual fee. But the drawback is the minimum APR cap for cash advances, set at 19.99%
2007-08-20 09:52:23 · answer #4 · answered by jemmy t 2 · 0⤊ 0⤋
It's time to start looking for a rewards card that will pay you something for using in for your normal spending.
A few good ones are the Chase Freedom, AmEx Blue Cash, and Citi Driver's Edge.
You can use this rewards calculator to see which rewards card will pay you the most for your normal spending profile:
http://www.creditcardtuneup.com/
2007-08-19 22:46:01 · answer #5 · answered by moviegoer_j 3 · 0⤊ 1⤋
JUST GET LOST
2007-08-20 19:50:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋