jeffysdad wrote:Hi Hematino and Crashem. I beg to differ on APR for Sapphire. Mine is 10.24% for purchases right now and 19.24% for cash advances, according to my account info. on Chase website.
My Freedom is at 9.24%, and Amazon is at 13.24%. For these the cash apr is also 19.24%. My newest Chase card, PriorityClub, has a purchase apr of 15.24% now.
Crashem wrote:Money Card,
We keep having this argument. But you confuse the situation. Your examples are selective and you are using incorrect facts.
For example, Freedom card can have initial APR as low as 12.99% while the Chase Sapphire Preferred is always 15.24%. Basically kills your argument. Freedom can have 20ish% for bad credit but down to 12.99% with good credit Yes Sapphire targets people with excellent credit. According to your reasoning, cards with lower interest are harder to get so Freedom must be harder which is not true.
The fact is most times APRs are set around the the kind of benefits the card provides. The more benefits, the higher the APR. Go do your research and compare. You will see my reasoning is more consistent.
The 2nd faulty logic you have is that since Amex Plat has no interest, it must be harder to get. You are missing the fact that you have to pay in full. In fact by your reasoning every Amex charge card must be hard to get since you pay no interest on any of them. But it is common knowledge that the Zync is by far the easiest card from Amex to get. Stop listening to Amex marketing hype. Yes they are targetting richer people with the Platinum, but the real reason is that who is willing to pay the high annual fee.
The reality is that AMEX issues its cards on credit standards on their risk as any responsible lender should. Since the risk for AMEX charge cards (all of them including platinum) is less risk than AMEX credit cards to AMEX, AMEX charge cards are easier to get than AMEX credit cards.
Go do your research on the web. Basically NO ONE AGREES with you. EVERYONE pretty much thinks the Blue Cash Everyday/Preferred is harder to get than Amex charge cards. In fact, people recommend getting an AMEX charge card to get in the door with Amex since it is easier to get. Build history with Amex then app for the Blue Cash card as Amex values your history with them highly.
jeffysdad wrote:Hi Hematino. I opened the Sapphire as soon as it was offered. I got a promotional mailing and responded to that. This was a month or so before you really started to see the card advertised. There was no sign-up bonus at the time, so I would have been better off if I had waited.
The website says my Sapphire rate as of 04/04/2010 is 10.24% for purchases. This sounds to me to be about the time that I opened the account.