My interest on both of my cards has been voluntarily lowered by the CC companies during the past year. Why are they giving me lower A.P.R. it can't be out of the 'goodness of their heart' so I'd like to know what is going on here. My parents have said the same about their cards too. Doesn't this contradict the economy? I thought interest was going up on everything.
1. You have good credit... with small balance. CC companies do not want to lose you to another CC company, via balance transfer (you're giving liquidity in this credit crises)
2. They are doing a switch and bait move... changing your interest rates from a fixed rate to a variable rate. Currently the variable rates are lower then the fixed rates... just watch when the new administration comes in and jacks up the interest rates to control inflation.
3. Another bait and switch... they changed the terms on your default, late, and any other fees to protect themselves "jsut in case" you default
Users browsing this forum: No registered users and 1 guest
The credit card offers that appear on this site are from credit card issuers from which CreditCardForum.com receives compensation. This compensation may impact how and where products appear on this site, including the order in which they may appear within listing categories. CreditCardForum.com does not include all credit card offers that might be available to consumers in the marketplace.
Editorial Disclosure Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
User Generated Content Disclosure Forum member posts, comments and responses are not provided or commissioned by the bank advertiser.
Responses have not been reviewed, approved or otherwise endorsed by the bank
advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or
questions are answered.