- Gold Member
- Posts: 34
- Joined: Thu Sep 19, 2013 7:53 am
- Location: California, US
I saw the paperwork from mine just a couple days ago.
2008, Capital One Platinum. $300 limit, 12.9% APR with a 0APR promotional period. I don't think they asked for income - I guess that limit was low enough they decided it wasn't a meaningful question.
I don't think I ever actually saw the 12.9% - by the time my 0APR had expired the banks were going nuts. I think it was 15.9 for a while, and later got jacked to 17.9%, where it sits today. With a $500 limit of course (same old story).
But it's funny, the original terms were Prime+7.something = 12.9%. That was with no credit history that I'm aware of. I can't even get that today, with score in the high 700s. My limits on newer cards are higher but my lowest APR is still 14.99%.
I went quite a while not wanting a credit card. I'm just glad that when I finally applied for one, I did it before the financial panic had hit. If I'd waited a few months longer, it would have been a lot harder to get in. I would have rejected any secured deal.
Even after getting that card, I didn't care about building credit as much as I should have. I didn't add a 2nd card until just 1 year ago, and the 3rd and 4th were very recent.