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After the recent debacle I had with Chase credit cards I started thinking about the various credit cards I've had so far in my life. Starting out, there wasn't a one that was less than 20% interest, but as time went on, they dropped. Some quickly, some VERY slowly.
Eventually though, I worked all my cards down to below 10%, with the majority of them below 5%. That's why it was such a shock when I found one of my cards raised to 25.25% recently.
I've also heard that this isn't an isolated incident, as credit card companies are starting to raise rates again. So, I thought I'd ask What is your Highest Interest Credit card you currently carry?
My highest current card is; Chase Platinum - 25.25%
Let us know how much and from what company, and we can do a little ad-hoc comparison of current rates.
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May 8th, 2008 at 5:44 am
My highest rate is Discover at 16%, negotiated down from 18%
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May 8th, 2008 at 7:55 am
My credit is now coming up, but was not so great previously. I have a WAMU card at 24.99%. I don't use that card much anymore, as for cards I use, I have my chase rewards that is at 18.49% I believe, but never carry over now that finances are in order for me.
I have never had a card other than intro periods below 14.99% I don't believe. Give it a few years and if I find that I need a card for some strange reason then I will get one lower.
Another question may be limits available. I have chase card that was at $400, I asked for it to be increased and they only put it to $600. I never use that one any more though.
May 8th, 2008 at 8:15 am
Mine 11.7%. But in reality it is 0% since I pay it off each month. I love those credit card rewards!!
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May 8th, 2008 at 11:58 am
Mine is a Capital One card at 21% but it only has a $500 limit on it. My main card (and the only one that I still am paying the balance down on) is from USAA and is at 9.99%.
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May 8th, 2008 at 12:56 pm
Micah's credit card was at 29.9%. But now it's effectively 0% since we have nothing on it!
May 8th, 2008 at 2:06 pm
I have a Bank of America card that's 14.99%. I had one from HSBC that was 24.99% that they wouldn't bring down for me, so I canceled it.
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May 8th, 2008 at 2:48 pm
Although I am a regular credit card user - unlike most, I have no idea what my interest rate is. I can't even remember the last time I paid credit card interest. I guess that means I don't care. Love IT! Paying it off every month makes these items useless.
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May 8th, 2008 at 4:41 pm
We have had a roller coaster of credit cards.
My current highest is Capital One at 19% (or thereabouts). They won't lower it, absolutely no negotiations available. I have tried. But it is my self-designated medical and work reimbursement card only, and I have only paid interest on it maybe 5 times in 4 years.
We had two with USBank, my interest rate was at 18%, hubby's at 32% (over-limit, late payments. stupid guy). We got new ones at the local credit union and my interest rate is at 9.5% and his is 11.25%. We do carry a balance on mine, but are working on paying it off. (They also won't lower the rate any. It is tied to corporate, who sets the rates, regardless of the Fed.) But I like having a credit card at a local institution rather than a "regular" company. They treat me much better. They only charge interest if I have a balance on the day it is due, even if I paid it off the day before it was due, unlike the big companies who use double-cycle billing.
May 10th, 2008 at 7:54 am
I have a Chase credit card that was at 14% and then randomly got upped to 29.9% and that is when I paid it off! Supposedly the reason was a change to my credit report but I didn't see anything there as I monitor it. So, go figure.
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May 10th, 2008 at 4:22 pm
LOL, well... my highest-rate card is my only card (I've been closing them as I've been paying off debt). It's a Bank of America Platinum Visa and the rate is currently at 9%. I just lowered it from 11.4% last winter. This card will be empty and closed next week!!! It's hard to let go of an unsecured $21k line of credit at my fingertips, but after struggling with debt for so many years, it's time to say goodbye to all of the cards! BYEEE!!!
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May 13th, 2008 at 12:31 pm
My highest-rate card is my Chase Visa, at 17.99%. However, I should have it paid off this month! Then I have to deal with a fairly large transfer balance on another card I already had, but it has a zero percent interest rate until next March. I asked Chase many times to decrease my interest rate. They did reduce it to 15% once, and then increased it again two months later. I have a very high credit score (from all of my years accruing and paying on debt, of course), so I'm not sure why the rate is so high.