Discover rate hike.......

Discussion in 'Credit Talk' started by jr, May 23, 2002.

  1. jr

    jr Well-Known Member

    I was looking at Cardtrak.com and noticed that Discover is raising APR's on existing purchase balance to 16.9 APR according to Cardtrak. Read the link below for more info.
    http://www.cardweb.com/cardtrak/news/2002/may/23a.html
     
  2. dogman

    dogman Well-Known Member

    Hey Jr - I read that - nice tactic for someone carrying a large balance....after they reeled in the balance transfer in the first place - hmmm...

    aarrfff - dogman
     
  3. jr

    jr Well-Known Member

    Hi Dogman. Yeah, many credit card companies are jacking up the APR's. I was shocked to learn that Chase non-preferred APR rate went up to 22.99 fixed APR. That is way to high for a prime credit card.
     
  4. GEORGE

    GEORGE Well-Known Member

    THEY HAVE A HUGE SPREAD NOW BETWEEN PRIME AND 16.99%...AND THEY DON'T EVEN HAVE TO PAY PRIME RATES FOR MONEY...

    You can "OPT-OUT"...BUT they will close your account!!!
     
  5. GEORGE

    GEORGE Well-Known Member

    ...then again...there should be NO reason you have to pay 16.99%...or would want to!!!

    If you use the CASH BACK...DON'T PAY INTEREST!!!
     

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