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Fed Lowers rate

Discussion in 'Credit Talk' started by dave, Apr 18, 2001.

  1. Apr 18, 2001 #1
    dave

    dave Well-Known Member

    All right fed lowers int rate . How soon till we see this trickle down to Credit Cards. ( Don't hold your breath )
     
  3. Apr 18, 2001 #2
    Mirage

    Mirage Well-Known Member

    Just spoke to my brother-in-law about his credit cards and his rates. He told me that Wachovia has lower his rate because of the Fed drop last time around. He also mentioned that he got a "refund" on his balance from this drop. Wachovia quoted the new Fed rate at 8.5%


    Best regards,
    Sam
     
  4. Apr 18, 2001 #3
    creditwork

    creditwork Well-Known Member

    The prime should come down in a few hours. First Union was the first one to lower it the last time.

    http://www.creditsense.com
     
  5. Apr 18, 2001 #4
    dave

    dave Well-Known Member

    With this latest cut, my Nextcard APR will be 7.99! Time to go shopping!
     
  6. Apr 18, 2001 #5
    Dani

    Dani Well-Known Member

    Does anyone know what the prime mortgage rate will be at after this takes effect? Thanks.

    Dani
     
  7. Apr 18, 2001 #6
    GEORGE

    GEORGE Well-Known Member

    Re: Fed Lowers rate~NEXT CARD

    DAVE...Did you get the notice???
    Effective 05/13/2001 rate 9.99% fixed?
     
  8. Apr 18, 2001 #7
    Ron

    Ron Well-Known Member

    Re: Fed Lowers rate~NEXT CARD

    George,
    I always have 9.9 Fixed APR with Nextcard even the prime rate is up to 9%.


    Ron.
     
  9. Apr 18, 2001 #8
    GEORGE

    GEORGE Well-Known Member

    Re: Fed Lowers rate~NEXT CARD

    MINE KEPT ON DROPPING WITH THE PRIME...
     
  10. Apr 18, 2001 #9
    Y.M.

    Y.M. Guest

    Re: Fed Lowers rate~NEXT CARD

    My current nexcard APR is 9.45% ,prime+1.45%.
     
  11. Apr 18, 2001 #10
    Ron

    Ron Well-Known Member

    Re: Fed Lowers rate~NEXT CARD

    George,
    I had a fixed rate with Nextcard with 9.9% APR and they didn't lower my rate when the prime rate is drop. By the way, I don't carry balances with my credit cards except Sears Store card.

    Ron.
     

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