Some posters seem interested in obtaining the lowest possible interest rate, others try to get the highest credit limits. I wonder if most people would rather have a very high credit limit or a very low rate. Personally, I would much prefer the high credit limit. I am glad to pay a higher rate to have the borrowing power I want.
Good question, I think I would go with the lower rate as long as it's a fixed rate that applies to purchases, BTs, and cash advances.
For me, credit is only meant to finance short-term purchases. No major house upgrades, etc.. Won't do that unless I have the cash.. so the lower APR is more important to me.
Well since I am rebuilding my credit I want the highest limit I can get. It helps with credit score to have a low balance with a high limit. The CRAs don't know what rate I'm paying. I only have $1k on an Orchard Bank card now. Once I get into the high limits then I will work on a low rate.
i want both. When you are first starting out with low limit cards, you want the highest limit, the APR doesn't matter because you can't really get yourself too stuck, but when you have a good bit of credit limit (i'm about $45K now) you realize a high APR can bury you quickly. I keep higher APR cards though, why? They have good intro/apr rates. I use them for the intro period, then push them back to my illusive prime+0.9% Citi card when its over. That way alot of my debt is sitting at 1.7%, 3.9%, or 0% and some of it is on my citibank card.
I want both! I usually work on getting the CL increased until I'm satisfied, then I start working on the interest rate.
