FNBO APR Hike

[CreditCuriosity]

Sign of the times sadly.  Hopefully inflation goes down in the next several years and we all can have some breathing room.  CC issuers are just passing it on to us whether a big bank or a cu imho.  Prime+rate.   Some do it monthly or quarterly and others do bigger jumps all at once.

[chuckwood]

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@SouthJamaica wrote:

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@chuckwood wrote:

Thanks everyone for your input. Just for giggles I looked at my other cards and the highest apr on all my other cards is 24.74 so the 29.24 is alittle excessive. So then looked at there lowest they offer on new accounts and that is 21.24. So I don't know where they came up with a 9 perent increase. So I called with a level head and asked why and if there was anything that caused the increase. They told me sorry that they are working on adjusting all accounts and they could not change the new rate. So I figured if they are going to play that game I don't want to be apart of it and closed the account.  

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Thanks for letting us know how it all played out.

This is why it's good to diversify.

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Yes I am a big believer in that. I am glad I am blessed enough with other cards and issuers to not to be too heart broken that I cut ties.  

[gdale6]

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@CreditCuriosity wrote:

Sign of the times sadly.  Hopefully inflation goes down in the next several years and we all can have some breathing room.  CC issuers are just passing it on to us whether a big bank or a cu imho.  Prime+rate.   Some do it monthly or quarterly and others do bigger jumps all at once.

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Yup, When I talked with them I told them if this is how you reward responsible cardholders then I have no use for you. Hell, got a Commerce Bank AOPA card not too long ago with a 15% APR so there is no excuse forn FNBO to be doing this other than to anger responsible individuals. Over the last few years they have been getting rid of the things that made them good, no more image cards, no BTs offered since covid other than full boat interest rate of the account, a new site that is a piece of junk over their older one and now this...

[CYBERSAM]

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@gdale6 wrote:

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@CreditCuriosity wrote:

Sign of the times sadly.  Hopefully inflation goes down in the next several years and we all can have some breathing room.  CC issuers are just passing it on to us whether a big bank or a cu imho.  Prime+rate.   Some do it monthly or quarterly and others do bigger jumps all at once.

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Yup, When I talked with them I told them if this is how you reward responsible cardholders then I have no use for you. Hell, got a Commerce Bank AOPA card not too long ago with a 15% APR so there is no excuse forn FNBO to be doing this other than to anger responsible individuals. Over the last few years they have been getting rid of the things that made them good, no more image cards, no BTs offered since covid other than full boat interest rate of the account, a new site that is a piece of junk over their older one and now this...

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Glad I'm not the only one who see it the same way! No more BT offers for a long time and they went away from everything that made them good.

[ptatohed]

I've never, ever taken anything a bank or issuer does "to me" as personal.  In fact, I have very thick skin....  if I like a card, I'm keeping it no matter what an issuer may do.  Raise my rate?  Go for it.  Poor customer service?  I can live with that.  Unintuitive website?  Okay. 

Heck, if AOD or citi came to my house, rang my bell, and kicked me in the nards when I opened the door, I'd still keep their cards.    

[longtimelurker]

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@ptatohed wrote:

Heck, if AOD or citi came to my house, rang my bell, and kicked me in the nards when I opened the door, I'd still keep their cards.    

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Yes, if they rang the bell.   If they broke down the door, well. ...  OK I guess you would still keep them, perhaps with a weakly worded letter to the CEO suggesting, "if it's not too much work (and if it is, forget I mentioned it)" some additional employee anger management training.

[chuckwood]

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@ptatohed wrote:

I've never, ever taken anything a bank or issuer does "to me" as personal.  In fact, I have very thick skin....  if I like a card, I'm keeping it no matter what an issuer may do.  Raise my rate?  Go for it.  Poor customer service?  I can live with that.  Unintuitive website?  Okay. 

Heck, if AOD or citi came to my house, rang my bell, and kicked me in the nards when I opened the door, I'd still keep their cards.    

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If they offer something you can't get anywhere else it might take alittle more to move on but when 10 other banks offer that same thing without the headace or fear that they are going to pull something shady its time to move on. I didn't take it personal as I know I am just a number to them but I am not going to support a bank that rewards what most any other bank would call a good customer with bad practices for no good reason but greed.  

[cws-21]

To be honest, I don't even know what my APRs are on nine of my 10 active cards. For people who pay in full, I am really confused as to why it matters at all. I am only interested in the cash back percentage or points and the benefits. 

[ptatohed]

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@cws-21 wrote:

To be honest, I don't even know what my APRs are on nine of my 10 active cards. For people who pay in full, I am really confused as to why it matters at all. I am only interested in the cash back percentage or points and the benefits. 

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I couldn't agree with you more @cws-21 .  Well, ok, I could.... If you had said "I don't even know what my APRs are....why it matters at all.... and ptatohed is very handsome", I would have agreed with you more.  j/k.  But seriously, I am in the same boat.  I just happen to know my AOD is 7.49% just because, well, it's rare so I know it.  I remember noting my new IHG (not in my sig yet) is in the low 20%s (forgot the exact # already) just because I thought it was kind of nifty that I was approved for the lowest.  But that's all I can tell you.  I don't know any other APRs.

I'll go even further and admit I really don't know most of my CLs.  If the CL more than covers any spend I think I'll ever need for that card, that's good enough for me.  I know I am in the way minority on that one around here.    

[longtimelurker]

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@cws-21 wrote:

To be honest, I don't even know what my APRs are on nine of my 10 active cards. For people who pay in full, I am really confused as to why it matters at all. I am only interested in the cash back percentage or points and the benefits. 

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The usual reason given is "Life happens" which, while true for the living section of MyFico, isn't necessarily convincing, as small differences in APR aren't usually going to make-or-break in extremely expensive emergencies, and in smaller ones, the $ difference isn't going to be huge.

But just as some go after CLIs endlessly, some want the lowest APRs, just in case..

And as your friendly reality check: our behavior is strange to the vast majority anyway.   "You have a credit card, you use it, and you pay some back.  End of.   And people here make SPREADSHEETS?????   Get a life!"