FNBO APR Hike

[cws-21]

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@ptatohed wrote:

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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.   

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I am sure you are a spud, I mean, stud, @ptatohed! I also know my AOD's APR is 7.49% for the very same reason that you mentioned. In addition, I guess I know my FNBO Ducks Unlimited's APR because it was just raised to 24.24% and I just posted about it.

[cws-21]

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@longtimelurker wrote:

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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!"

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I don't see how an APR going from 20.24% to 29.24% will help all that much if life happens. However, I am one of those people who has an Excel spreadsheet, tracks a lot of unnecessary credit card data including my CLIs, and probably needs to get a life too! To each his or her own.

[longtimelurker]

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@cws-21 wrote:

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I don't see how an APR going from 20.24% to 29.24% will help all that much if life happens. 

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Well, the point is when the APR increases, that is why they complain, and close the card, and get one with a lower APR, even if they always PIF.  Because one day they may not be able to.   (That's the justification, not the real reason, which is that the credit card game is fun to those who think it's fun!)

[chuckwood]

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@longtimelurker wrote:

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@cws-21 wrote:

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I don't see how an APR going from 20.24% to 29.24% will help all that much if life happens. 

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Well, the point is when the APR increases, that is why they complain, and close the card, and get one with a lower APR, even if they always PIF.  Because one day they may not be able to.   (That's the justification, not the real reason, which is that the credit card game is fun to those who think it's fun!)

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I am complaining because its not what most would call a normal increase. 9% increase for no reason is ridiculous. 

[longtimelurker]

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@chuckwood wrote:

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@longtimelurker wrote:

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@cws-21 wrote:

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I don't see how an APR going from 20.24% to 29.24% will help all that much if life happens. 

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Well, the point is when the APR increases, that is why they complain, and close the card, and get one with a lower APR, even if they always PIF.  Because one day they may not be able to.   (That's the justification, not the real reason, which is that the credit card game is fun to those who think it's fun!)

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I am complaining because its not what most would call a normal increase. 9% increase for no reason is ridiculous. 

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But if you always pay in full, and assume that you will continue to, why would you care.   Just like if you don't care at all about the appearance of the card (e.g. if like me you always use a mobile wallet) you wouldn't care if the card changed to blue and red polka dots.  Even if both decisions would be far from normal.

[ptatohed]

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@chuckwood wrote:

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@longtimelurker wrote:

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@cws-21 wrote:

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I don't see how an APR going from 20.24% to 29.24% will help all that much if life happens. 

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Well, the point is when the APR increases, that is why they complain, and close the card, and get one with a lower APR, even if they always PIF.  Because one day they may not be able to.   (That's the justification, not the real reason, which is that the credit card game is fun to those who think it's fun!)

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I am complaining because its not what most would call a normal increase. 9% increase for no reason is ridiculous. 

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I'm not so sure it is ridiculous.  I think it is a(n expected) sign of the current times.  

[galahad15]

I also received a RJ on my FNBO 2% cashback rewards cards card just a few days ago, from 16.25% V to 21.24% V.  Thankfully, they haven't (yet) RJ'd my other FNBO card with $85k total CL currently at a 11.50% V APR.  At first I was rather incensed at the RJ on the former card above, but I figured since I had already PIF on it, I would keep it and not close it out.  Not to mention that even if I did hypothetically close it out, it might draw some extra unwanted attention to my FNBO card with the 11.50% V APR... 

[galahad15]

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@longtimelurker wrote:

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But if you always pay in full, and assume that you will continue to, why would you care.   Just like if you don't care at all about the appearance of the card (e.g. if like me you always use a mobile wallet) you wouldn't care if the card changed to blue and red polka dots.  Even if both decisions would be far from normal.

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It's all about fundamental respect and how much a cc lender values my relationship with them as a customer.  If they are RJ'ing me like this, they are essentially or basically telling me that they have little if any value for me as their customer.  Issuers keeping me at a low go-to APR with them, otoh, tells me and confirms for me that they value their banking and financial relationship with me.  If I wasn't worried about them possibly RJ'ing my 11.50 V APR card with them as well, tbh I would have most likely closed them out as well...

[longtimelurker]

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@galahad15 wrote:

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@longtimelurker wrote:

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But if you always pay in full, and assume that you will continue to, why would you care.   Just like if you don't care at all about the appearance of the card (e.g. if like me you always use a mobile wallet) you wouldn't care if the card changed to blue and red polka dots.  Even if both decisions would be far from normal.

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It's all about fundamental respect and how much a cc lender values my relationship with them as a customer.  If they are RJ'ing me like this, they are essentially or basically telling me that they have little if any value for me as their customer.  Issuers keeping me at a low go-to APR with them, otoh, tells me and confirms for me that they value their banking and financial relationship with me.  If I wasn't worried about them possibly RJ'ing my 11.50 V APR card with them as well, tbh I would have most likely closed them out as well...

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OK,I guess that's a difference in viewpoint between us!   I am NOT looking for respect from an issuer, I am looking for a product that I consider of value.    So, if the issuer changes one of the parameters I care about, e.g. going from 5x to 2x, then I re-evaluate and probably close.   I really think it is similar for you, you put great value on a low APR, so changing that changes the perceived value.   But, personally, I wouldn't vliew it as one of respect and relationship, more am I getting the value I need.

[SouthJamaica]

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@galahad15 wrote:

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@longtimelurker wrote:

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But if you always pay in full, and assume that you will continue to, why would you care.   Just like if you don't care at all about the appearance of the card (e.g. if like me you always use a mobile wallet) you wouldn't care if the card changed to blue and red polka dots.  Even if both decisions would be far from normal.

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It's all about fundamental respect and how much a cc lender values my relationship with them as a customer.  If they are RJ'ing me like this, they are essentially or basically telling me that they have little if any value for me as their customer.  Issuers keeping me at a low go-to APR with them, otoh, tells me and confirms for me that they value their banking and financial relationship with me.  If I wasn't worried about them possibly RJ'ing my 11.50 V APR card with them as well, tbh I would have most likely closed them out as well...

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What does "RJ" mean?