Fixed Rate Credit Card Offers
Post subject: Fixed Rate Credit Card Offers
Guest: Board Monitor
Posted: Fri May 20, 2005 10:46 am
This message posted by e-mail request from one of the visitors to our site:
Are fixed rates on cards available and who has them?
Can credit card companies change your APR anytime for any reason. And, the purchases made prior to the new APR, are they now collecting the new rate on those, or just the new ones.
What is the best card with fixed rates?
What is the best low rated card?
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: nativechild48
Credit Expert (100+ Posts)
Post subject: Fixed Rate Credit Card Offers
Posted: Fri May 20, 2005 4:29 pm
Bank of America has fixed on their Platinum Visa as long as your acct. is in good standing, and if you already have a variable rate with them in good standing, just call up the CS and ask for a low fixed rate!
www.bankofamerica.com
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Post subject: Fixed Rate Credit Card Offers
Posted: Sat May 21, 2005 7:38 am
Hey Native! How are things?!?
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: nativechild48
Credit Expert (100+ Posts)
Post subject: Fixed Rate Credit Card Offers
Posted: Sat May 21, 2005 1:40 pm
Not too bad Curtis; today is our 5th wedding anniversay. Did want to say BOA like to see large payments sometimes and if you pay on time you can ask them and they will be happy to work with you.
Guest: Daniel
Post subject: Fixed Rate Credit Card Offers
Posted: Sat May 21, 2005 6:11 pm
I agree with Native BofA’s retention group is fabulous and they do like to see capacity to pay in large chunks.
I still have 5.99% on purchases on my personal Platinum.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: nativechild48
Credit Expert (100+ Posts)
Post subject: Fixed Rate Credit Card Offers
Posted: Mon May 23, 2005 12:52 pm
Yeah Daniel still got 5.99 fixed too. BOA gotta love 'em!!!
Guest: Board Monitor
Post subject: Fixed Rate Credit Card Offers
Posted: Mon May 23, 2005 3:43 pm
Quote:
Today is our 5th wedding anniversay.
Quite a milestone...especially these days. Congrats!
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: hdporter
Post subject: Fixed Rate Credit Card Offers
Posted: Tue May 24, 2005 2:59 am
What kind of FICO are we talking about with the extension of a low fixed rate on BA's Platinum?
I expect I'm out of the running with a 710 FICO (a couple of nasties 3-4 years ago and some moderately high balances). But, my score is gradually climbing about 6 points a month, so maybe in a year?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Daniel
Post subject: Fixed Rate Credit Card Offers
Posted: Tue May 24, 2005 7:25 pm
I expect I'm out of the running with a 710 FICO (a couple of nasties 3-4 years ago and some moderately high balances). But, my score is gradually climbing about 6 points a month, so maybe in a year?
Mine is around 780 or so but when this was offered it was probably a mid 700.
You have to negotiate a little with them so it's a win win situation they are more willing to try and meet your expectations if they believe you will be using their card instead of a competitors.
Also does not hurt if you run large balances thru their card and pay in full a few months before calling.
It’s not all about score alone.
Guest: legitimate user
Post subject: Fixed Rate Credit Card Offers
Posted: Tue May 24, 2005 7:43 pm
There is NO SUCH THING as a guaranteed fixed card. Even if it's advertised as fixed, there's fine print. FICO score plummets mysteriously? Whoops 29% APR on your "fixed" card. Miss a couple payments in a row? Same deal.
Let me sum up every CC card agreement for you right here: Company can do anything they want.
Once your APR is raised, it affects the balance to which it applies. For example if your APR on purchases is 29%, and you have a 5000 $ purchase balance, it now acrues interest at 29% yearly, no matter when the purchases were made.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: guessindigo
Post subject: Fixed Rate Credit Card Offers
Posted: Tue May 24, 2005 11:27 pm
This is very, very true.
It is MUCH easier to get a low fixed rate from BofA if your a heavy user of their card.
However, that 5.99% fixed is gone now. If you call retention, you will NOT get that rate. Best you will get now is 7.99% fixed. There was a small window a few years ago and with some arm twisting you could get it.
Call now and there is no way BofA will give you 5.99% fixed rate.
Guest: hdporter
Post subject: Fixed Rate Credit Card Offers
Posted: Wed May 25, 2005 10:05 am
Thanks for the feedback on conversion to a fixed rate BA and qualifying interest rates. I'll definitely pursue this, although I may wait 6 months. My score is improving steadily by about 6-7 points per month. I'll likely be in mid 700's turf late this yearf as my delinquencies continue to age and fall off.
On the subject of the impact of account interest rate changes -- There's one aspect that's generally not well understood.
If the creditor's change in determination of your interest rate represents a change in account terms, in response to changes in marketing strategy (and not due to adverse credit history on this account or others), you have the right to opt out of the change in account agreement.
This will effectively close the account, however, you'll be able to continue to repay any outstanding balance under former terms. (Capital One may be a rare exception to this since they require you to repay the balance in full on some account types in order to close an account.)
However, speak to account retention. There's a good chance you can negotiate a lower rate in order to keep your account active.
On the other hand, if the change in rate is due to the triggering of a penaltyrate due to account delinquencies or new adverse credit history on your credit report, this is not a change in account terms and there is no way to avoid the rate increase short of paying the account in full.
Your notice of rate change will advise you if there is an opt-out option.
Guest: Board Monitor
Posted: Fri May 20, 2005 10:46 am
This message posted by e-mail request from one of the visitors to our site:
Are fixed rates on cards available and who has them?
Can credit card companies change your APR anytime for any reason. And, the purchases made prior to the new APR, are they now collecting the new rate on those, or just the new ones.
What is the best card with fixed rates?
What is the best low rated card?
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: nativechild48
Credit Expert (100+ Posts)
Post subject: Fixed Rate Credit Card Offers
Posted: Fri May 20, 2005 4:29 pm
Bank of America has fixed on their Platinum Visa as long as your acct. is in good standing, and if you already have a variable rate with them in good standing, just call up the CS and ask for a low fixed rate!
www.bankofamerica.com
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Post subject: Fixed Rate Credit Card Offers
Posted: Sat May 21, 2005 7:38 am
Hey Native! How are things?!?
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: nativechild48
Credit Expert (100+ Posts)
Post subject: Fixed Rate Credit Card Offers
Posted: Sat May 21, 2005 1:40 pm
Not too bad Curtis; today is our 5th wedding anniversay. Did want to say BOA like to see large payments sometimes and if you pay on time you can ask them and they will be happy to work with you.
Guest: Daniel
Post subject: Fixed Rate Credit Card Offers
Posted: Sat May 21, 2005 6:11 pm
I agree with Native BofA’s retention group is fabulous and they do like to see capacity to pay in large chunks.
I still have 5.99% on purchases on my personal Platinum.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: nativechild48
Credit Expert (100+ Posts)
Post subject: Fixed Rate Credit Card Offers
Posted: Mon May 23, 2005 12:52 pm
Yeah Daniel still got 5.99 fixed too. BOA gotta love 'em!!!
Guest: Board Monitor
Post subject: Fixed Rate Credit Card Offers
Posted: Mon May 23, 2005 3:43 pm
Quote:
Today is our 5th wedding anniversay.
Quite a milestone...especially these days. Congrats!
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Guest: hdporter
Post subject: Fixed Rate Credit Card Offers
Posted: Tue May 24, 2005 2:59 am
What kind of FICO are we talking about with the extension of a low fixed rate on BA's Platinum?
I expect I'm out of the running with a 710 FICO (a couple of nasties 3-4 years ago and some moderately high balances). But, my score is gradually climbing about 6 points a month, so maybe in a year?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Daniel
Post subject: Fixed Rate Credit Card Offers
Posted: Tue May 24, 2005 7:25 pm
I expect I'm out of the running with a 710 FICO (a couple of nasties 3-4 years ago and some moderately high balances). But, my score is gradually climbing about 6 points a month, so maybe in a year?
Mine is around 780 or so but when this was offered it was probably a mid 700.
You have to negotiate a little with them so it's a win win situation they are more willing to try and meet your expectations if they believe you will be using their card instead of a competitors.
Also does not hurt if you run large balances thru their card and pay in full a few months before calling.
It’s not all about score alone.
Guest: legitimate user
Post subject: Fixed Rate Credit Card Offers
Posted: Tue May 24, 2005 7:43 pm
There is NO SUCH THING as a guaranteed fixed card. Even if it's advertised as fixed, there's fine print. FICO score plummets mysteriously? Whoops 29% APR on your "fixed" card. Miss a couple payments in a row? Same deal.
Let me sum up every CC card agreement for you right here: Company can do anything they want.
Once your APR is raised, it affects the balance to which it applies. For example if your APR on purchases is 29%, and you have a 5000 $ purchase balance, it now acrues interest at 29% yearly, no matter when the purchases were made.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: guessindigo
Post subject: Fixed Rate Credit Card Offers
Posted: Tue May 24, 2005 11:27 pm
This is very, very true.
It is MUCH easier to get a low fixed rate from BofA if your a heavy user of their card.
However, that 5.99% fixed is gone now. If you call retention, you will NOT get that rate. Best you will get now is 7.99% fixed. There was a small window a few years ago and with some arm twisting you could get it.
Call now and there is no way BofA will give you 5.99% fixed rate.
Guest: hdporter
Post subject: Fixed Rate Credit Card Offers
Posted: Wed May 25, 2005 10:05 am
Thanks for the feedback on conversion to a fixed rate BA and qualifying interest rates. I'll definitely pursue this, although I may wait 6 months. My score is improving steadily by about 6-7 points per month. I'll likely be in mid 700's turf late this yearf as my delinquencies continue to age and fall off.
On the subject of the impact of account interest rate changes -- There's one aspect that's generally not well understood.
If the creditor's change in determination of your interest rate represents a change in account terms, in response to changes in marketing strategy (and not due to adverse credit history on this account or others), you have the right to opt out of the change in account agreement.
This will effectively close the account, however, you'll be able to continue to repay any outstanding balance under former terms. (Capital One may be a rare exception to this since they require you to repay the balance in full on some account types in order to close an account.)
However, speak to account retention. There's a good chance you can negotiate a lower rate in order to keep your account active.
On the other hand, if the change in rate is due to the triggering of a penaltyrate due to account delinquencies or new adverse credit history on your credit report, this is not a change in account terms and there is no way to avoid the rate increase short of paying the account in full.
Your notice of rate change will advise you if there is an opt-out option.
posted by CardRatings.com at 4:03 PM
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