Current Events > What is a good APR for a first time credit card?

(+) Yeah! (+)

Any and all tips appreciated.

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Hard to tell without your actual credit score. You're most likely not going to get a good APR regardless, so pay everything off on time until you can. Builds good habits.

You're probably looking at around 24.9 for any decent credit card. Which is high af.
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Depends on your credit. If you don't have much credit or bad credit, it'll be pretty high. My first was 25%, which I believe is fairly normal (even if it is ass). My parents have cards on the order of 6-8% since they've had good credit for a long time.

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My credit score is 745 if that helps

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69%
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Credit cards are going to have a terrible APR regardless. The goal is to pay the balance off every month so you never have to pay the APR

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TheDyslexicGuy posted...

My credit score is 745 if that helps

Yeah, mine is around the same. But if you don't have much credit history you'll still be getting around 25%.

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Jabodie posted...

Yeah, mine is around the same. But if you don't have much credit history you'll still be getting around 25%.

How long does it take to go down if I stay in good standing?

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Ex-Kefiroth posted...

Never carry a balance.

Well I wanted to build a new computer and pay off the stuff over time. Like $2000 in parts, pay $1000 right away and just pay the rest off over like 5 months. Is this a bad idea?

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Ex-Kefiroth posted...

Never carry a balance.

if I use my card I pay it off that very day

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Every card I've ever had, even from my first one, was 18.99%.

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it really doesnt matter what the APR is. never carry a balance.

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TheDyslexicGuy posted...

How long does it take to go down if I stay in good standing?

Tbh, I don't really know. I've had a card for a couple years and I get credit card offers for a few points lower (22% these days). Always kept payments on time. They increased the maximum from $1000 to $3500 in the same period as well.

But I don't have any car or mortgage loans, or anything else that will meaningfully improve my credit.

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Jabodie posted...

Tbh, I don't really know. I've had a card for a couple years and I get credit card offers for a few points lower (22% these days). Always kept payments on time. They increased the maximum from $1000 to $3500 in the same period as well.

But I don't have any car or mortgage loans, or anything else that will meaningfully improve my credit.

They said my APR would be 22.69% and max credit line is $9500. I don't get why they'd give me a credit line that high and keep my APR high.

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TheDyslexicGuy posted...

Well I wanted to build a new computer and pay off the stuff over time. Like $2000 in parts, pay $1000 right away and just pay the rest off over like 5 months. Is this a bad idea?

You're better off just looking for a payment plan offer from a retailer or something. You'll probably get a way better deal than 25% APR over those 5 months.

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TheDyslexicGuy posted...

They said my APR would be 22.69% and max credit line is $9500. I don't get why they'd give me a credit line that high and keep my APR high.

Might have to do with your income if this is a credit card offer from your bank.

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My APR could be 999% for all I care.

I never carry a balance. If I couldn't use my debit card to make the purchase that instant, then I can't afford it.

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Jabodie posted...

Might have to do with your income if this is a credit card offer from your bank.

No from Discover. Discover It is the actual name of the card.

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TheDyslexicGuy posted...

No from Discover. Discover It is the actual name of the card.

Who knows what data they have on you tbh.

Either way, I'd still get a card for things like hotel booking and whatnot.

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I've never paid interest on my credit card and I've had it since 2014 or so

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Jabodie posted...

Who knows what data they have on you tbh.

Either way, I'd still get a card for things like hotel booking and whatnot.

Right, buy a pair of pants and pay it off right away. Use it as a credit builder not a payment plan. That's what I'm getting from this topic.

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Chase has zero apr for the first 15 months

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TheoryzC posted...

Chase has zero apr for the first 15 months

I guess technically there is 0% APR until May 2021

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TheDyslexicGuy posted...

I guess technically there is 0% APR until May 2021

That might be a decent strategy for this particular case, then. If you feel pretty confident you can get the computer paid off by then, I think it'll be fine. My parents occasionally do this when we go on vacations. Charge $10,000 to a new 0 APR card and pay it off before the end of the period.

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Jabodie posted...

That might be a decent strategy for this particularly case, then. If you feel pretty confident you can get the computer paid off by then, I think it'll be fine. My parents occasionally do this when we go on vacations. Charge $10,000 to a new 0 APR card and pay it off before the end of the period.

Oh I can definitely pay for it I just wanted to spread the payments out over time instead of having to dump $2000 all at once.

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TheoryzC posted...

Chase has zero apr for the first 15 months

That depends on the card. It might be true for the Freedom line of cards, but certainly not for the Sapphire line.

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Bump. Also thank you for the help in this topic, Im flying blind and youve been a big help

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