Reducing APR, and more.
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Posted by violet
(209.179.223.203) on December 02, 2002 at 12:37:55:
This is my situation. I have a Visa with 9.9% APR on cash and purchases. I opened a Discover Card because there was initially a 0% APR. After awhile it became 12.9 I believe. I had one or two late payments so now the APR is very high (18% or more I think). I'm not using the card at all and I transferred the balance back to my Visa. I didn't know Discover would raise the APR just because of late payments, because my Visa card has never done that. My questions: Is the 9.9% with Visa good, or should I try to get it lower? Should I try to get Discover to lower their APR to 9.9 for cash and purchases, based on my getting that with Visa? My balance with them in now zero and I have not used the card since they harassed me about the late payment when it was like, one day late (or at least extremely soon after the payment was supposed to arrive). I don't like their attitude and tone and practices compared to Visa. Why should I use Discover when I get a much better deal with Visa and they have better practices and are nicer? However, I would like to have one other card in addition to the Visa. I am not sure if I should close the Discover card, open up a different one (is it possible to have more than one Visa cards from the same bank?) or ask Discover for what I want? Thank you kindly in advance for any advice about this.
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