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Doc Mac Coaching Group

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James Cruz
James Cruz

Credit Card Apr



You may have heard news recently that interest rates are on the rise. That's good news for depositors wanting to earn more on their savings accounts. It also means that the interest rates charged on your credit cards may go up.




credit card apr



Most credit cards have a variable interest rate, meaning the rate will rise or fall based on changes in a particular "index" of interest rates nationwide (not something controlled by your card issuer). In addition, your card issuer can decide to increase your rate under certain circumstances. For example, a card issuer may raise your interest rate if you are 60 days or more late paying your credit card bill or if you have a significant drop in your credit score. If your card has a low introductory interest rate, the rate will increase once the promotional period ends. As for fixed-rate credit cards, the interest rate will not rise or fall with changes in any specific index, but the rate can go up for other reasons, such as late payments. (Note: Fixed-rate credit cards are very rare in the marketplace today.)


The Credit Card Accountability Responsibility and Disclosure Act of 2009 (the Credit CARD Act) helps protect consumers from many instances of sudden interest rate increases. Under the law, your card issuer generally cannot raise the rate if you've had it for fewer than 12 months. Your card issuer also must provide you with a 45-day advance notice of a rate increase, which can only apply to balances going forward unless you are late paying your credit card bill by 60 days or more. Also, if your card issuer raises your rate because of a 60-day late payment, it must restore the original rate after six months of on-time payments.


Pay attention to any notices of a rate increase from your card issuer. Be sure to carefully read all mail from your card issuer, including monthly statements and notices. "If you receive a 45-day notice of a rate increase, consider whether you can pay off the credit card balance and close the account before the increased interest rate becomes effective," said Sandra Barker, an FDIC senior policy analyst.


If paying the card balance in full before the rate increases is not an option, Barker said that within the 45-day period you could transfer the balance from a card with a high interest rate to a different card issuer with a lower interest rate, but you need to be careful. "In many cases, a balance transfer can be a good way to get your debt under control and pay it off faster, but before you move your balance you need to know exactly what you're getting into," she said. "Many credit card issuers offer introductory zero-percent deals in the hopes that you will move your money to them, but you may pay a significant fee for the transfer. If you don't pay off the balance within the introductory period you'll be charged retroactive interest for the entire amount of the transfer. In the end, if you don't reduce the new card's balance each month, you could end up even more in debt."


Discover will automatically match all the cash back you earn at the end of your first year after you open your new Discover it cash back card.1 So if you earn $50 cash back, we'll give you another $50.


While cards with no annual fee can lower the cost of using your card, these credit cards will charge interest and could have other types of fees. When you pay your balance on time and in full at each billing statement, you may be able to avoid paying interest on purchases and reduce the cost of using credit.


Cashback Match: Only from Discover, as of January 2023. We'll match all the cash back rewards you've earned on your credit card from the day your new account is approved through your first 12 consecutive billing periods or 365 days, whichever is longer, and add it to your rewards account within two billing periods. You've earned cash back rewards only when they're processed, which may be after the transaction date. We will not match: rewards that are processed after your match period ends; statement credits; rewards transfers from Discover checking or other deposit accounts; or rewards for accounts that are closed. This promotional offer may not be available in the future and is exclusively for new cardmembers. No purchase minimums.


Discover Identity Alerts are offered by Discover Bank at no cost, only available online, and currently include the following services: (a) daily monitoring of your Experian credit report and an alert when a new inquiry or account is listed on your report; (b) daily monitoring of thousands of Dark Web sites known for revealing personal information and an alert if your Social Security number is found on such a website. This information is intended for, and only provided to, Primary credit cardmembers whose accounts are open, in good standing and have an email address on file. The Primary cardmember must agree online to receive identity alerts. Identity alert services are based on Experian information and data which may differ from information and data at other credit bureaus. Monitoring your credit report does not impact your credit score. This benefit may change or end in the future. Discover Bank is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. To see a list of Frequently Asked Questions, visit discover.com/freealerts.


FICO Credit Score Terms: Your FICO Credit Score, key factors and other credit information are based on data from TransUnion and may be different from other credit scores and other credit information provided by different bureaus. This information is intended for and only provided to Primary account holders who have an available score. See Discover.com/FICO about the availability of your score. Your score, key factors and other credit information are available on Discover.com and cardmembers are also provided a score on statements. Customers will see up to a year of recent scores online. Discover and other lenders may use different inputs, such as FICO Credit Scores, other credit scores and more information in credit decisions. This benefit may change or end in the future. FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.


Make purchases easier on your wallet! Get this card to help you save money and pay off high-rate card balances. Fifth Third customers can apply in a branch, via phone or digitally if registered for Online or Mobile banking.


Every Fifth Third Bank credit card offers a unique set of benefits that support your financial goals, spending habits, money management, and more. To review full lists of card benefits, download one of the Guide to Benefits PDFs below.


Clients with newly opened credit card accounts may not see their first FICO Score in online and mobile banking for up to 90 days after enrollment. In certain circumstances, a FICO Score may not be available for various reasons, e.g., having a limited credit history. FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.


This page contains Mastercard benefits available for new credit card clients. If you already have a KeyBank credit card, your Mastercard benefits may be different from those listed above. Please refer to documents you received when you opened your account or call 1-800-MC-ASSIST for more information.


The creditor and issuer of this credit card is KeyBank N.A., pursuant to a license from Mastercard International Incorporated. Mastercard and Tap & Go are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated.


Please note that the score provided under this service is for educational purposes and may not be the score used by Wells Fargo to make credit decisions. Wells Fargo looks at many factors to determine your credit options; therefore, a specific FICO Score or Wells Fargo credit rating does not guarantee a specific loan rate, approval of a loan, or an upgrade on a credit card.


When you pay your monthly wireless bill with your eligible PNC Visa credit card, your cell phone is protected for the next calendar month if it is stolen or damaged. A maximum of 2 claims will be paid each 12-month period, with each claim subject to a $50 deductible. Additional terms, conditions and exclusions apply. If your credit card application is approved, you will be provided with a link to a Visa Guide to Benefits that contains complete details regarding the program.


Watch your Cash Back1 rewards quickly build up when you use your Special Connections credit card for everything else. Whether it's an online, in-store/digital-wallet transaction, you'll always earn 1% on all other purchases1. Who knew paying monthly bills and utilities could even be somewhat fun?


Offers for credit cards may vary by channel. The information displayed on this page and in your Summary of Credit Terms determine the offer you will receive. Applying via another channel or at another time may result in different product offers.


Q: If I request a balance transfer, will you process the entire amount that I requested? A: We will do our best to accommodate your request. If you are approved, we may permit you to transfer balances from other eligible credit cards or accounts up to the amount of your credit limit we make available for balance transfers (which may be less than your total assigned credit limit). If the total amount(s) requested to be transferred exceed(s) the portion of your assigned credit limit for balance transfers, we may process part of your request or decline your request in our sole discretion. You cannot request a balance transfer to make payments on a First National Bank of Omaha account or any credit card account issued by First National Bank of Omaha.


FICO and "The score lenders use" are trademarks and/or registered trademarks of Fair Isaac Corporation in the United States and other countries. Please note, new cardmembers will generally see their FICO Bankcard Score 9 (the version of FICO Score we use to manage their account) within 45 days of account opening. 041b061a72


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