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Only My Second Credit Card in 20 Years

March 30th, 2014 at 05:27 pm

Well, in answer to the advice of Retired to Win and following along a path I have been considering for a few months now, I just signed up for and was approved for my second credit card. In fact, this is the only other credit card I have has in 20 years. My first one is a Chase Platinum....$15k line....9% fixed...decent reward system. I have always been very happy with this card, the customer service, the security and rewards. The newest member of the family is the Capital One Quicksilver. Why you ask...well, $100.00 cash back bonus if $500.00 is charged within the first 3 months....no annual fee.......$10k line.....1.5% cash back on all purchases....I don't have to deal with rotating reward options (which isn't that big of a deal but I thought reducing the thought process was healthy at this stage in my life). The only "gripe" I have is the interest rate!!! What is going on???? Between 12 and 22%??? And this for a card that required an Excellent Credit Score????!!!! Well, since I never carry a balance, it really doesn't affect me but still....WOW! Is this normal? What say you!

4 Responses to “Only My Second Credit Card in 20 Years”

  1. Retired To Win Says:

    Thank you for the vote of confidence, Mooshocker.

    For the benefit of others who might read your post, this is the blog post you referenced by implication:

    A Double Fistful of Credit Cards:

  2. MonkeyMama Says:

    I have heard that good reward cards have higher interest rates. (For which you do need an excellent credit score). I honestly have never even looked at the interest rates on any of my credit cards, so I don't know.

  3. FrugalTexan75 Says:

    I'll have to keep this offer in mind if it's still around when I finish my current one (BofA Cash Rewards - same deal.) These are the only kind I can manage - $500 in 3 months is doable. (Although maybe I could get it just for renting my moving truck, and finish the other one off with gas ... hmmm...)

  4. Tabs Says:

    Congrats! I did about the same thing as well. First time I got a credit card, it was to rebuild my credit, because it was bad at the time.

    Eventually, I got a reward credit card that I've always wanted, but that took years for it materialize. Yes, my interest rate was high too, but since I hardly ever carry a balance at it, it wasn't a problem.

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