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Date: 04/20/24 10:42
Amtrak credit card
Author: GenePoon

Message regarding the Amtrak credit card states that the interest rate for unpaid balances has increased to 27%.

It might be a good practice to pay off the total completely monthly.

So much fun with the this inflationary economy.



Date: 04/20/24 12:02
Re: Amtrak credit card
Author: sf1010

Do you get to pay late by a time period proportional to Amtrak late trains that month?



Date: 04/20/24 12:03
Re: Amtrak credit card
Author: TheButcherofBena

Or just cut up the card?



Date: 04/20/24 12:23
Re: Amtrak credit card
Author: Lackawanna484

Credit card interest rates have been 25% plus for years. With occasional lower rate sales for transferred balances.

Posted from Android



Date: 04/20/24 14:25
Re: Amtrak credit card
Author: SP4360

Well you know Gene, has to get in a dig. I haven't seen a card with under 20% interest rate since the last century.

Lackawanna484 Wrote:
-------------------------------------------------------
> Credit card interest rates have been 25% plus for
> years. With occasional lower rate sales for
> transferred balances.
>
> Posted from Android



Date: 04/20/24 16:11
Re: Amtrak credit card
Author: Erie-Lackawanna

Nice to know y'all signed up for those cards without reading the disclosures or the periodic notices of changes to your accounts. 

Only one of my several cards has a rate over 20%--even now, with high rates the norm. Frankly, for anyone with decent credit, I believe an interest rate over 20% is unusual, although certainly more common than pre-2022. 

Now, if you're payment is overdue, then the punitive rate is much higher than 20%...usuriously so.

Jim



Date: 04/20/24 17:19
Re: Amtrak credit card
Author: GenePoon

My credit cards all have a basic rate of 14% to 17%, well under the 20% figure being quoted and far less than the 27% for the Amtrak credit card.

But I pay them off every month, in full and have done so for too many years to count.



Edited 1 time(s). Last edit at 04/20/24 17:19 by GenePoon.



Date: 04/21/24 17:33
Re: Amtrak credit card
Author: Passfanatic

It's best to pay off your bill in full when you are supposed to. Many of us look for excuses not to pay it off and that's not a good look. There may be times when it is tough to pay in full on time but a good lesson to learn is to try not to spend too much money at once and also don't spend it a lot on things that you might like all the time but are not the basics. For example, as much as I want to take a lot of vacation trips by train, I put limits on how much I can spend on that. I usually do three vacations of at a least a week per year. Trips like riding the VIA Rail long distance trains, I learned that it's best to do them during the off season if possible since you can get very good deals. I have other financial things to take care of that go beyond the scope of taking too many week long vacations just to ride trains.



Date: 04/22/24 05:48
Re: Amtrak credit card
Author: Lackawanna484

Many schools have cut back the teaching of financial literacy, along with frivolous things like civics and driver's ed.

Posted from Android



Date: 04/22/24 08:19
Re: Amtrak credit card
Author: OldPorter

Lackawanna484 Wrote:
-------------------------------------------------------
> Many schools have cut back the teaching of
> financial literacy, along with frivolous things
> like civics and driver's ed.

Well said there, Lackawanna484. Back in my High School daze I had a full course of business type classes (along
with the regular high school course stuff) which taught how to write paper checks, balance your accounts, etc.
I also had a full semester of hands-on Driver's Ed, with real cars and a first rate Instructor. 

Our "student car" was a Chevy SS 396, with the performance package! A very intimidating car, for 15 yr old rookies. 
And my Civics teacher, Mr. Clouse- was one of the best teachers I ever had. His teachings still resonate with me today. 
He dwelled heavily on the Constitution, and the Founding Fathers various writings. Really solid stuff, back in the 1970s.



Date: 04/22/24 09:00
Re: Amtrak credit card
Author: randgust

Sounds like interest rates are pegged to the on-time performance % of any given long distance train originating or terminating in Chicago.



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