Macy's F&F/New Card and the APR that Follows

[PyAri]

Ladies-

I picked up the card to open a new account and the hideous 19.21%APR was the first thing that popped out in my face.

In reference to putting the charges on the card to get the extra 20 or 15 depending on the area you open your card in...what about the APR that they charge??
When does that kick in?
And how do you avoid that?
I mean doesn't that kind of void the discount?

 

[finzup]

pay it off every month and there won't be any finance charges.

 

[PyAri]

Thanks for replying finzup =)
Do you just pay it off before your statement cuts?
Because ones it cuts the finance charges have been applied...right?

 

[jewelebeanie]

no. pay the WHOLE bill when you get it. If you don't, the finance charges apply to the balance you didn't pay off and will be added to next months bill.

 

[cupcake]

I think that you can immediately pay it off in the store when you make your purchase, too. But, as long as you pay the balance in full when you get your statement you will not incur any finance charges.

 

[finzup]

right -- you can wait until you get your statement. Then you must pay it in full by the due date to avoid finance charges.

 

[sparkles48]

I wish I had thought of opening an account during F&F - that's such a smart idea!

 

[glitter8188]

i might do it!

 

[glitter8188]

open an account that is hehehe

 

[IHeartCoach]

That's what I plan on doing, if I'm approved. then just paying it off. Might keep it might cancel it. But like someone else said in another thread it decreases your credit score 5 points everytime you apply I believe.

 

[shoulderbabies]

pay it off in full when the statement arrives and you'll pay no finance charges. The finance charges are high - but not 19% monthy!!! That's the yearly rate - it would take you the year to negate the discount - which you can't really do because you have to pay the minimum....but you know what I mean. The sooner you pay it the better the discount. Just pay it off within the year or you are back at square one!!

 

[PyAri]

Thanks for the advice ladies.
If I qualify, i will pay it off as soon as I get the statement.