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APR

New Member

APR

Hello everyone.

 

I was trying to find some information to what my interest rate on my card should be, based on FICO score at Experian of 702.  Anyone have any idea where I can find this information, or does someone know it by chance?   I'd love to lower my APR if possible Smiley Very Happy

 

Thanks!

 

 

Josh 

Message 1 of 8
7 REPLIES
Senior Contributor

Re: APR

it depends on a lot more than just your credit score.  it depends on what is in your credit profile as well.
Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 2 of 8
New Member

Re: APR

Clean credit profile.  I've held this card for a year with no late payments.  No late payments on any cards.  My total credit combined is about $6400.  I have a student loan for $2600.  My credit to debt is around 50%.  It will drop once I get paid because I'll be paying my other card off.  No checks in over a year.

 

Hope this helps. 

Message 3 of 8
Moderator Emeritus

Re: APR

It also depends on the cc. Try calling to ask if they can lower it.
Message 4 of 8
New Member

Re: APR

Somewhere on the site it said there would be information to what you should be paying so when I couldn't find it I was hoping someone had some ballpark numbers, like those for mortgages, ect.
Message 5 of 8
Super Contributor

Re: APR

http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&thread.id=143835&jump=true

 

here are the national averages  Smiley Happy

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 6 of 8
New Member

Re: APR

That will probably work, considering my APR is like... 21%...
Message 7 of 8
Highlighted
Senior Contributor

Re: APR

also, the suze orman fico kit available for purchase at myfico offers an evaluation of your APR's based on your current scores, etc.  i was happy to find that according to the suze kit, i am currenty receiving fair rates from all lenders.  apparently if it is determined that you are not receiving fair rates, advice for lowering aprs is offered.

 

in general i'd say explore with your lender if there is a lower rate available by calling cs or back doors, lower rates always seem more fair :smileyhappy: though you can try to determine what it is fair even while you request reductions.

 

for me,  reductions have been granted incrementally, like cli's so be patient but persistent and check back with lenders periodically (about every 6 months or so) if you feel strongly that your rates are too high and you may carry balances.  otherwise, with the recession underfoot, you may not want to ruffle feathers if you aren't paying interest anyway, at least until things cool down a bit.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 8 of 8