High apr % on new cards.... How can I lower them?

[TheCreditKid]

I have two new revolving credit cards that has extremely high aprs. Both my BofA(Accelerated AMEX) and Citi(Diamond Rewards) has 20.99, with an intro of 0% for 7 months on the bofa and 12 months on the Citi. When the 0% intro rate expires, do I just call and ask them to lower it? This 20.99% is insane compared to my 7.24% Bankamericard.

[score_building]

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@TheCreditKid wrote:

I have two new revolving credit cards that has extremely high aprs. Both my BofA(Accelerated AMEX) and Citi(Diamond Rewards) has 20.99, with an intro of 0% for 7 months on the bofa and 12 months on the Citi. When the 0% intro rate expires, do I just call and ask them to lower it? This 20.99% is insane compared to my 7.24% Bankamericard.

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Use the zero percent offers if you have balances and worry about the APRD requests when no interest offers expire.  Also, PIF with these lenders is strongly recommended so APR should not be a mjr issue really.

In the interim no more app., since additional app will almost certainly make you look more risky, and yield poor terms of approval or denied app., particularly if a short history is an issue...in that case, no time like the present to let accts age to gain more credibility. 

[GregB]

Their plan is that the 0% for 7 months will entice some people to still have a balance when the promo period ends. They are looking for the high interest to get the money they lost during the promo period. Just make you don't fall for it and owe anything at the end of the 0% period. When you pay it off, you may find them offering another promo soon.