Credit Cards

[jgrode]

I'm new here and I was wondering if anyone out there with a target card was able to have them lower their apr. That's our highest, around 22%. We're almost at the credit limit but always paying more than the monthly amount.

[haulingthescoreup]

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jgrode wrote:
I'm new here and I was wondering if anyone out there with a target card was able to have them lower their apr. That's our highest, around 22%. We're almost at the credit limit but always paying more than the monthly amount.

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Hi, jgrode, welcome to the forums!

What's your current balance and credit limit? And how hard would it be to just pay the thing off?

Target is not going to lower its APR. Nor will most other CC's these days, if you have a balance. Once you're identified as a source of cash income, they have no interest in letting you off the hook.

Your best bet is to get your CC balances down as low as you can; paid off if there is any way possible. The banks are hurting for cash, and once they find a cardholder who owes, they're going to try to get as much money out of you as they possibly can.

Unfortunately, those who owe money are the new cash cows for lenders. If you can avoid being milked, do so.

[Creditaddict]

if you have just the target store card, it is not eligible for apr reductions since it's a store card. now if you had the target visa, they have tiers for lower APR but target is really tough about coming down on those tiers, they say they are set when the account is approved.

[mjbfan79]

If its the store card they will not lower the APR.

[Kay_Cee]

I've got a Target Visa which is a year old.  I've always paid the balance in full every month, have never been close to the max and always pay well before the due date.  I got a notice last month saying the were increasing the APR to 22.99% at minimum "Like many credit card issuers in this challenging economic environment...."

[VEEnVEGAS]

My Target Visa is just a year and a couple of months old. I have a $5000 limit and the highest balance was $132, always PIF. Until last month my APR had gone from 22% on opening down to 17%. Last month I received the same letter as many other users here that the rate was being raised to 22%. I haven't tried asking that it be decreased, I just wouldn't even consider ever carrying a balance on it.

Actually the more I think about it the more I think it might not be a bad idea to cancel the card.