06-25-2009 07:12 PM
I've been lurking for months now but only just joined. Already you have no idea how much this forum has helped me better understand my credit! So, thanks!
I have a question tho - my longest and favorite CC is a Citicard I got back in 2005 as a student with no credit (it's a college card). I had a baddie on my CR that I wasn't aware of until semi-recently which was from a medical bill when I was 15. I've since disputed and had it removed. Also attributing to my very high rate is the fact that I was 2 days late back in 2006 (re: new to credit and just managing my finances for the first time ). Anyways, it was never put on my CR and I've had a perfect payment history since then, and since my baddie was removed my scores bounced from the high 500's to 704/706/726. 3 months ago I asked for my first CLI and was approved, moving me from 1800 to 3800, and then I just saw the button reappear and was instantly given another increase to $5,300 (soft pull).
Buuuut, my APR is 19.990%. I rarely carry more than a couple hundred month to month, so I'm not generally too worried about the high rate, but my question is - a) should I be? (like I said, I'm new to the game so I may not realize all the implications), and b) do I even stand a chance to have the APR decreased (ie: is it even worth the phone call?). It would seem to me that they wouldn't bother decreasing an APR if they don't have to, but perhaps I'm wrong?
Thanks ahead of time for any opinions/advice!
06-25-2009 07:19 PM
19.9 on the type of card you have is higher but not extreme.
You can call and ask them to reconsider your rate--be aware they could reconsider everything.
06-26-2009 05:31 PM
06-27-2009 07:40 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.