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Regular Contributor
bluedog1
Posts: 120
Registered: ‎03-14-2013

Question about APR

What is considered a good APR? I have some decent limits but APRs in the 16-18% range. My lowest is 12% with Citi. Is it worth trying to get the rest of them lowered?

Valued Contributor
ryanbush
Posts: 1,293
Registered: ‎08-19-2012

Re: Question about APR

10% and lower is what I consider good, interest rates on rewards cards are typically going to be higher than non rewards cards.

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Regular Contributor
jakemod1
Posts: 173
Registered: ‎01-26-2013

Re: Question about APR

+1 on a good APR being 10% or lower. What kind of cards do you have and how long have you had them? Do you PIF? If not, it definitely will not hurt you to call and ask for an APR reduction.


bluedog1 wrote:

What is considered a good APR? I have some decent limits but APRs in the 16-18% range. My lowest is 12% with Citi. Is it worth trying to get the rest of them lowered?


 

Discover IT: $7,500 | Chase Freedom: $5,000 | Chase Sapphire Preferred: $7,000 | AMEX BCE: $6,000 | BoA BankAmericard Cash Rewards: $2,500 | Cap1 VentureOne: $5,000 | GECRB Chevron: $3,500 | Macy's Store: $4,200; Macy's AMEX: $6,000 | Best Buy: $500 | Kohl's: $2,000
TU FICO: 746 (myFICO 7/28/13)
EQ FICO: 767 (myFICO 2/28/13)
EX FICO: 742 (myFICO 8/8/13)
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Regular Contributor
bluedog1
Posts: 120
Registered: ‎03-14-2013

Re: Question about APR

All of my cards are rewards cards. I got them 1-2 years ago when my credit score was about 30 points lower (720ish). I do PIF, just wondering if it's something that gets reported along with CLs and such.

Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011

Re: Question about APR

Your APR doesn't get reported to the CRA's.  If you want a low APR card look into a CU, they can be in the 8.5% range.  Barclay Ring is also 8.5%.

Established Contributor
bettercreditguy1
Posts: 744
Registered: ‎02-11-2012

Re: Question about APR

Straight credit cards will get you the lowest apr. Cash rewards cards are always higher as the cc companies must make money to pay the rewards.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Valued Contributor
FinStar
Posts: 5,156
Registered: ‎10-21-2012

Re: Question about APR


bettercreditguy1 wrote:

Straight credit cards will get you the lowest apr. Cash rewards cards are always higher as the cc companies must make money to pay the rewards.


+1

You will seldomly find any large lending institution with a rewards card program with a competitive APR similar to a community bank or credit union offering.

Moderator
09Lexie
Posts: 24,441
Registered: ‎09-13-2012

Re: Question about APR

I agree with the other posters. When I was approved at my CU, I was offered the platinum or rewards Visa. The difference was APR of 9.50 vs 12.50. Since I have other rewards cards with better benefits it was a no brainer for me.
Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Question about APR

Capital One is my best APR at 13.99%

Had 5.99 before The Great Recession
And still have 9.24% on a closed Slate. It's hard to even get anything <20% range for me :-/ ugh
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: Question about APR


bluedog1 wrote:

What is considered a good APR? I have some decent limits but APRs in the 16-18% range. My lowest is 12% with Citi. Is it worth trying to get the rest of them lowered?


there's usually a range APR for best to worst credit for that specific card, which you can find on that card website. Some cards have fixed APR for everyone who use that card (CSP is like this, I think).


You can definitely call to request your APR be lowered, but be warned sometimes they will do a hard pull for this. 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

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