topic Re: If scores are higher does bank lower apr ? in Credit Cards

If scores are higher does bank lower apr ?

ShiningDown — Fri, 04 Nov 2011 03:43:15 GMT

I just had two 150 day lates removed from my report , if my scores go up will I qualify for a lower apr ? I will be getting a limit increase review in december. My scores have been under 697 and if they go up I may qualify for a lower apr. Should I ask for a lower apr if scores go up. Im at 11.99 with chase right now , is it pushing it to ask for it to be lowered ? Also they just upgraded my card to freedom after I called and asked.

Re: If scores are higher does bank lower apr ?

Odiseous — Fri, 04 Nov 2011 04:15:28 GMT

@cats63 wrote:
I just had two 150 day lates removed from my report , if my scores go up will I qualify for a lower apr ? I will be getting a limit increase review in december. My scores have been under 697 and if they go up I may qualify for a lower apr. Should I ask for a lower apr if scores go up. Im at 11.99 with chase right now , is it pushing it to ask for it to be lowered ? Also they just upgraded my card to freedom after I called and asked.

I don't know if you'll get any lower than 11.99% on the Freedom.

Looking at the current available APRs for new Freedom apps; the Freedom starts at 11.99, and goes up from there.

https://creditcards.chase.com/credit-cards/chase-freedom.aspx

As always, YMMV.

Re: If scores are higher does bank lower apr ?

Walt_K — Fri, 04 Nov 2011 04:59:59 GMT

While you may already be at the lowest level for the Freedom, there really is no downside to asking. I don't think anyone does hard credit pulls for asking for an APR reduction. I've never heard of that anyway (but as I've said before, without trying too hard you could fill a book with things I've never heard of that are true).

Re: If scores are higher does bank lower apr ?

Guava — Fri, 04 Nov 2011 05:54:31 GMT

Honestly, you'll be hard-pressed to find ANY card with rate lower than 11.99; and reward credit cards typically have high interest rate, you are pretty fortunate to have a freedom with just 11.99%.

Re: If scores are higher does bank lower apr ?

Anonymous — Fri, 04 Nov 2011 06:44:10 GMT

11.99 is already very low, especially for Freedom. Doesn't hurt to ask, but don't get your hopes up.

Re: If scores are higher does bank lower apr ?

ShiningDown — Fri, 04 Nov 2011 09:00:15 GMT

Thanks for the advice. I think I will just stay where Im at 11.99 %. I wasn't sure if 11.99 was good or just OK but now I guess I feel lucky to have 11.99%. I have to wait 30-45 days before my scores will change I wonder what impact two sears accounts 150 days late from 2006 will have on my scores after they disappear from my credit report. When I get my balance down what score should I have for a city card with balance transfer, what bureau does city use in Wisconsin or anywhere.

Re: If scores are higher does bank lower apr ?

mxp114 — Fri, 04 Nov 2011 09:15:24 GMT

Anyone have a Chase Sapphire below 15.24%? Is that possible? The lowest I see is 15.24% which is my rate.

Re: If scores are higher does bank lower apr ?

ShiningDown — Fri, 04 Nov 2011 13:29:03 GMT

Not to change your question I wanted to say I was at 13.24 for over 3 years before they changed my apr to 11.99 %. I have had a checking account with chase for a long time also. I thought I saw the freedom card advertised for 9.99 somewhere ?

Re: If scores are higher does bank lower apr ?

Anonymous — Fri, 04 Nov 2011 18:49:26 GMT

@cats63 wrote:
Thanks for the advice. I think I will just stay where Im at 11.99 %. I wasn't sure if 11.99 was good or just OK but now I guess I feel lucky to have 11.99%. I have to wait 30-45 days before my scores will change I wonder what impact two sears accounts 150 days late from 2006 will have on my scores after they disappear from my credit report. When I get my balance down what score should I have for a city card with balance transfer, what bureau does city use in Wisconsin or anywhere.

For a little perspective, I was approved with a 716 EX and they hit me with a 22.99 (highest at the time) APR. I know 716 isn't anything to brag about, but i don't think it deserves the highest interest rate either.