topic Re: Question about APR in Credit Cards

Question about APR

Anonymous — Sun, 17 Mar 2013 20:31:23 GMT

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?

Re: Question about APR

Anonymous — Sun, 17 Mar 2013 20:36:44 GMT

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

Re: Question about APR

jakemod1 — Sun, 17 Mar 2013 20:41:43 GMT

+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.

@Anonymous 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?

Re: Question about APR

Anonymous — Sun, 17 Mar 2013 20:50:26 GMT

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.

Re: Question about APR

boomhower — Sun, 17 Mar 2013 21:14:38 GMT

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%.

Re: Question about APR

bettercreditguy1 — Mon, 18 Mar 2013 01:47:38 GMT

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.

Re: Question about APR

FinStar — Mon, 18 Mar 2013 04:15:14 GMT

@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.

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.

Re: Question about APR

09Lexie — Mon, 18 Mar 2013 04:22:04 GMT

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.

Re: Question about APR

youngandcreditwrthy — Mon, 18 Mar 2013 05:00:11 GMT

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

Re: Question about APR

Anonymous — Mon, 18 Mar 2013 12:22:47 GMT

@Anonymous 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.

Re: Question about APR

Anonymous — Wed, 20 Mar 2013 16:59:28 GMT

Just gave Amex and Chase a call. Amex lowered it 3% to 13.24%. Chase said no. Thanks everyone!