@Anonymous wrote:
I was recently approved for a Sapphire Preferred from Chase with a 24.74% APR and a $7,000 spending limit. This APR seems unreasonably high to me. My Equifax score is a 740, my FICO is a 780, utilization of my other card is 10% and I have no negative remarks on my credit history. I called and found out Chase doesn’t negotiate APR which is a bit silly. Any thoughts or suggestions?
Hi and welcome to the myFICO community!
May I ask where you’re getting your scores from? Also how recently have you seen your 3-bureau report (for accuracy purposes)? The reason why I ask these is because my DW just got a CSP 17.49% APR early this month with 1 baddy (gone now) and low 700s (+50 now) during approval. Couldn’t exactly remember what her CARS was.
Other than that, I couldn’t think of anything why your APR would be that high considering your scores that you just mentioned.
Congrats on the approval. If you are PIF, then I wouldn't bother with the APR. If you do plan to carry a balance, I would suggest another card as 17% is still high. Also, the APR could depending on several things, like AAoA, UTI across all of your cards, and depending on the FICO score as well.
I wouldn't concern myself with it. PIF IS ALWAYS WISE. If you do need to carry a balance, transfer it to one of the numerous cards out there which have zero intro APR and in some cases zero BT fee.
Personally I wouldn't...... But I don't carry balances so APR's I tend not to care about.... That's a little bit extreme just for a APR...
I do think it's possible .... But I don't know how chase will feel about that 2nd application if you make it within a year of the first one....Perhaps cancelling the preferred and going for the reserve later will set of less red flags....
I do think it's possible .... But I don't know how chase will feel about that 2nd application if you make it within a year of the first one....Perhaps cancelling the preferred and going for the reserve later will set of less red flags....
