How to get low APR cards?

[loviedovie]

Hi credit geniuses - I NEED YOUR ADVICE:

Do I cancel the cards I have and start over? I started with high limits because I had no credit history. Now I have 4 years of flawless history and a 780 credit score but still the APR of someone who just declared bankruptcy (when I've never even had a collection).

WHAT DO I DO TO GET LOWER APRs??? - Lovie

Chase Sapphire Preferred    ($9k limit - 22.9% APR) opened 2014

Chase Slate                            ($3,200 limit - 23.9% APR) opened 2016

Citi Thank You Preferred      ($3,300 limit - 16.9% APR) opened 2013

Banana Republic Visa           ($5,050 limit - 25.9 APR) opened 2014

Nordstrom store card           ($6,000 limit - 18.9% APR) opened 2014

Macys store card                   ($5,000 limit - 24.5% APR) opened 2013

CareCredit                               ($8,300 limit - 0% for 6 months then 33% APR) opened 2013

[Anonymous]

Some on here have had luck calling their card issuers and stating " I am wanting to cancel my card becasue ( insert name ) bank will offer me a much lower APR" the issuers then make a deal with lowering the APR to keep the account open. Have you tried this already?

[Anonymous]

Forgot to also mention sometimes you can call and seek a product change to a card that might have a lower APR range.

[CH-7-Mission-Accomplished]

The problem you have is that none of these are lenders you would ever carry a balance with should the need arise.  You need to open some credit union cards.   I do have a bankruptcy that's just four years old and my scores are all between 695 and 710.   I just applied for the Navy Federal platinum card and was approved for 25K at their lowest rate, 6.99%.

Even calling in to get your rate lowered with these large commercial banks is really a waste of time unless you already have a balance with them and you can't balance transfer it away.   Who really cares if they cut your rate from 19% to 16%?    If you can't get into Navy, there are lots of other credit unions offering rates under 10% -- most in the 8% range.

[loviedovie]

Thanks King Bob - I haven't tried it yet but that will be my next step. A google search found me a bunch of sample scripts (Nerdwallet, Bankrate.com, etc.) to ask for lower APRs so I'm going to try that first before cancelling! Fingers crossed! 

[loviedovie]

Ch-7-Rebuilding thank you!!! That's what I was wondering - do I just have the wrong cards? If I can't get these guys to budge I will definitely try some of the ones you mentioned to ask for lower APRs!!!

[SouthJamaica]

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@loviedovie wrote:

Ch-7-Rebuilding thank you!!! That's what I was wondering - do I just have the wrong cards? If I can't get these guys to budge I will definitely try some of the ones you mentioned to ask for lower APRs!!!

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They're not all "the wrong cards", they're just not low interest rate cards. The CSP is an excellent card, just not in terms of interest rates.

If you like low interest and low fees then, as advised above, you should be gravitating towards credit union platinum non-rewards cards.

Me, I wouldn't close any of those cards, except maybe the store cards.

[BungalowMo]

Great advice on getting the Credit Union cards!  They are well known for high limits and low rates.

I have 2 thru Navy Fed & their customer service is the best there is...right up there with AMEX. 

I agree the cards you have aren't "bad", they just have their own purposes.  I have a Care Credit & it's been a lifesaver at my Vets office!

Lord knows those furbabies get into mischief & have their emergency vet visits!!