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Credit Card APR Reduction

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Anonymous
Not applicable

Re: Credit Card APR Reduction

Really appreciate all of the great advice and suggestions. Some very smart people on these discussion boards. The transitions involved a divorce and a physical move to another state and then all of a sudden being saddled with two mortgages. So, all in all, it's amazing that my financial situation is not even worse!!

I applied for a loan through Prosper and was approved for $10,000 at 15.85% APR.  Lower than my current APR but still ridiculously high and I hear that Prosper does a HP and hurts credit even though they say they do not.  Any thoughts?  
Question: My FICO score is currently 723 but I have not gotten my credit scores from the big 3 in quite awhile. Should I order those scores? Where do I order those 3 reports together and does that generate a hard pull on my credit? And, is there a way to get them for free?
Thanks in advance!!

Message 11 of 15
Aim_High
Super Contributor

Re: Credit Card APR Reduction

Credit Karma, Credit Sesame, Nerd Wallet and Wallet Hub don’t specialize in the loans. They make money by referring people for loans and cards so take their referrals with a grain of salt. There may be better offers but they are a place to start.

Business Cards


Length of Credit > 42 years; Total Credit Limits > $947K
Top Lender TCL - Chase 156.4 - BofA 99.9 - CITI 97.5 - AMEX 95.0 - NFCU 80.0 - SYCH - 65.0
AoOA > 32 years (Jun 1993); AoYA (Oct 2024)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 12 of 15
Aim_High
Super Contributor

Re: Credit Card APR Reduction

@PissedandinDebt Wrote:
Really appreciate all of the great advice and suggestions. Some very smart people on these discussion boards. The transitions involved a divorce and a physical move to another state and then all of a sudden being saddled with two mortgages. So, all in all, it's amazing that my financial situation is not even worse!!
I applied for a loan through Prosper and was approved for $10,000 at 15.85% APR. Lower than my current APR but still ridiculously high and I hear that Prosper does a HP and hurts credit even though they say they do not. Any thoughts?
Question: My FICO score is currently 723 but I have not gotten my credit scores from the big 3 in quite awhile. Should I order those scores? Where do I order those 3 reports together and does that generate a hard pull on my credit? And, is there a way to get them for free?

Thanks in advance!!
————————————-

Order your three credit bureau report from ANNUAL credit report, not FREE or some other advertised sites. (www.annualcreditreport.com) That is only place to get them free. You can download or have them mailed for free once per year per bureau. Some people order one bureau every 4 months so they get fresh updates throughout the year.

No, getting your own reports doesn’t generate a hard pull. FICOs are not with the report. I get all three of mine through cards I carry. There is a credit monitoring website someone mentioned on here where you can get all three FICO scores and cancel membership within seven days to avoid a charge.

I’ve never worked with Prosper so I don’t know about them. Anything you can do to chip away at the debt, even marginally improving interest will help. Can you moonlight a second job or start a side gig to help with cash flow?

Yes, a new card or two with 0% BT offer may not help you eliminate ALL the debt but it’s worth a try. Sometimes it takes every trick sometimes to attack it in different directions. Sounds like you’re doing great so hang in there! Many of us have been there and made it through.


Business Cards


Length of Credit > 42 years; Total Credit Limits > $947K
Top Lender TCL - Chase 156.4 - BofA 99.9 - CITI 97.5 - AMEX 95.0 - NFCU 80.0 - SYCH - 65.0
AoOA > 32 years (Jun 1993); AoYA (Oct 2024)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 13 of 15
Anonymous
Not applicable

Re: Credit Card APR Reduction

Thanks for the advice and encouragement. 

I feel like I'm on my own personal episode of Survivor but the "elements" are the lending companies and banks!    

Message 14 of 15
KLEXH25
Valued Contributor

Re: Credit Card APR Reduction

You can get your Fico scores and credit report content for $1, for a 7 day trial at: https://www.creditchecktotal.com/

What is your current DTI ratio?


Message 15 of 15
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