Not time to apply (yet)

[expatCanuck]

BoA says I can have a Cash Rewards card with 18.24% -- but the card's advertised range goes down to 16.24%. -- so I'm thinking it's not time to apply. While my scores are high, my BT's with them won't be clear 'til Q3.

Does anyone know if the rates are negotiable?

(It's the New Credit component of my FICO score that's in the gutter )

[UncleB]

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@expatCanuck wrote:
BoA says I can have a Cash Rewards card with 18.24% -- but the card's advertised range goes down to 16.24%. -- so I'm thinking it's not time to apply. While my scores are high, my BT's with them won't be clear 'til Q3.

Does anyone know if the rates are negotiable?

(It's the New Credit component of my FICO score that's in the gutter )

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I don't know if you'll be able to get a lower rate right out of the gate, but I'm fairly certain they will consider lowering it later on - if I recall correctly @AverageJoesCredit was able to get a reduction. 

ETA:  Found it:  https://ficoforums.myfico.com/t5/Credit-Cards/My-first-APR-reduction-thanks-BOA/m-p/4895596

I don't know what the time limits are (how long you have to wait, etc.) but hopefully somebody will come along who will have the details.

[UpperNwGuy]

Why worry about the difference between 16% and 18% annual percentage rates?  Both rates are too high to pay.  If you have to carry a balance, either get low APR credit union card or get a 0% balance transfer card.

[AverageJoesCredit]

Expat, i dont think waiting til later would improve your chances at a lower apr necessarily. Like @UncleB mentioned, Boa does reduce when requested and if its available, just need some time with card.

We just never know how they decide our apr. Just look at my last 2 approvals, Disco gave me 25.99 and Amex 26.99. Lolwut, i usually pif with both them, have established credit and am in the 700's.

As for why worry about aprs, not everyone will get a card just for a 0% offer . Sometimes you get a card for what it offers and theres nothing we can do about the lender putting on a high apr range. Just part of the deal

[xaximus]

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@expatCanuck wrote:
BoA says I can have a Cash Rewards card with 18.24% -- but the card's advertised range goes down to 16.24%. -- so I'm thinking it's not time to apply. While my scores are high, my BT's with them won't be clear 'til Q3.

Does anyone know if the rates are negotiable?

(It's the New Credit component of my FICO score that's in the gutter )

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@expatCanuck Any reason why the APR matters? If you PIF, then it means nothing. 

[kdm31091]

I wouldn’t worry about 16 vs 18 honestly neither is a rate that you would want to carry a balance on anyway.

[expatCanuck]

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@AverageJoesCredit wrote:
Expat, i dont think waiting til later would improve your chances at a lower apr necessarily. Like @UncleB mentioned, Boa does reduce when requested and if its available, just need some time with card.

We just never know how they decide our apr. Just look at my last 2 approvals, Disco gave me 25.99 and Amex 26.99. Lolwut, i usually pif with both them, have established credit and am in the 700's.

As for why worry about aprs, not everyone will get a card just for a 0% offer . Sometimes you get a card for what it offers and theres nothing we can do about the lender putting on a high apr range. Just part of the deal

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Thanks, AJC.  I do indeed get the first year at 0%.  It's the past-introductory period that I'm talking about.

And thanks to all for reminding me that. I'd not be carrying a balance anyway.