Request to lower APR

[Anonymous]

How often can this be done and does it hurt the credit score to do so?

[Anonymous]

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@Anonymous wrote:
How often can this be done and does it hurt the credit score to do so?

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Depends if the creditor will offer it. You can call/message/chat them to check if you have any APR offers.

APR changes on a credit card does not affect credit at all.

[msbia]

What Monoglot said. OP, if the scores in your signature are correct, I would wait until they are a bit higher to request APR decreases. Creditors tend to look at your usage, scores and credit available to determine apr range, I believe. So put good usage on your cards, let them age to about a year, then request. Discover, Amex and Barclays are all pretty lenient when it come to offering decreased apr. Good luck! 

[Anonymous]

Okay, yes, my scores are correct. I will let them age then try later. Do I ask after the card is paid off and score increases? Thank you all for your help.

[Anonymous]

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@Anonymous wrote:
Okay, yes, my scores are correct. I will let them age then try later. Do I ask after the card is paid off and score increases? Thank you all for your help.

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Yes, definitely ask when your credit profile is at its best standing.

This includes: letting your account age, show payment history, score increases, paying off account in full, also possibly after a CLI (which may indicate creditor has more faith in you)

[Anonymous]

Oh okay. I am sorry for all the repeating questions. This is all new to me and seems so darn complicated. I already seem to be in a sinking ship. :/

[Anonymous]

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@Anonymous wrote:
Oh okay. I am sorry for all the repeating questions. This is all new to me and seems so darn complicated. I already seem to be in a sinking ship. :/

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Let us help keep you afloat.

Do not worry, please ask me any more question about credit! I'd be happy to answer.

This was all new to each and every single one of us. Don't see any reason why we shouldn't be helping a new member. You'll be getting a higher score in no time

[pipeguy]

FWIW - it's a pretty easy process, you just send a secure message or go on chat (3rd option is to call, but many times front line CSR's are not very good, think Cap-1).

Recently I had my DCU card reduced from 11.50% to 9.5%, my Comenity Total Rewards from 22% to 17.99% (maybe 6 months ago) and a couple days ago I asked Discover for a reduction of my current 17.99% and they offered 16.24% or 00% for 12 months on new purchases - I took the zero percent promotion. 

It's kind of like requesting a credit limit increase - put on your best image and make the request - and like a CLI many times they'll say no or not right now, so be it....

I do tend to PIF all my cards that charge interest and typically have at least 1 or 2 cards that are at 00% either through intro promotions or spending promotions, those I'll carry a balance on if I need to so as a rule my "cash back for spending" every year will exceed any APR interest I might pay here and there. 

I do have a couple of fairly high APR cards such as BP Visa, Sams Club, Amazon Prime - but I never pay interest on those accounts so it's not really a factor.