I know for Navy Fed you have to wait at least a year before asking for an APR reduction. Everyone I've seen here has received a reduction down to the lowest limit.
@myquestionsfico wrote:I've been rebuilding my credit from a time 5 years ago when I lost my job and was out of work for a year. Since then, I've been super diligent about getting my credit back on track. I have a few Amex cards (including Platinum, Platinum SkyMiles, EveryDay), and opened accounts at PenFed (Power Cash Rewards and Visa Gold), and NFCU (GoRewards and Flagship). I've never missed a payment on any of them.
Amex APRs range from 18-24% (ick) while PenFed (14.99) and NFCU (9.99) are much more competitive.
Amex you can call or chat anytime, I never have had a whole lot of success with them.
PenFed, Good luck! .. but still try.
NFCU you can ask for an APR reduction when the card turns one year old.
In all cases, I've had a solid history since opening, and I rarely carry a balance...but I would like to get those high rates down in the event that I might need to someday.Always a good idea
When is the best time to ask for a rate reduction, and how do I go about doing that? Also, when is too early?Just ask anytime, all they can say is "NO" ..(Again wait 1 year on the NFCU)
I usually hit most of mine up every six months for APR reductions.
Honestly I have had the best success rate with Citibank.
@myquestionsfico, and congrats on your rebuild
