Lower Credit Card Interest Rate

[Anonymous]

When I orderd my fico scores I read that based on my fico score I should have a lower interest rate on my credit card. However, Bank of America denied the request. When I tried to do a balance transfer with Capital One the application was not approved. The tax payers are bailing out the banks but there is no stimulus for us.

[llecs]

I've found that a FICO score isn't a very good predictor of potential APRs. As a great example, prior to beginning our credit repairs, my DW appd for and received a Citi CC at 10% (10.24 I think). She was approved with a FICO score then of about 575. Yet, if you read in these forums, you'll find some examples of folks with 700 scores with rates well into the teens. You can also read several cases of folks here with high scores seeing hits with higher rates and lowered CLs.

Also the issued APRs depends on not only your credit but also the CC issuer. Some issue rates notoriously high.