cancel
Showing results for 
Search instead for 
Did you mean: 

Searching for a lower intrest rate on everything

tag
rudy
Regular Contributor

Searching for a lower intrest rate on everything

In reviewing the intrest rates on my cc, motorcycle and everything else. I want to search for lower intrest rates. How do you do this without taking a hit on the FICO score? Because this would make it almost impossible to lower my intrest rates 

Message 1 of 5
4 REPLIES 4
CYBERSAM
Senior Contributor

Re: Searching for a lower intrest rate on everything

Look for a credit union that works for you! They should have some of the lowest rates still available.







                
Message 2 of 5
SouthJamaica
Mega Contributor

Re: Searching for a lower intrest rate on everything


@rudy wrote:

In reviewing the intrest rates on my cc, motorcycle and everything else. I want to search for lower intrest rates. How do you do this without taking a hit on the FICO score? Because this would make it almost impossible to lower my intrest rates 


1.  The best place to look for lower interest rates is credit unions.

 

2.  On installment loans you would need to refinance with a  lower interest lender.

 

3.  With revolving accounts you might be able to balance transfer to a promo interest rate card, or even no interest rate card.

 

4.  Yes every time you open a new account you take a hit on your FICO scores.  So you would want to do it slowly and cautiously.

 


Total revolving limits 657200 (536700 reporting) FICO 8: EQ 712 TU 710 EX 710

Message 3 of 5
Credit4Growth
Senior Contributor

Re: Searching for a lower intrest rate on everything

We all know interest rates are currently on the rise. What many of my friends and family members forget is that they can call existing CC lenders and inquiry into promotional rates that may be offer. Also, asking about your accounts' eligibility for a permanent rate reduction could be beneficial as well.

Neither type of inquiry with a customer service representative will affect your FICO score.
Message 4 of 5
rudy
Regular Contributor

Re: Searching for a lower intrest rate on everything

Thank you all, 

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.