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In Pursuit of High Scores and Higher Limits


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1 hour ago, Kat58 said:

I noticed on Discover's website just now, that the lowest APR is 11.99%, for new accounts. I called to request another permanent APR reduction, since the chat and messaging options aren't available at this time. I was informed that my current APR is 11.24% and couldn't go lower.


Not a surprise that there will be lower numbers...after all, most cards are likely somewhere around the 11% range plus prime...and since the prime has been reduced to next to nothing, that means the base number is currently in play.  That number will be going up in the near future though...probably both base AND prime.   Won't surprise me to see cards going to 14.99% as the floor.


Admittedly, if one does not revolve a balance, then the APR is meaningless.

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The APR itself doesn't matter to me, but I seem to remember reading that there were some lenders where the tier mattered.  That is, if you're in the tier that gets the best interest rate, it makes you eligible for better terms like higher CLIs.  Does anybody have data on which lenders might work this way?

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  • 1 month later...

Making good progress.  I have paid my overall credit card down and my utilization is around 30%.  My Experian FICO 8 is 723 as of May 24th, it was 667 a month ago.  Thanks for the great advice!


Discover did lower my interest rate, but I've marked my calendar to try again in 6 months.  Based on @Kat58 's feedback, I should have some luck.  Thanks for the great info!!

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On 4/17/2020 at 9:14 AM, Kat58 said:

I noticed on Discover's website just now, that the lowest APR is 11.99%, for new accounts. I called to request another permanent APR reduction, since the chat and messaging options aren't available at this time. I was informed that my current APR is 11.24% and couldn't go lower.


Hello! Kat  :wave:
I think some people's real annual interest rate is even lower.





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13 hours ago, hdporter said:

In your face!  :)



Nice!   :D  :wave:


When some people need funds to float for 3 to 6 months in a tight financial situation, a lower APR is a good choice. There is no doubt that revolving long-term credit cards will have a harmful effect on various unwelcome consequences, resulting in AA, CLD, and BK.


I let 0.3% of UTI report to the bureaus. Frankly, if a credit issuer wants to CLD me for some reason, I don't care. APR has no effect on me, the mantra, PIF!



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