Do Credit Card APR's ever come down?

ivandrago_2

Could some one give me advice on this; i have been stoozing for a while now and have about 7 credit cards with different lenders, all cards are paid off now but im running out of new companies to apply to to continue my stoozing abusive ways. Should I close all these accounts and just re-apply to the same companies or should i phone them up and beg them for another 0% promotional rate? In what way does this afffect my credit score? Am I likely to be accepted for new accounts given my stoozing history with these companies?

clearing_out_my_pockets

Typhoon2000 wrote: »

You have a credit card with a standard APR of 2.98% which is not some form time limited promotion??

Yes. I have had the card since 2004 and it has never had any introductory rates. And yes, that is the APR, not the monthly interest charge.:rolleyes:

chris-j

clearing_out_my_pockets wrote: »

Yes. I have had the card since 2004 and it has never had any introductory rates. And yes, that is the APR, not the monthly interest charge.:rolleyes:

I can confirm, I also have one of these and the rate is down again this month to 2.48% per annum for purchases and BT (although BT does have 3% fee).
All credit to Cap One that they have honoured the link to base rate on this card. I also got mine around 2004.

thriftymomma

chris-j wrote: »

I can confirm, I also have one of these and the rate is down again this month to 2.48% per annum for purchases and BT (although BT does have 3% fee).
All credit to Cap One that they have honoured the link to base rate on this card. I also got mine around 2004.

What a fabulous deal!!

MABLE

My Sony MBNA card has now an apr of 12.3%
Current rates for account number ending as of Current rates for account number ending as of 02/05/2009
Below are the rates which are showing on your account as of today, 02/05/2009. If you cannot find the rate reference you are looking for on this page, your promotional rate is no longer valid on your account. All rates will revert to the standard rate of Interest after the promotion end date or if you breach your terms and conditions and therefore your promotional rates will no longer apply. To view your previous rates, please refer to your monthly paper statements.

Promotional monthly rates not yet used
Rate codeInterest RateDescriptionFound on your current StatementRate charged under this rate codeDetails of when the rate applies0.7168% Balance transfers, cheque transactions and money transfers


Standard monthly rates
Description Interest RateDetails of when the rate appliesRate charged Balance Transfers1.1678%
Cash Transactions 2.0751%
Card Purchases1.0199%
Cheques & Money Transfers to bank accounts1.3133

MRSCARNEY

Mint have just reduced my rate and I didn't even ask them

billg57a

Rates do get put down as well as up - but mine (Mint included) have all been going up over the past few months, unfortunately.

byebyedebt

Ive asked for better rates in the past and generally got them. MBNA from 34% to 19%. This normally only happens when you dont have a balance, although HBOS dropped 4% on an existing balance. If your not using a card and it has a high limit but an expensive rate if you do, bin it!

giruzz

byebyedebt wrote: »

Ive asked for better rates in the past and generally got them. MBNA from 34% to 19%. This normally only happens when you dont have a balance, although HBOS dropped 4% on an existing balance. If your not using a card and it has a high limit but an expensive rate if you do, bin it!

My Halifax card moved from 24% to 29% but the limit increased from 500 to 600 without asking (this was after 6 months), the balance is always paid off in full.

I have asked to have the limit increased to 700 but they refused :-(

giruzz