Lower APR Credit Card

qkoo

Hi,

I would like to find out the following:-

Can I change to a lower APR credit Card, because my bank Lloyds TSB said that I cant even though they advertise a lower APR card. They say that I have a APR based on my credit score? I've had this credit card for almost 7 years with them since then my credit score improve.

Are they just saying that to keep me on a higher APR, because I think this is just their tactic to earn more of my money.

chanz4

flybe have done the same with me, only thing todo is close and reapply or get a different card

Tixy

The rate you are offered by a credit card company is always down to a combination of your credit history, your financial position and if you are in their target customer profile. They certanly don't have to lower your rate or give you a new card with a lower rate.
The rates they advertise are only the represntative rates, and only a proportion of people get those rates, many are offered higher rates or no card at all.

You could either try applying for a card elsewhere. Or you could pay off any balance close your card account and reapply in 6months with lloyds tsb when you'll be treated as a new customer - and will then see what rate they'll give you - but it could just as easily be higher than your current card than lower, or you may be declined altogether by them. .