How soon after opening my credit card can I ask to lower my APR?

I have an AMEX card witha 17.5% APR. I have had the CC for about 7 months now and I have typically paid off the balance. I have a above a 750 credit score.

Can I call right now to ask for a lower APR or it is too soon? How long should I wait?

Answers:
Do you have any other credit cards? Do you 'NEED' this credit card? If you have 'older' cc's in good standing.

I'd CERTAINLY call and ask. Like yesterday. They'll probably say no, but it never hurts to ask. In fact, you could call them everyday. You most likely will get either a "NO" answer from "customer dis-service", or a "new" sales pitch. You should ask for the Superviser after the "no", and see if they will do anything.

If you have an 'older" credit card in good standing, you can always threaten to close the account if they refuse to lower the APR. (And be prepared to do exactly that!) OR, you could just stop using it - maybe only charge like about $2.00 every month or two, and then pay it off online thru billpay immediately, (You don't have to wait for a statement to arrive in he mail!)

You don't want to dump the card if it's the only one - or oldest one you have. You also don't want to dump the card if you have a high credit limit, and maybe balances on other credit cards. It could hurt your FICO score.
You want your debts to be 20% or less of your total availible credit limit.

Example: You have 2 cc's, each with a $500.00 credit limit. You have $200.00 balance btwn the two cards.

So, you have TTL $1000.00 credit limit, and TTL $200.00 owed. That's 20% debt to avail credit ratio.

If you dump the card, now you have 1 card with $500 credit limit, and $200 debt (outstanding) on the other credit card.
NOW, You're suddenly at 40% debt ratio!

This will make your FICO drop.

With your credit score, you should be able to get a better rate OR a better CC. (However, applying for a new CC ALSO affects your credit score - so don't go applying for like 10 all at once!

Depending on your circumstances, you might just be better off keeping the card, but ONLY charging like $2 or $5 each month...then go to bill-pay and pay it off immediately.
I would think so

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