Highest APR That You’ve Seen?

General Discussion Forum
1

Hi, I just received a letter for my Shop Your Way Citi credit card stating they’re raising the APR to 34.24%. I’ve never carried a balance on any of my cards, so it doesn’t affect me, but that seems laughably high (and should be illegal).

I’m curious—has anyone seen an even higher APR on their cards? What’s the highest APR you’ve come across?

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2

Whoa, 34.24%? That’s wild. I’ve had my share of high APRs, but that’s a new level. I once saw a card with 29.99%, and it seemed steep, but 34.24% is something else. Definitely makes me wonder what’s the highest out there. Anyone beat this?

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3

Some subprime cards that I’ve seen had an APR of 29.99%. That’s the ones that give you a 200 limit and charge you a 99.00 fee, right?

4

Hey, A 34.24% APR is quite high but not unusual, as credit card companies can charge rates up to legal limits that vary by country.

Factors contributing to high APRs:

  • Late Payments: Frequent late payments can raise your APR.
  • Closing Accounts: This can harm your credit score and lead to higher rates on new cards.
  • Debt Consolidation: Consolidating debt might offer a lower introductory rate, but the APR could increase after a period.