Preferred accounts on my credit card ?

Question

so im apperantley under the Preferred accounts apr .
i applied online through my bank at what i thought was 12% apr when i got my packet it said i have a apr of 24 % .

i understand it might be due to it being my first card and because of my age,but will this apr ever go down ?

Answer 1

My daughter is in the same situation. If you have zero or little credit history, you are not a desirable customer and are not in a position to negotiate. I told her to take a card, any card, even if the terms stink. Use it and pay it in full each month. It will build history. Then apply for a better card when she has some history behind her.