Lower My Rate Program
Reduce your interest rate % points every months.
- Just make on-time payments to qualify
- Reductions are applied automatically
FAQs
Q: How soon can I see a rate reduction?
A: After you make on-time payments for consecutive months, your interest rate will automatically be reduced by % points.
Q: Is the interest rate drop permanent?
A: Yes. Every time you complete consecutive months of on-time payments, your interest rate will be permanently lowered by % points.
Q: Will my payment go down?
A: Yes. The lower interest rate will be reflected by a lower payment. You are still welcome to make the original, or higher, payment if you would like to pay down your loan faster.
Q: What if I have trouble making a payment?
A: We want to see your financial success. If you have trouble making a payment, please contact one of our friendly representatives.
Q: How many times can my interest rate be reduced?
A: With consecutive on-time payments, you can reduce your interest rate every months for the duration of your loan.
Q: What is an on-time payment?
A: A payment is considered on-time if it's received within 7 days of the due date.
Q: What happens if I make a late payment?
A: A late payment will not affect any rate reductions that have already been applied to your loan.
Details
The number of consecutive on-time payments required to complete a full month period will depend on your payment schedule. The number of payments per schedule are as follows: Bi-Weekly payments = 13 payments, Semi-Monthly payments = 12 payments, and Monthly payments = 6 payments.
The rate reduction program is applicable only to loans with an APR greater than % and with loan repayment terms greater than -months. Your interest rate will not be reduced below the program minimum interest rate of %.
The effective date of rate reduction is the day after the last eligible on-time payment. The APRs vary for each loan depending on a variety of factors such as loan amount, term, number of days between disbursement and first repayment date, origination fees, etc. Maximum APR is dependent upon the program in which you are participating. If applicable, please see your mailer for additional details and pertinent information.
© 2024, Applied Data Finance, LLC D/B/A Personify Financial, all rights reserved.
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Saturday - 8:00 AM to 5:00 PM CT.
†FICO® Score is a common type of credit score. You can complete the next steps and check for loan offers without affecting your FICO® Score, even though we look at your credit to help determine if loan offers are available for you. If you choose to submit an application after selecting an offer, we will then pull your full credit report and your credit score may be affected.