Rate Reduction Rewards is a program designed to encourage customers to make payments on time by gradually reducing the interest rate on their contracts for every three months payments are successfully made on time while continuing to meet enrollment requirements.
All customers with a contract rate above 14% (Annual Percentage Rate (APR) are eligible to receive Rate Reduction Rewards. To receive Rate Reduction Rewards, you must enroll in the program and meet all applicable requirements. Please note that Prestige is not obligated to offer Rate Reduction Rewards to its customers and may change of terminate the program at any time without notice. Not all customers will qualify. Charged off accounts are not eligible for Rate Reduction Rewards. We reserve the right to collect post charged off accounts at the full contract rate.
Your rate will drop every three consecutive months that you make payments on time while continuing to meet enrollment requirements, or until your contract rate reaches 14% APR.
Your rate can drop from the contract rate to as low as 14% minimum APR after all reductions. The monthly payment amount remains the same with each rate reduction. Individual amortizations and savings will vary depending on terms and length of the contract. All customers with interest rates less than or equal to 14% do not qualify for Rate Reduction Rewards.
Always update your contact information when you have a change of address, phone number, or email. You must also verify your address, email, and phone number every 6 months to remain enrolled in Rate Reduction Rewards. If we receive returned undelivered mail, you may no longer qualify for the program until your information has been updated and you meet all applicable requirements.
Make payments on time each month
Have qualifying vehicle insurance
Verify your current email, phone number, and address every 6 months
Opt-in to receive electronic communication
Opt-in to go paperless
Set up automatic payments with AutoPay
