topic Re: Discover APR Reduction in Credit Cards

Discover APR Reduction UPDATE

vsweetee1 — Sun, 07 Oct 2012 03:54:42 GMT

So I've been working on my credit for the last 3 years and have made great progress! Thank you "My Fico" :smileyhappy: I applied for Discover last year at the end of July and was approved with a $1500 cl and APR of 20.99%. At the time I applied there was a 12 month 0% promotion as well. This is also the last cc I've applied for and I have been in the garden since. So anyway I've never received an auto cli and I waited till August to call and ask for an APR reduction as I have high utilization and figured they wouldn't do a limit increase. The agent I spoke with said she could NOT reduce my APR w/o pulling my credit report but that she could extend my 0% promotion for another year. I took it! Well got my statement today and the APR was changed to 15.99%, I panicked and thought they didn't honor the 0% so I called. Well the agent said yes I am getting the 0% promotion till next Oct (2013) and that the APR was changed October 1st from 20.99 to 15.99%. Woo Hoo! It may still seem high but its certainly better than 20.99%. I just wanted to give back to my fico by sharing my story! Good luck my fico comrades and there is hope, it just takes time and patience but the results get better eventually. :smileyvery-happy:

Re: Discover APR Reduction

firesoul453 — Sat, 06 Oct 2012 05:28:09 GMT

Thats awesome! I'll definetly have to remeber its possible to extend the into 0% apr!

Congrats!

Re: Discover APR Reduction

kwazziee — Sat, 06 Oct 2012 05:30:25 GMT

Sweet! I will keep this in mind. Just got y Dsicover card last week with a 15 month 0%. Will try this for sure when the time comes.

Re: Discover APR Reduction

AZHeather — Sat, 06 Oct 2012 05:40:33 GMT

Nice!! I love my Discover card!

Re: Discover APR Reduction

Imua — Sat, 06 Oct 2012 06:02:19 GMT

awesome!!! 2-for-1 :)

Re: Discover APR Reduction

aplast — Sat, 06 Oct 2012 06:05:05 GMT

I will have to remember this for sure! How cool. Thanks for sharing with us!

Re: Discover APR Reduction

maiden_girl — Sat, 06 Oct 2012 06:54:52 GMT

Awesome APR extension!

Re: Discover APR Reduction

score_building — Sat, 06 Oct 2012 07:13:18 GMT

Good going!! Nice results :smileywink:

Re: Discover APR Reduction

migliogiorni — Sat, 06 Oct 2012 07:34:49 GMT

Never knew CC companies could or would be willing to do that. Ima try that one when my promo period expires, thanks.

Re: Discover APR Reduction

score_building — Sat, 06 Oct 2012 09:00:23 GMT

migliogiorni wrote:
Never knew CC companies could or would be willing to do that. Ima try that one when my promo period expires, thanks.

Wouldn't count on it though, sounds like mileage may vary, not a sure thing.

Re: Discover APR Reduction

RockinRay — Sat, 06 Oct 2012 12:46:06 GMT

After reading this thread, I logged in and checked my IT account.

They gave me a rate reduction (auto) from 16.99 to 10.99%. Nice...

Guess I will give them some business!

Re: Discover APR Reduction

SpiceIslander — Sat, 06 Oct 2012 16:00:08 GMT

Absolutely great! Congrats and thanks for sharing that!

Re: Discover APR Reduction UPDATE

vsweetee1 — Sun, 07 Oct 2012 03:57:29 GMT

vsweetee1 wrote:
So I've been working on my credit for the last 3 years and have made great progress! Thank you "My Fico" :smileyhappy: I applied for Discover last year at the end of July and was approved with a $1500 cl and APR of 20.99%. At the time I applied there was a 12 month 0% promotion as well. This is also the last cc I've applied for and I have been in the garden since. So anyway I've never received an auto cli and I waited till August to call and ask for an APR reduction as I have high utilization and figured they wouldn't do a limit increase. The agent I spoke with said she could NOT reduce my APR w/o pulling my credit report but that she could extend my 0% promotion for another year. I took it! Well got my statement today and the APR was changed to 15.99%, I panicked and thought they didn't honor the 0% so I called. Well the agent said yes I am getting the 0% promotion till next Oct (2013) and that the APR was changed October 1st from 20.99 to 15.99%. Woo Hoo! It may still seem high but its certainly better than 20.99%. I just wanted to give back to my fico by sharing my story! Good luck my fico comrades and there is hope, it just takes time and patience but the results get better eventually. :smileyvery-happy:

UPDATE:

OMGosh!! :smileysurprised:

Went to do some online shopping thru shop Discover for the extra 2% and my account said this! I immediately logged out and logged back in and it said the same thing! I then restarted my computer to be sure there wasn't a glitch of some kind and nope still had the same info! Auto cli! Unbelievable!

Current Balance	$605.34
Last Statement Balance	$605.34
Minimum Payment Due 11/01	$ 40.00
Credit Line Available	$ 6,894.00
Credit Line	$ 7,500

This is the info from my statement yesterday:

Opening Date: Sep 5, 2012 - Closing Date: Oct 4, 2012

Credit Line $ 1,500.00

Credit Line Available $ 894.00

Cash Advance Credit Line $ 200.00

Cash Advance Credit Line Available $ 200.00

Do you think Discover realizes they did this for me??? I'm sure not calling to confirm, why ask the devil to dance? BTW if they did this based on Transunion then that's my best report with no baddies, no inquiries, high utilization on 2 NFCU cards (50%) and a Fico of 725 according to WM.

Re: Discover APR Reduction UPDATE

migliogiorni — Sun, 07 Oct 2012 04:02:12 GMT

dayuumm, I wouldn't call, do the happy dance!!! very nice

Re: Discover APR Reduction UPDATE

migliogiorni — Sun, 07 Oct 2012 04:03:48 GMT

How much did you put on the card? before the CLI?

Re: Discover APR Reduction UPDATE

vsweetee1 — Sun, 07 Oct 2012 04:09:15 GMT

Not much probably anywhere from $100-$400 but in September we went to Sea World and I charged the down payment for 5 Disneyland passes for the 5% themepark category which by the way they didnt count for 5%. Disneyland coded it as an annual payment and not amusement parks but I did call and ask about that and the CSR adjusted my cash back for it. So in September I ran about 1085 thru it.

Re: Discover APR Reduction UPDATE

creditdreamera — Sun, 07 Oct 2012 05:30:48 GMT

Amazing! APR reduction and $6000 increase?? :smileysurprised:

Re: Discover APR Reduction UPDATE

youngandcreditwrthy — Sun, 07 Oct 2012 05:36:17 GMT

WOW!!!!!!!! Congrats!!!!

I can't wait to let my new Discover card grow...
And the fact that you got a 0% extension,cli, and overall apr reduction... AMAZING!!!
I'll def remem to garden with Discover :-)

Re: Discover APR Reduction UPDATE

tinuviel — Sun, 07 Oct 2012 16:59:33 GMT

vsweetee1 wrote:
vsweetee1 wrote:
So I've been working on my credit for the last 3 years and have made great progress! Thank you "My Fico" :smileyhappy: I applied for Discover last year at the end of July and was approved with a $1500 cl and APR of 20.99%. At the time I applied there was a 12 month 0% promotion as well. This is also the last cc I've applied for and I have been in the garden since. So anyway I've never received an auto cli and I waited till August to call and ask for an APR reduction as I have high utilization and figured they wouldn't do a limit increase. The agent I spoke with said she could NOT reduce my APR w/o pulling my credit report but that she could extend my 0% promotion for another year. I took it! Well got my statement today and the APR was changed to 15.99%, I panicked and thought they didn't honor the 0% so I called. Well the agent said yes I am getting the 0% promotion till next Oct (2013) and that the APR was changed October 1st from 20.99 to 15.99%. Woo Hoo! It may still seem high but its certainly better than 20.99%. I just wanted to give back to my fico by sharing my story! Good luck my fico comrades and there is hope, it just takes time and patience but the results get better eventually. :smileyvery-happy:

UPDATE:
OMGosh!! :smileysurprised:
Went to do some online shopping thru shop Discover for the extra 2% and my account said this! I immediately logged out and logged back in and it said the same thing! I then restarted my computer to be sure there wasn't a glitch of some kind and nope still had the same info! Auto cli! Unbelievable!
Current Balance $605.34
Last Statement Balance $605.34
Minimum Payment Due 11/01 $ 40.00
Credit Line Available $ 6,894.00
Credit Line $ 7,500

This is the info from my statement yesterday:

Opening Date: Sep 5, 2012 - Closing Date: Oct 4, 2012

Credit Line $ 1,500.00
Credit Line Available $ 894.00
Cash Advance Credit Line $ 200.00
Cash Advance Credit Line Available $ 200.00

Do you think Discover realizes they did this for me??? I'm sure not calling to confirm, why ask the devil to dance? BTW if they did this based on Transunion then that's my best report with no baddies, no inquiries, high utilization on 2 NFCU cards (50%) and a Fico of 725 according to WM.

Woo, hoo!!!!! Congrats!!! :D

Re: Discover APR Reduction UPDATE

shakalaka — Sun, 07 Oct 2012 17:01:27 GMT

Awesome, this is one nice CLI :smileyvery-happy: