Valued Contributor
Posts: 2,205
Registered: ‎12-06-2007

Re: Any tips on how to get a rate reduction from Chase and Discover

haulingthescoreup wrote:

armywifey85 wrote:

USAA is giving out 4% right now guess the credit crisis isn't hurting them thank god !!

FWIW, I just got a letter from them yesterday saying that they were raising the basic rate on all their cards to 11.99%, and that it was unrelated to the status of one's individual credit.


I got the same exact letter. It is only for my MC and not my Amex (yet) I called today to get property insurance and asked a few questions concerning this letter when they transferred me. She said my Amex is new, so it may eventually end up with the higher apr. Right now it is prime +3.99
Senior Contributor
Posts: 3,578
Registered: ‎01-10-2008

Re: Any tips on how to get a rate reduction from Chase and Discover

javi84 wrote:

Thanks, I gave it a try and Chase gave me the usual "we're sorry but that's the lowest we can offer, call back in a few months". Discover was more helpful, they lowered it from 16.99% to 14.99%. Not a whole lot but definately helpful.



congrats!  even a modest reduction can help you pay down faster.  if you continue to make good progress you may find you are able to receive further reductions over time.


you mentioned that you were submitting a rate reduction request for the first time, how long have you had your discover card?  were you required to fill out a form receieved by snail mail in order to complete your apr reduction request as indicated by PP.

06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+