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Capital One Automatically Lowered my APR!!

Established Member

Capital One Automatically Lowered my APR!!

My January statement included the following love note from Capital One:

 

Good News: Because of your on-time payment history, some or all of your Annual Percentage Rates

(APRs) have been returned to your Non-Introductory Rate. 

 

My purchase APR went from 23.15% to 7.79% AND they lowered the APR on my prior balance transfer from 23.15% to 3.99%.  This was after 12 months of on-time payments.

 

...and I didn't even have to ask! Smiley Very Happy


Starting Score (6/9/09): TU 610 | EQ 600
Current Score (04/12/2016): TU 820 | EQ 816
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Message 1 of 25
24 REPLIES
Senior Contributor

Re: Capital One Automatically Lowered my APR!!

Wow!  And Congrats!

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 2 of 25
Moderator Emeritus

Re: Capital One Automatically Lowered my APR!!

Great news!!!  That doesn't seem to happen very often.
Message 3 of 25
Senior Contributor

Re: Capital One Automatically Lowered my APR!!

Very nice! Congratulations!
Message 4 of 25
Senior Contributor

Re: Capital One Automatically Lowered my APR!!

that's a nice decrease, congrats!
DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 5 of 25
Established Contributor

Re: Capital One Automatically Lowered my APR!!


tracynva wrote:

My January statement included the following love note from Capital One:

 

Good News: Because of your on-time payment history, some or all of your Annual Percentage Rates

(APRs) have been returned to your Non-Introductory Rate. 

 

My purchase APR went from 23.15% to 7.79% AND they lowered the APR on my prior balance transfer from 23.15% to 3.99%.  This was after 12 months of on-time payments.

 

...and I didn't even have to ask! Smiley Very Happy


 

Hi and congrads. I posted about this happening to me about a month ago. Lowered mine 12.90% from 23.15%.  I just cant get them to give me a cli.

Starting Score: EQ: 633 (12/31/09) TU: 651 (12/31/09)
Current Score: EQ:633 TU: 651
Goal Score: EQ: 700 TU:700


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Message 6 of 25
Super Contributor

Re: Capital One Automatically Lowered my APR!!

Congratulations.  Capital One is becoming the newest Credit Union in a sense.  They're very competitive. 
Message 7 of 25
Senior Contributor

Re: Capital One Automatically Lowered my APR!!


DI wrote:
Congratulations.  Capital One is becoming the newest Credit Union in a sense.  They're very competitive. 
Smiley Surprised 

 

 

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 8 of 25
Frequent Contributor

Re: Capital One Automatically Lowered my APR!!

Congrats!!

AMEX Platinum NPSL | AMEX Zync NPSL | AMEX Delta Platinum $4000 | Travelocity Amex $4000 | CapOne No Hassle Rewards $2500 | BBRZ MC $800 | Local CU Visa $1000 | Kay $2000 | Citi Hilton HHonors Reserve $5000 | Chase Marriott Rewards $5000 | BankAmericard Travel Rewards Visa $7000 | Discover IT $1000
In the garden until 10/2014
Message 9 of 25
Senior Contributor

Re: Capital One Automatically Lowered my APR!!


DI wrote:
Congratulations.  Capital One is becoming the newest Credit Union in a sense.  They're very competitive. 

NOT!

 

I can't recall the last time I saw a post decrying a CU for CC that was stuck perpetually at a low CL by design or pulling three hard INQ's for an app as a matter of policy.

Message 10 of 25