Capital One...LOWERED my interest rate?

[CreditCrusader]

In my case, that's a big fat YES!

My interest rate (standard Cap1 Platinum steps card) has always been 22.9%. I checked my statement dated 5/27 and they have lowered it to 16.9%. I didn't even know they could count that low for a rebuilder card!

I would ask why, but I really don't care at this point. They have both increased my CL and lowered my interest during the past year...oh, and they credit my AF like clockwork. Sure, I use the h*ll out of that card, but I feel it's good form on their part nevertheless

Edited to include:

OK, so I have to push them a little to credit the AF

[LS2982]

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@CreditCrusader wrote:

In my case, that's a big fat YES!

My interest rate (standard Cap1 Platinum steps card) has always been 22.9%. I checked my statement dated 5/27 and they have lowered it to 16.9%. I didn't even know they could count that low for a rebuilder card!

I would ask why, but I really don't care at this point. They have both increased my CL and lowered my interest during the past year...oh, and they credit my AF like clockwork. Sure, I use the h*ll out of that card, but I feel it's good form on their part nevertheless

Edited to include:

OK, so I have to push them a little to credit the AF

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Thats incouraging news for Cap1 cardholders!

[pizzadude]

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@CreditCrusader wrote:

In my case, that's a big fat YES!

My interest rate (standard Cap1 Platinum steps card) has always been 22.9%. I checked my statement dated 5/27 and they have lowered it to 16.9%. I didn't even know they could count that low for a rebuilder card!

I would ask why, but I really don't care at this point. They have both increased my CL and lowered my interest during the past year...oh, and they credit my AF like clockwork. Sure, I use the h*ll out of that card, but I feel it's good form on their part nevertheless

Edited to include:

OK, so I have to push them a little to credit the AF

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Congrats !  I think Cap1 throws a bone to a few lucky people every so often, so it looks like you're a winner !!   What is your CL on the card now and how much have they increased it ?

[CreditChampion]

How long have you had the card?

[Anonymous]

Congrats! I hope to see the same success with them closer to my 1 yr mark

[remarc]

I think if you check your letter and I could be wrong but they are offering to lower your APR for 6 months and then it will return back to normal. They offered me this when I called them most recently..

Not much of an offer if you ask me. 

If you did get a permanent lower APR.. Very much congrats

[Anonymous]

I actually would be really interested if what remarc said turns out to be accurate.  I would not put it past Cap1, but as has been stated already, they do occasionally throw out bones...  I guess there are some people at Cap1 that actually know and do their jobs?

[CreditCrusader]

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@pizzadude wrote:

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@CreditCrusader wrote:

In my case, that's a big fat YES!

My interest rate (standard Cap1 Platinum steps card) has always been 22.9%. I checked my statement dated 5/27 and they have lowered it to 16.9%. I didn't even know they could count that low for a rebuilder card!

I would ask why, but I really don't care at this point. They have both increased my CL and lowered my interest during the past year...oh, and they credit my AF like clockwork. Sure, I use the h*ll out of that card, but I feel it's good form on their part nevertheless

Edited to include:

OK, so I have to push them a little to credit the AF

---

Congrats !  I think Cap1 throws a bone to a few lucky people every so often, so it looks like you're a winner !!   What is your CL on the card now and how much have they increased it ?

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CL is now $1,500...began at $500, stepped to $750.

To the others, I have had the card for coming up on 2 years now. With regards to the APR being temp, I called both their CSR and backdoor reps...both have verified that it will be the interest rate moving forward...nothing temp about it.

Of course, they can always bump it up down the road if they want to...all card issuers can. In the meantime, I'll enjoy this for what it is...an unexpected blessing