Chase APR Reduction

[Anonymous]

Cool ... that your Mom received such a large Apr reduction! Impressive.

[navigatethis12]

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@Shock wrote:

Aside from UR, I still dont see why Chase is so sought after.

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High limits and good rewards(Freedom, Amazon, and Ink) is why I like them. A lot of people go after there partner(travel) cards, which they seem to have many of. Opinions differ for everyone, so I'm sure more people agree with you. I really don't see why everyone swoons over American Express, but then there are plenty of people who will come up with reasons that are good for them.

[Shock]

I don't think they're really customer oriented. A cardholder could be miserable for years and they coouldnt care. Practically a double pull per app, hell bent on HP CLI's, no customer initiated APR reductions, etc.

[navigatethis12]

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@Shock wrote:

I don't think they're really customer oriented. A cardholder could be miserable for years and they coouldnt care. Practically a double pull per app, hell bent on HP CLI's, no customer initiated APR reductions, etc.

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I've not experienced getting two inquiries for an application, but I always have them locked, so that could be why. The credit limit increases have always been a hard inquiry for me, but they've been worth it. One was a 5000 increase and the next was 4000 more one week later. I've never asked and never will ask for reduction of the rate, so I don't know. Anyway, they're just one of many, so not having them isn't that bad. In my opinion, they have the best sign up bonuses with the least amount of spending.

[ACsteel]

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@Shock wrote:

I've read a couple threads lately about Chase not budging on their APR so I'd thought Id share this here.

My mom's Freedom APR was lowered from 21.24 to 14.24. 

Presumably they reviewed her account and did it automatically. I know she never carries a balance and shes' had her card for a few years. She isn't really educated in credit but she's one of those whos scared to death of interest, an I know she pay's everything in full. Don't know any other variables except she didn't ask for it. So for those who want it lowered, theres hope!

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Pretty good insight, thanks for sharing!

[Cleanmachine]

Received a letter today from Chase regarding my Slate Card informing me that they lowered

my APR from 17.24% to 13.24% for current purchase balance and new purchase transactions.

Very seldom use this card due to the high APR and never requested a reduction.

Wonders will never cease.

[maiden_girl]

I wonder if Chase would do this for me? Planning on carrying a balance for 2 months.

[rewardsguy]

Chase has great rewards and large sign up bonuses. To balance the sheets they have to offset those losses with higher APRs. In fact, looking at their list of cards they have some of the highest APRs among large banks.

[kevinjjc]

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@Cleanmachine wrote:

Received a letter today from Chase regarding my Slate Card informing me that they lowered

my APR from 17.24% to 13.24% for current purchase balance and new purchase transactions.

Very seldom use this card due to the high APR and never requested a reduction.

Wonders will never cease.

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Congrats! Thanks for sharing the good news. It looks like Chase is automatically lowering the APR for many cardholders.

[kevinjjc]

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@navigatethis12 wrote:

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@Shock wrote:

I don't think they're really customer oriented. A cardholder could be miserable for years and they coouldnt care. Practically a double pull per app, hell bent on HP CLI's, no customer initiated APR reductions, etc.

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I've not experienced getting two inquiries for an application, but I always have them locked, so that could be why. The credit limit increases have always been a hard inquiry for me, but they've been worth it. One was a 5000 increase and the next was 4000 more one week later. I've never asked and never will ask for reduction of the rate, so I don't know. Anyway, they're just one of many, so not having them isn't that bad. In my opinion, they have the best sign up bonuses with the least amount of spending.

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Same here, no double pull for a new credit app ... credit was not locked/frozen. Chase probably double pulls for borderline apps.