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Chase Credit Line Increase and Apr Reduction

Valued Contributor

Re: Chase Credit Line Increase and Apr Reduction

You might get a CLI, but I highly doubt an APR reduction with Chase.

Message 11 of 22
Frequent Contributor

Re: Chase Credit Line Increase and Apr Reduction

I wrote to Chase EO last year as both of my Freedoms APR's were around 28%. They dropped one down to 9.99% and the other to 12.99% and even credited me back interest to the tune of like $300+

Message 12 of 22
Senior Contributor

Re: Chase Credit Line Increase and Apr Reduction

I've never had any luck getting them to budge on the APR.

 

I'm morbidly curious what it's based upon. My gut says it's set that high to offset any possible cash-back/rewards the second someone carries a balance, LOL!

 

The above being said, I find it off-putting that 750+ scores and perfect credit history aren't worthy of a better rate. In their defense, I do have student loans. Smiley Happy


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 13 of 22
Valued Contributor

Re: Chase Credit Line Increase and Apr Reduction

I think it really depends on which cards you have from chase. From what I've read and IME, chase's standard apr is 15.24% especially for their rewards cards like the CSP. I've had my Amazon card since 2008 and they won't go lower than 15.24. I don't think the CSP is intended for those who aren't going to be PIF anyways. Now for the slate and the freedom, those offer lower aprs - I have 12.99 on freedom and 11.99 on slate. That's after the intro 0% period. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 14 of 22
Senior Contributor

Re: Chase Credit Line Increase and Apr Reduction

17.99% on my Freedom. It has a small revolving charge and is tied to another account. Once I'm caught up on a few more pressing matters, I'm going to set up the revolving charge to auto-pay, change funding source for the other account, and SD Freedom for good or until there's an auto-CLI, LOL!


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 15 of 22
Super Contributor

Re: Chase Credit Line Increase and Apr Reduction

You can just call the CSR number on the back of the card and ask to see if you qualify for an APR reduction.

Some people did that and it worked. I tried to ask for a lower APR on my Chase Amazon and CSR said she couldn't do it for me, and offered to refund some interests as a courtesy, but then she noticed I haven't been charged interests at all since I PIF, so not like it matters. 

 

You could also call EO. They're more negotiable to talk to.

 

As for CLI, you can call CSR, lending department (recons) or EO. All of them can do it for you and 99.9% of the time it is a HP.

 

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 16 of 22
Regular Contributor

Re: Chase Credit Line Increase and Apr Reduction

I contacted Chase EO for APR reduction and haven't heard back in 3 days so I decided to see if Discover would lower my apr. Huge reduction! 17.99 to 17.24....

 

Thank you for your patience. Due to your outstanding membership with us I am excited to confirm there is a lower rate available. Please keep in mind that your existing balance was formed under the agreement of your current rate therefore we are unable to alter it. With that in mind I can reduce your rate on new purchases to 17.24% variable. Would you like me to apply this rate to your account?

Message 17 of 22
Valued Contributor

Re: Chase Credit Line Increase and Apr Reduction

I requested and received a CLI at 3 months with Chase, however it will be a hard pull if you are approved.  1500 -> 5000.

Message 18 of 22
Established Contributor

Re: Chase Credit Line Increase and Apr Reduction


Involver wrote:

I requested and received a CLI at 3 months with Chase, however it will be a hard pull if you are approved.  1500 -> 5000.

 

 

This statement has to be false. It's not a SP if you get denied is it?

 

 photo myfico_zpsd00088cb.jpg
Message 19 of 22
New Contributor

Re: Chase Credit Line Increase and Apr Reduction

Sheesh reading this thread makes me never want to cancel my Sapphire. Have no idea how, but it has a 10.24% APR and only 2% BT fees vs the regular 3%. 

Message 20 of 22