Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 277
Registered: ‎05-27-2009
0

Chase Freedom Lower Interest?

[ Edited ]

I opened a Chase Freedom card in December 2011. It has a $2000 limit and ridiculous interest rate 22.9%. The sad part is that it has the lowest interest rate on any of my cards. I never cared about the interest rate too much because I never carried a balance. Well, I'm carrying a balance now, just on this card. Smiley Embarassed and want to try to lower the interest rate. 

 

I'm not sure what my FICO score is right now, but I think it's higher than what it was when I opened the account .

 

How is Chase with lowering interest rates? I don't care that much about a hard pull right now.

 

Would I have more of a shot with Capital One?

Current Cards: Banana Republic Visa ($5,300), Chase Freedom ($2,000), Discover It ($11,500), Amex Costco True Earnings ($5,000), Chase Slate ($2,500)
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

Re: Chase Freedom Lower Interest?

Ckeck out your FAKO on credit karma. Let us know the stats on your report. Utilization, AAoA, ect.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

Re: Chase Freedom Lower Interest?

Depending on your credit profile info, you might be able to get a low interest card or a card with an intro apr.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Valued Contributor
Posts: 2,110
Registered: ‎12-29-2011
0

Re: Chase Freedom Lower Interest?

You never know until you call. Given you are already a customer, Chase should have no problem lowering your APR for a period to give you time to pay off your balances.

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






Established Contributor
Posts: 643
Registered: ‎07-29-2010
0

Re: Chase Freedom Lower Interest?

Good luck!

 

Right before the CARD Act went into effect, Chase raised the APR on my Freedom from 12.24% to 24.24% for no reason, and almost 2 years later its still at 24.24% and they refuse to lower it when I call and ask.

 

That card is now SD'd and hasn't been used in over a year and a half. They can close it for non-usage for all I care.

Discover IT $35K | FNBO Visa $30K | Cash+ Visa Sig $19.5K | Southwest Premier $16K | Priceline $15K | Citi Forward $14.3K | US Bank Plat $14K | Commerce Bank $13K | CSP $13K | CSR $10K | Sallie Mae World MC $10K | Lowe’s Consumer 10K | BoA Cash Rewards 1-2-3 Sig $7.5K | Fidelity Visa $7K | Citi Double Cash $6.5K | WF Cash Back Visa $5.4K | Capital One Cash Rewards $5K | AMEX BCE $3.9K | Freedom $2.5K | Younkers/Comenity $2.4K | Kohl’s 1.5K | Target $1.4K | EX FICO (from AMEX): 768, TU FICO (from Discover): 797, AAoA: 4.4 years
Frequent Contributor
Posts: 358
Registered: ‎06-25-2012
0

Re: Chase Freedom Lower Interest?


JustMe77 wrote:

How is Chase with lowering interest rates? I don't care that much about a hard pull right now.

 

Would I have more of a shot with Capital One?


Chase will NOT touch your interest rate. Right before the CARD Act passed, they switched most people from lower, fixed APRs to higher, variable APRs to protect themselves. They review accounts every 6 months to see if they qualify for an APR reduction, but the only reductions they actually grant are for people with the penalty APR who have since brought their account into good standing.

 

You would absolutely have more of a shot with Capital One. I have had luck getting my interest rate temporarily and permanently reduced on more than one occasion with them. Discover is also good about temporary and permanent APR reduction.

Highlighted
Valued Contributor
Posts: 1,621
Registered: ‎09-15-2012
0

Re: Chase Freedom Lower Interest?

If the balance is going to stay for a while, you might want to consider a 0% Balance Transfer offer from another card issuer.  You said that the HP doesn't bother you, so why not find another card?  I don't know of an issuer off the top of my head with a 12 or 15 month 0% Balance Transfer offer, but I'm sure others can help you out with that.


In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Senior Contributor
Posts: 6,279
Registered: ‎08-16-2012
0

Re: Chase Freedom Lower Interest?

Id ask em to lower it.. Maybe call the backdr num
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.