Chase said NO to APR reduction

[andre181]

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@boomhower wrote:

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@android01 wrote:

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@crunching_numbers wrote:

I called Chase to see if they would reduce the APR on the Freedom card that I have had since 2009.  They told me no, and that the only APR reductions they are doing at this time are for people that had their APR's increased.  He told me to try back in 4-6 months, and that maybe something might have changed by then.  I have hardly any balance on the card at this time either. I just wanted a little love.

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I've been trying for at least three years to have Chase reduce the APR on a converted WAMU card that I turned into a Sapphire.  It got rate jacked when Chase took over WAMU.  They keep telling me to call back in six months.  The APR is the default rate of 29.99%.  It's a 15 year old account that I'd rather not close.  Just to see what would happen, I applied for a JP Morgan Select card and I was approved.  The APR on that card is 13.24% (the only rate available on this card).  I called Chase up a couple weeks ago to for my umpteenth request for an APR reduction and they STILL said no, even though it was very apparent to them that I had the Select card with a much lower rate.  So, my Sapphire sits in the SD and get's a $19 recurring charge to it every month. 

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Same here.  I converted my WAMU card to a Freedom.  They jacked my rate to 28.24% when they took it over.  I know it will never change.  I dealt with the executive office on a CLI which was successful in the end.($1k->$5k) But even they said no dice to an APR reduction.

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Same here too. They converted my WaMu card that was 12.49% to 24.24% and converted it to a Freedom. It is now SD'd with a $9/month reoccuring charge, and it will not get anymore use until they lower it.

I've called multiple times and get the same story that they review accounts periodically blah blah blah. It bugs me because I'm constantly getting preapprovals for a new Freedom card in the mail with an APR of 13.99%. 

I hate Chase.

[crunching_numbers]

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@andre181 wrote:

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@boomhower wrote:

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@android01 wrote:

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@crunching_numbers wrote:

I called Chase to see if they would reduce the APR on the Freedom card that I have had since 2009.  They told me no, and that the only APR reductions they are doing at this time are for people that had their APR's increased.  He told me to try back in 4-6 months, and that maybe something might have changed by then.  I have hardly any balance on the card at this time either. I just wanted a little love.

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I've been trying for at least three years to have Chase reduce the APR on a converted WAMU card that I turned into a Sapphire.  It got rate jacked when Chase took over WAMU.  They keep telling me to call back in six months.  The APR is the default rate of 29.99%.  It's a 15 year old account that I'd rather not close.  Just to see what would happen, I applied for a JP Morgan Select card and I was approved.  The APR on that card is 13.24% (the only rate available on this card).  I called Chase up a couple weeks ago to for my umpteenth request for an APR reduction and they STILL said no, even though it was very apparent to them that I had the Select card with a much lower rate.  So, my Sapphire sits in the SD and get's a $19 recurring charge to it every month. 

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Same here.  I converted my WAMU card to a Freedom.  They jacked my rate to 28.24% when they took it over.  I know it will never change.  I dealt with the executive office on a CLI which was successful in the end.($1k->$5k) But even they said no dice to an APR reduction.

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Same here too. They converted my WaMu card that was 12.49% to 24.24% and converted it to a Freedom. It is now SD'd with a $9/month reoccuring charge, and it will not get anymore use until they lower it.

I've called multiple times and get the same story that they review accounts periodically blah blah blah. It bugs me because I'm constantly getting preapprovals for a new Freedom card in the mail with an APR of 13.99%. 

I hate Chase.

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My original card was either an Overstock Visa or an Airtran Visa (I can't remember which) that they converted to a Freedom card. My rate is not even really bad, just not as good as it could be. I am at 16.24%. Freedom officially starts at 12.99% and goes to 22.99% on the new applicants. 

As far as my advice to YOU andre181, I would try to apply for the Freedom MC instead of the VISA you probably have. They will issue one of each I think. Get a Freedom card at a better rate, and SD the high rate one with the good aging.

[TM82]

I don't see what all the hate is about with interest rates. Chase is a very strange company when it comes to their credit offerings. They won't consumer CLI most often without a pull and even then sometimes only gives a few hundred increase. I started with a Freedom back in 2010 with them with a CL at 2,000 and a rate of 23.24. Even after putting through close to 35,000 in a year and having to pay weekly at times to keep my balances in check they gave me an auto CLI to 2,300. I added an Amazon 6months later that sits at 1,500. 7 months after that got a Sapphire Preferred at 5,000 line and 15.24. Original cards stayed the same in terms of rate and limits. And finally a week ago got the Palladium at 15,000 @ 13.24. Moral of the story is to PIF and neglect whatever the interest rate is, Chase will often not give you a decent CLI in an existing card but will willingly give you a new card, and they'll openly extend you credit if you're a qualified borrower. I went from having total CLs with them of $2,000 -> 3,500 -> 3,800 -> 8,800 -> 23,800 all while adding two car leases. And I still haven't heard the excuse that some CC companies say that you have too much available credit.

[android01]

Your story is the perfect example of YMMV.  Congrats on the Palladium.  I thought about it but couldn't jusitfy the AF.  

[crunching_numbers]

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@TM82 wrote:
@I don't see what all the hate is about with interest rates. Chase is a very strange company when it comes to their credit offerings. They won't consumer CLI most often without a pull and even then sometimes only gives a few hundred increase. I started with a Freedom back in 2010 with them with a CL at 2,000 and a rate of 23.24. Even after putting through close to 35,000 in a year and having to pay weekly at times to keep my balances in check they gave me an auto CLI to 2,300. I added an Amazon 6months later that sits at 1,500. 7 months after that got a Sapphire Preferred at 5,000 line and 15.24. Original cards stayed the same in terms of rate and limits. And finally a week ago got the Palladium at 15,000 @ 13.24. Moral of the story is to PIF and neglect whatever the interest rate is, Chase will often not give you a decent CLI in an existing card but will willingly give you a new card, and they'll openly extend you credit if you're a qualified borrower. I went from having total CLs with them of $2,000 -> 3,500 -> 3,800 -> 8,800 -> 23,800 all while adding two car leases. And I still haven't heard the excuse that some CC companies say that you have too much available credit.

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My CL was higher before the credit crunch, but the balance was high at the time they balanced chased DH and my cards, and that actually PRESERVED most of my CL. You are right about new cards though. Now I only owe Freedim like $250. I apped last month for a Hyatt card and they gave me a generous CL on the new card.  (CL's in sig)