Discover APR Reduction (By mail)

[HeilFico]

I recently requested an APR reduction with Discover. I just received the letter today and intend to fill it out and send it in. My only issue is there is a stipulation on the form that states the account must be active for at least 12mos. I've only had them for 7 so 5 months until the 1yr anniversary. Has anyone that went with the mail-in route been successful with a sub 12 month account? I called cs this afternoon and raised this concern. While I received excellent support, she still seemed a little confused as to if it would work. I'm sending it either way I'm just trying to gauge success/failures.

Thanks!

[mxp114]

The form is only mailed to eligible accounts, otherwise the letter would say that your account hasn't been opened long enough, is at the lowest rate available, etc. So it's a good sign and I'm sure you will get a reduction. The wording is probably just outdated.

[09Lexie]

Interesting. I requested one and received the form. I've only had my card since January, guess I better send it back.

[gdub]

I also received the form and mailed it back and was given an APR reduction from Discover, and I had the same confusion over that statement about the 12 months. I believe if you re-read it, you may find it actually says the card has NOT been active for 12 months, meaning it is less than a year old. The wording is confusing but I'm pretty sure that's what it says when you really decipher their wording. I don't have the form any more to remember exactly what it said since I mailed it back already.

[Justin9825]

I had the same confusion just this last month. Requested lower APR but account was only open for 9 or so months. Sent form back anyways. Recieved message in online account that my APR had been reduced from 22.9 to 16.99. Not as low as I wanted but been rebuilding my credit for a while so nice to have a card not over 20 APR.

[09Lexie]

I just dropped mine off at the post office. Fingers crossed.

[HeilFico]

Thanks for the quick replies! I'll be sending mine off tomorrow.

[09Lexie]

Good luck!

[09Lexie]

***UPDATE****

Had two emails this morning from Discover. The first one congratulating me and lowering my APR to 16.99%. The second one lowering my APR to 14.99%. Obviously, I'll be keeping an eye on my statements.

Thanks again mxp for clarifying their badly worded form!

[john398]

Congrats Lexie thats an Awesome APR