Discover APR reduction?

[MACFRME]

My fiancee opened a Discover card that we use, and the intro APR is set to run out in in June of 2014. We sometimes carry a balance on the card, and they said that the ongoing rate will be 22.9% (Ouch!). Has anyone had success getting them to reduce their rate?

[09Lexie]

---

@MACFRME wrote:
My fiancee opened a Discover card that we use, and the intro APR is set to run out in in June of 2014. We sometimes carry a balance on the card, and they said that the ongoing rate will be 22.9% (Ouch!). Has anyone had success getting them to reduce their rate?

---

Yes, you can request an APR reduction every 6 mos

[azguy13]

---

@09Lexie wrote:

---

@MACFRME wrote:
My fiancee opened a Discover card that we use, and the intro APR is set to run out in in June of 2014. We sometimes carry a balance on the card, and they said that the ongoing rate will be 22.9% (Ouch!). Has anyone had success getting them to reduce their rate?

---

Yes, you can request an APR reduction every 6 mos

---

That does not take the place of asking for a CLI, does it? I would assume not, but you never know.

[MACFRME]

Thanks 09Lexie!

[09Lexie]

---

@azguy13 wrote:

---

@09Lexie wrote:

---

@MACFRME wrote:
My fiancee opened a Discover card that we use, and the intro APR is set to run out in in June of 2014. We sometimes carry a balance on the card, and they said that the ongoing rate will be 22.9% (Ouch!). Has anyone had success getting them to reduce their rate?

---

Yes, you can request an APR reduction every 6 mos

---

That does not take the place of asking for a CLI, does it? I would assume not, but you never know.

---

No, it will not take the place of a CLICLI

[lg8302ch]

---

@09Lexie wrote:

---

@MACFRME wrote:
My fiancee opened a Discover card that we use, and the intro APR is set to run out in in June of 2014. We sometimes carry a balance on the card, and they said that the ongoing rate will be 22.9% (Ouch!). Has anyone had success getting them to reduce their rate?

---

Yes, you can request an APR reduction every 6 mos

---

great...that is good to know. I tried it at the end of my 14months 0% promo and it of course got declined ..expected as CLI was also declined at that stage...so will try again in 6 months and keep on doing so every 6 months until it moves from 17,99% to the targeted 10,99%.. ha ha... Good luck OP

[Kenny]

I also want to put it out there that they sometimes have offers for you to have a 0% for 6 months as well if anyone already has the lowest APR offered.

[TrueGeminiNC]

When I first opened my account, I did not qualify for the advertised 6 month 0% interest rate promo.  

Discover countered with a 1K limit, 3 month teaser 0% intro rate and a rate of upwards of 20% therafter.  The first few months I ran thousands of dollars in charges through the card and paid it off before the billing cycle closed.  I was able to utilize this as leverage to score a 5K credit limit increase at 90 days.  

Unfortunately, they have not been so forgiving with the intrest rate.  I have requested a lower interest rate on several occassions.  The last representative suggested that I try again when my account is 1 year old.  In the interim, every other month I use the card for a big purchase and then pay the balance in full.  I refuse to pay a +20% intrerest rate.  

[WillTeasle]

---

@JAY305 wrote:

When I first opened my account, I did not qualify for the advertised 6 month 0% interest rate promo.  

Discover countered with a 1K limit, 3 month teaser 0% intro rate and a rate of upwards of 20% therafter.  The first few months I ran thousands of dollars in charges through the card and paid it off before the billing cycle closed.  I was able to utilize this as leverage to score a 5K credit limit increase at 90 days.  

Unfortunately, they have not been so forgiving with the intrest rate.  I have requested a lower interest rate on several occassions.  The last representative suggested that I try again when my account is 1 year old.  In the interim, every other month I use the card for a big purchase and then pay the balance in full.  I refuse to pay a +20% intrerest rate.  

---

I just received my IT card the other day and called immediately when I saw 22.99% APR after the intor 0%.  CSR also told me to try back in a year or so or pehaps right as the 0% expires.  I may try every six months.

Similar to others here, I'm not too concerned about the rate as this card will always be PIF.  I just don't like the idea of one card in my wallet having a rate nearly 10 points higher than every other card.

[striehl8212]

---

@WillTeasle wrote:

---

@JAY305 wrote:

When I first opened my account, I did not qualify for the advertised 6 month 0% interest rate promo.  

Discover countered with a 1K limit, 3 month teaser 0% intro rate and a rate of upwards of 20% therafter.  The first few months I ran thousands of dollars in charges through the card and paid it off before the billing cycle closed.  I was able to utilize this as leverage to score a 5K credit limit increase at 90 days.  

Unfortunately, they have not been so forgiving with the intrest rate.  I have requested a lower interest rate on several occassions.  The last representative suggested that I try again when my account is 1 year old.  In the interim, every other month I use the card for a big purchase and then pay the balance in full.  I refuse to pay a +20% intrerest rate.  

---

I just received my IT card the other day and called immediately when I saw 22.99% APR after the intor 0%.  CSR also told me to try back in a year or so or pehaps right as the 0% expires.  I may try every six months.

Similar to others here, I'm not too concerned about the rate as this card will always be PIF.  I just don't like the idea of one card in my wallet having a rate nearly 10 points higher than every other card.

---

I don't think any card company can do APR reductions while any promotion is current. However, the day my promo ended Discover gave me a CLI and APR reduction in the same phone call.