Does Capital One ever reduce APRs?

[Open123]

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@FinStar wrote:

The whole concept of not using a card you've applied for because the APR is high (given an individual's profile at the time of applying and regardless of OCD rationalization) is plain silly IMO.  Just like a flying fig!  If the overall benefit structure works and you PIF, the APR is really a non-event.

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+1

Right, if I were to PIF, I couldn't care less even if the ARR is, say, 58%.  Conversely, if I couldn't PIF, for whatever reason, I'd be concerned with anything above a 0% promo APR.

*Edited*  PS - Only exception where I'd care about the APR is if I were planning on carrying a balance on a large purchase.  In this case, I wouldn't be looking to make this purcahse on a rewards card, but a low interest bearing one.

[Anonymous]

My 15 year old Platinum card was 15.9% APR, when my QS 0% APR promo ends in January, my APR would be 22.9%. I called Capital One and they would NOT budge on that 22.9%. However after contacting EO, I was able to get the Platinum changed to QS, I then merged them together and I now have $22k in my QS at 15.9% and I get to keep my oldest card active. They just do not like to lower APRs so you have to do a Plan B sometimes. I always PIF so if I had to carry a balance in the future it would be from another card like my 8% Ring, or go for another CC with a promo offer like the one every week I get in the mail from BofA for 0% APR until April 2017 and then 12.9% APR after that. 

[Anonymous]

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@Open123 wrote:

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@FinStar wrote:

The whole concept of not using a card you've applied for because the APR is high (given an individual's profile at the time of applying and regardless of OCD rationalization) is plain silly IMO.  Just like a flying fig!  If the overall benefit structure works and you PIF, the APR is really a non-event.

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+1

Right, if I were to PIF, I couldn't care less even if the ARR is, say, 58%.  Conversely, if I couldn't PIF, for whatever reason, I'd be concerned with anything above a 0% promo APR.

*Edited*  PS - Only exception where I'd care about the APR is if I were planning on carrying a balance on a large purchase.  In this case, I wouldn't be looking to make this purcahse on a rewards card, but a low interest bearing one.

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Agreed. I couldn't care less about APR actually. Most of my best rewards cards have the highest APR -- Sallie Mae 17.99 (and it used to be 22.99%!), U.S. Bank Cash+ (21.99%), both BBRs (21.99%) and Double Cash (22.99%). My worst card by far (and by far, least used), my WF Platinum Visa, has the lowest APR. 

[thelethargicage]

@kdm31091:

I agree--the APR might be immaterial if you PIF, but it still bugs me in the back of my mind and really turns me off to using this card.

[bdhu2001]

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@kdm31091 wrote:
They almost never permanently lower APRs. The EO has for some people, but typically its only a 1 or 2 percent drop i.e. probably not worth the hassle.

This is why myQS issockdrawered. Yes the APR reallydoesnt matter. Its purely psychological. But for some reason it still makes me not wanna use it

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If you leave the states, pull it out of the drawer.  It's the only card I have that doesn't charge a foreign transaction fee.