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Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering APR

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galahad15
Valued Contributor

Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering APR

I am potentially interested in eventually applying for the BoA BBR, but not at the advertised interest rates...was just wondering, has anyone had any luck if after apping, in lowering their APR?  From searching here on the forum, I know that BoA no longer allows any sort of PC of an existing card of theirs to BBR, but the rates they're offering are just not exactly encouraging, especially if someone is intended to carry a balance on them?  (I know I know lol, I *could* PIF in theory and thus pay 0% interest, but that kinda defeats the purpose of having a competitive APR...


Message 1 of 9
8 REPLIES 8
kdm31091
Super Contributor

Re: Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering A

I understand the feeling but honestly its an easy card to PIF because there is no incentive to spend more than a bare minimum on it to get your quarterly reward. So the APR shouldnt be too important.

To answer your question yes, they do lower APRs after promo periods if you qualify. The drops tend to be fairly modest.
Message 2 of 9
NRB525
Super Contributor

Re: Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering A


@galahad15 wrote:

I am potentially interested in eventually applying for the BoA BBR, but not at the advertised interest rates...was just wondering, has anyone had any luck if after apping, in lowering their APR?  From searching here on the forum, I know that BoA no longer allows any sort of PC of an existing card of theirs to BBR, but the rates they're offering are just not exactly encouraging, especially if someone is intended to carry a balance on them?  (I know I know lol, I *could* PIF in theory and thus pay 0% interest, but that kinda defeats the purpose of having a competitive APR...


OP, you didn't answer my question a few days ago, about where your balances are now, what APR you are paying on them, and whether you are getting any BT offers from BofA, Citi, or Discover. Your better low APR solution is tactical use of BT offers, likely from the cards you already have.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 3 of 9
Anonymous
Not applicable

Re: Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering A

Ahhh someone just recently got 10.9% on a BBR here.  Good, not great.  If you are a potential balance carrier, a low APR no BT fee card for use in a debt shuffle is very useful. Something like the Ring or Penfed Promise.

Message 4 of 9
happypill
Valued Contributor

Re: Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering A

If you're planning to carry a balance you should probably be looking at a low APR card rather than any sort of rewards card.

Message 5 of 9
galahad15
Valued Contributor

Re: Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering A


@Anonymous wrote:

Ahhh someone just recently got 10.9% on a BBR here.  Good, not great.  If you are a potential balance carrier, a low APR no BT fee card for use in a debt shuffle is very useful. Something like the Ring or Penfed Promise.


Have and like the Ring...  Smiley Happy


Message 6 of 9
galahad15
Valued Contributor

Re: Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering A


@NRB525 wrote:

OP, you didn't answer my question a few days ago, about where your balances are now, what APR you are paying on them, and whether you are getting any BT offers from BofA, Citi, or Discover. Your better low APR solution is tactical use of BT offers, likely from the cards you already have.


? I thought I did answer the earlier question, or at least most of the parts of it?  For example, as cited previously, I listed my total ourstanding balances among all open cards (~$18.5k), listed that my APRs are in my forum posting signature, etc.  I'm not sure I'm 100% comfortable with listing out every individual card balance due to Internet privacy reasons.  I am getting BT offers from BoA, Citi, Discover, and FNBO -- in fact, I just made use of a 0% BT promo offer until July 2016 on by BoA Cash Rewards MC (transferred ~$2.4k to it at the promo 0% rate).  I also currently have a 3.99% BT offer applied to part of my balance on my BoA TR Visa Siggy card, and 0% offers applied for portions of my Discover and my FNBO Maximum Rewards VISA card balances.  So I am receiving and making use of the BT offers as applicable, but I am also relatively hesistant to apply for new cards solely or only b/c of the 0% promo offers, just because while the offers themselves will be useful of course, the eventual go-to rates are not very competitive, and there are only so many new 0% promo cards you can apply for before at any given time as well.


Message 7 of 9
kdm31091
Super Contributor

Re: Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering A

Did I read that right? 18.5k in balances?

I'd be looking at paying down the debt vs applying for new cards at this point. Even if approved you will not get the favorable terms you are after with that high amount of debt.

Message 8 of 9
galahad15
Valued Contributor

Re: Potentially interested in BBR, but not at advertised rates, any luck if after apping, lowering A


@kdm31091 wrote:

Did I read that right? 18.5k in balances?

I'd be looking at paying down the debt vs applying for new cards at this point. Even if approved you will not get the favorable terms you are after with that high amount of debt.


Thank you for the advice. Yes the balance amount is correct, and I am indeed working hard on paying it down, slowly but surely.  There are only a few select  cards that I am actively charging new balances to (i.e., the Cap1 card and the FNBO Amex mostly); everything else is either PIF and/or being paid off as much as possible bit by bit, without adding any new debt to what has already been incurred.


Message 9 of 9
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