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Tried lowering APR on Chase cc... denied

Valued Member

Tried lowering APR on Chase cc... denied

Hello,

 

Today I called the number on the back of my card to try to lower my APR from 22%. I was denied right from the get go. I forgot what he exactly said but something along the lines they were trying to update with the federal regulations and for me to be patient for a couple of months. I was thinking about using the line that I would like to cancel my card and find a company with better rates but I couldn't because he said it before I could. He said we understand you can cancel and go with another company but we ask that you remain patient for a couple of months. What can I do from here?

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2 REPLIES
Moderator Emerita

Re: Tried lowering APR on Chase cc... denied

If at first you don't succeed, hang up and call back again. But, just know that Chase has seemingly been pretty ornery lately. You're perhaps risking outright closure.

 

A better option might be to shop around amongst credit unions for a better rate and do a balance transfer.

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Message 2 of 3
Senior Contributor

Re: Tried lowering APR on Chase cc... denied


markymark313 wrote:

Hello,

 

Today I called the number on the back of my card to try to lower my APR from 22%. I was denied right from the get go. I forgot what he exactly said but something along the lines they were trying to update with the federal regulations and for me to be patient for a couple of months. I was thinking about using the line that I would like to cancel my card and find a company with better rates but I couldn't because he said it before I could. He said we understand you can cancel and go with another company but we ask that you remain patient for a couple of months. What can I do from here?


 

1) Is this a formerly WaMu account?

 

2) Do you have a balance on the account?

 

If you have a balance on the account the time to negotiate ARPD is when you are PIF. Chase has been particularly intractable when it comes to modifying terms of formerly WaMu accounts. I ask periodically - I wish I had gotten an answer like the above. Some encouragement is a lot better than, "NO!". In your case you are going to have to app for another card (elsewhere I would think) if you want better terms. CU's are great!

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