Noticed the variable APRs on my cards have been increasing over the past few months. Got bored today and decided to try to lower the APR on my bank cards. Didn't expect any luck since my credit isn't stellar but I was actually able to lower a few--including two which had insanely high APRs.
Discover went from 23.99% to 19.24%
Barclaycard went from 25.99% to 21.99%
Citi DC went from 16.99% to 15.24%
Chase wouldn't even take a look ("We review twice a year and WE will reach out to YOU"), CapOne and BofA didn't have any offers at this time.
Citi DC is my favorite card for its generous limit and the super-easy (and often offered) balance transfers--now I have another reason to be an even bigger fan. 
Never thought to do this before but I'm happy I went through the exercise. How often do banks usually entertain lowering APRs??
Yeah Citi is known around here for being pushovers on APR decreases. You can keep asking them and they'll keep lowering, sometimes only days later.
Chase, on the other hand, WILL NOT lower your APR upon request. My understanding is Amex won't do it either.
The only two times I have asked Amex they gave me APR reductions. Blue is a 3-tier APR (a, b or c) rather than a range; I've had the lowest tier since getting the card 15 years ago. I asked to see if they would lower it, and they gave me an extra % off, although it is only for a year then it's back to 15%. When I apped for my SPG earlier this year, the computer gave me a 17% APR. I hopped on chat seconds after applying and asked for it to be lowered; they apologized and dropped it 2% to the lowest of the range. I'm 2 for 2 so not sure about the unicorn comment. Maybe I'm lucky or they just really like me?
@atarvuzdar wrote:Noticed the variable APRs on my cards have been increasing over the past few months. Got bored today and decided to try to lower the APR on my bank cards. Didn't expect any luck since my credit isn't stellar but I was actually able to lower a few--including two which had insanely high APRs.
Discover went from 23.99% to 19.24%
Barclaycard went from 25.99% to 21.99%
Citi DC went from 16.99% to 15.24%
Chase wouldn't even take a look ("We review twice a year and WE will reach out to YOU"), CapOne and BofA didn't have any offers at this time.
Citi DC is my favorite card for its generous limit and the super-easy (and often offered) balance transfers--now I have another reason to be an even bigger fan.
Never thought to do this before but I'm happy I went through the exercise. How often do banks usually entertain lowering APRs??
How did you go about asking Barclays? Did you use the secure messaging when you sign into your account?
I don't need to have it lowered. I pay in full every month but I want to try and see what happens.
@Anonymous wrote:
@atarvuzdar wrote:Noticed the variable APRs on my cards have been increasing over the past few months. Got bored today and decided to try to lower the APR on my bank cards. Didn't expect any luck since my credit isn't stellar but I was actually able to lower a few--including two which had insanely high APRs.
Discover went from 23.99% to 19.24%
Barclaycard went from 25.99% to 21.99%
Citi DC went from 16.99% to 15.24%
Chase wouldn't even take a look ("We review twice a year and WE will reach out to YOU"), CapOne and BofA didn't have any offers at this time.
Citi DC is my favorite card for its generous limit and the super-easy (and often offered) balance transfers--now I have another reason to be an even bigger fan.
Never thought to do this before but I'm happy I went through the exercise. How often do banks usually entertain lowering APRs??
How did you go about asking Barclays? Did you use the secure messaging when you sign into your account?
I don't need to have it lowered. I pay in full every month but I want to try and see what happens.
Attempted the secure message but they responded very soon after that I had to call in. The call took all of three minutes, no fuss no muss.
@atarvuzdar wrote:Noticed the variable APRs on my cards have been increasing over the past few months. Got bored today and decided to try to lower the APR on my bank cards. Didn't expect any luck since my credit isn't stellar but I was actually able to lower a few--including two which had insanely high APRs.
Discover went from 23.99% to 19.24%
Barclaycard went from 25.99% to 21.99%
Citi DC went from 16.99% to 15.24%
Chase wouldn't even take a look ("We review twice a year and WE will reach out to YOU"), CapOne and BofA didn't have any offers at this time.
Citi DC is my favorite card for its generous limit and the super-easy (and often offered) balance transfers--now I have another reason to be an even bigger fan.
Never thought to do this before but I'm happy I went through the exercise. How often do banks usually entertain lowering APRs??
Fascinating. It took me 2 years and a hard pull to get my first CLI from Citi DC, and I've NEVER had a balance transfer offer from them (other than the initial 30 day one)..
