Requesting APR increases? Crazy, I know.

[Anonymous]

Well now that I've got your attention, let's discuss a crazy idea.  No, I've never requested an APR increase, nor do I know anyone that has.  It just seemed like an off the wall idea that popped into my head when reading about people requesting credit line decreases.  Those that request CLDs are arguably putting that account into a "lesser" position, but sometimes things like reducing exposure can among other reasons can help the big picture... so believe me, I get it.  Requesting an APR increase seems extremely counterproductive, but if you are a person that hasn't paid a penny of interest for years, following a strict PIF philosophy, does it matter if your APR is 12%, 18%, 25%?  The question would be then, is there any benefit at all to having a higher APR?  Grasping at straws here, but perhaps a creditor out there would be more willing to hand a higher limit to someone with a greater APR, in hope of enticing a greater spend/interest.  I know, crazy talk.  I just thought it would be a fun topic to consider for S&Gs.  

[Anonymous]

That is kind of interesting.

The thing is I always thought higher APRs meant more of an increased risk. In other words, maybe CLI are more generous for the ones who have a lower APR. Kinda like how the CRA have a clean/dirty bucket deal going on.

For instance for myself I was able to get in with Chase with the CSP (more than likely barely) but I got the highest interest rate. I’d think I wouldn’t be up for auto CLI like some can get. So I’ll more than likely have to wait and get a HP in the future. But maybe the APR doesn’t play a part in that. I don’t know if I’ve made sense, I’m just rambling. 😂

[austinguy907]

I request them every 6 months from Disco / Amex.  Did Disco today and they didn't have any "offers" but did find a $20 for $1K spend in 30 days.  Guess I need to check back in another 6 months to see if something changes to collect that extra 2% off the APR they owe me.  

I check these 2 mainly because it's a chat online and I don't have to really deal with them over the phone or go back and forth by SM.  It would be great if every bank had a chat feature instead of trying to give that personal "touch" by making you talk to them over the phone or in person.  Sometimes you just don't want to!

Chatted up AMEX after starting this reply and they don't do crap if you're already under a promo.  They did mention though marketing is looking at accounts for special offers and there might be some e-mails going out in the next few days.  *rolls eyes*  Yeah, I know you want me to get a PRG and Platinum for the AF but, that's not going to happen!!!

[Anonymous]

austinguy907, I think you mean above that you request APR decreases every 6 months with Discover/Amex, not increases...?

[austinguy907]

You are correct on the Decrease..... Who the hell is going to want to up their APR?  I'd like to up my APY though from 2.5% to some of the rates from like 10 years ago when I could find places paying upwards of 6-7% on balances.  Stupid banking system!!!!

[Schwartzinator]

This is an interesting question. Under the right circumstances, I might be willing to trade a higher APR for a larger credit limit as 0% of 10% or 50% is still $0 when you always PIF.

[manyquestions]

Usually a higher APR means that you are in a higher risk tier.  I'd be afraid of generating adverse action on the account. Say if they have max credit limits for each tier and you ask them to move you to the higher risk tier to get the higher APR, you might get a credit line decrease if your current limit is higher than the credit limit allowed for your income in the high risk APR tier. But I really have no idea. 

[Anonymous]

No offense but this really is an absurd notion/hypotheitcal.  There is never any valid reason to request a higher APR.  No creditor is going to give you higher limits, more benefits or whatever in exchange for a higher APR.  I even doubt that any creditor would give you a higher APR if you even requested one.  This isn't at all similar to requesting a CLD as there are valid reasons for doing that in the right circumstance.  As you indicate in your post, you're doing this for fun so moving this to Smorgasbord.

[Blodreina]

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@Anonymous wrote:

No offense but this really is an absurd notion/hypotheitcal.  There is never any valid reason to request a higher APR.  No crediotr going to give you higher limits, more benefits or whatever in exchange for a higher APR.  I even doubt that any creditor would give you a higher APR if you even requested one.  This isn't at all similar to requesting a CLD as there are valid reasons for doing that in the right circumstance.  As you indicate in your post, you're doing this for fun so moving this to Smorgasbord.

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I'm inclined to agree with Irish on this one.