Re: Discover APR Reduction UPDATE
10-07-2012 09:59 AM
So I've been working on my credit for the last 3 years and have made great progress! Thank you "My Fico" I applied for Discover last year at the end of July and was approved with a $1500 cl and APR of 20.99%. At the time I applied there was a 12 month 0% promotion as well. This is also the last cc I've applied for and I have been in the garden since. So anyway I've never received an auto cli and I waited till August to call and ask for an APR reduction as I have high utilization and figured they wouldn't do a limit increase. The agent I spoke with said she could NOT reduce my APR w/o pulling my credit report but that she could extend my 0% promotion for another year. I took it! Well got my statement today and the APR was changed to 15.99%, I panicked and thought they didn't honor the 0% so I called. Well the agent said yes I am getting the 0% promotion till next Oct (2013) and that the APR was changed October 1st from 20.99 to 15.99%. Woo Hoo! It may still seem high but its certainly better than 20.99%. I just wanted to give back to my fico by sharing my story! Good luck my fico comrades and there is hope, it just takes time and patience but the results get better eventually.
Went to do some online shopping thru shop Discover for the extra 2% and my account said this! I immediately logged out and logged back in and it said the same thing! I then restarted my computer to be sure there wasn't a glitch of some kind and nope still had the same info! Auto cli! Unbelievable!
Current Balance $605.34 Last Statement Balance $605.34 Minimum Payment Due 11/01 $ 40.00 Credit Line Available $ 6,894.00 Credit Line $ 7,500
This is the info from my statement yesterday:
Opening Date: Sep 5, 2012 - Closing Date: Oct 4, 2012
Credit Line $ 1,500.00
Credit Line Available $ 894.00
Cash Advance Credit Line $ 200.00
Cash Advance Credit Line Available $ 200.00
Do you think Discover realizes they did this for me??? I'm sure not calling to confirm, why ask the devil to dance? BTW if they did this based on Transunion then that's my best report with no baddies, no inquiries, high utilization on 2 NFCU cards (50%) and a Fico of 725 according to WM.
Woo, hoo!!!!! Congrats!!!
Starting Scores for 2013: EQ 723, TU 735, EX Credit Sesame 751
Current Scores: EQ 733, TU 724 (05/01/2013), EX Credit Sesame 725 (05/08/2013)
Goal Score: 740+ FICO scores
Take the FICO Fitness Challenge Bronze Spade Garden Club Member - Last App: 03/04/2013 - No apps until Fall 2013
Cards: Cap1 Venture 6.4k, Cap1 NHCR MC 750, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 4k, Citi Diamond Preferred MC 7.55k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 4.2k, Kay Jeweler's 5.1k