topic Re: APR Reductions...How Much Progress Have You Made in Credit Cards

APR Reductions...How Much Progress Have You Made

fused — Sun, 27 Jul 2008 00:59:47 GMT

I have been working very hard on this and I have been quite successful. I now have APR reductions with the following cards:

Amex Blue (soon to be Clear) to 6.74%

Chase Plat Visa lowered to 10.99%

FIA 529 Fidelity Plat Visa to 9.99%

CITI Divivdends Plat MC to 9.99% (reopened account and also received an auto CLI)

A no go with the following:

BoA unsecured LOC at 13.99%

Discover Motiva 10.99%

First Hawaiian Bank Gold Visa 13.99%

What about all of you guys and gals?

Re: APR Reductions...How Much Progress Have You Made

Anonymous — Sun, 27 Jul 2008 01:28:47 GMT

Citi Dividend Amex dropped me from 15.24 to 12.99 without me asking, but I had substantial score improvement also.

Chase Freedom lowered me from 15.99 to 11.99.

Amex Blue from 17.99 to 8.99.

Message Edited by FretlessMayhem on 07-26-2008 09:28 PM

Re: APR Reductions...How Much Progress Have You Made

shaybe — Sun, 27 Jul 2008 01:33:39 GMT

I recently called Bank of America and requested an APR reduction on my Student Platinum Plus Visa. I went from 15.99% to 12.99% and they also offered a $500 CLI that happily I accepted.

I also requested an APR reduction on my Target Visa but they wouldn't budge.

Re: APR Reductions...How Much Progress Have You Made

Anonymous — Sun, 27 Jul 2008 01:34:54 GMT

actually cap1 reduced me from 17.9 to 16.9 and then the next month down to 14.9. i called and got this done. but now i cant get a cli to save my life

Re: APR Reductions...How Much Progress Have You Made

fused — Sun, 27 Jul 2008 01:49:05 GMT

It's nice to see others making headway too

Re: APR Reductions...How Much Progress Have You Made

Anonymous — Sun, 27 Jul 2008 01:56:16 GMT

Discover More 15.99 to 12.99

Chase 20.9 to 14.99

Boa 19.99 to 8.99

Re: APR Reductions...How Much Progress Have You Made

fused — Sun, 27 Jul 2008 03:22:38 GMT

BoA and 8.99% is great. Variable??

Re: APR Reductions...How Much Progress Have You Made

haulingthescoreup — Sun, 27 Jul 2008 03:26:05 GMT

fused, I didn't think that you carried balances. Is this just something you're working on for just in case reasons?

Re: APR Reductions...How Much Progress Have You Made

fused — Sun, 27 Jul 2008 03:38:24 GMT

haulingthescoreup wrote:
fused, I didn't think that you carried balances. Is this just something you're working on for just in case reasons?

You're 100% right on why I have been doing this.

Re: APR Reductions...How Much Progress Have You Made

Anonymous — Sun, 27 Jul 2008 03:41:43 GMT

This is probably not an option for sub prime cards. I think I asked either Credit one bank or Aspen about a rate reduction. They told me the rates where locked and that's how it is. If I want lower rates I need to re apply. I would bet hsbc and merrick would work with me though. Sorry, I cant really comment on any progress. I'm just happy to finally have some positive TL reporting.

Re: APR Reductions...How Much Progress Have You Made

haulingthescoreup — Sun, 27 Jul 2008 03:44:09 GMT

@fused wrote:
@haulingthescoreup wrote:
fused, I didn't think that you carried balances. Is this just something you're working on for just in case reasons?
You're 100% right on why I have been doing this.

Okey-dokey.

As my contribution to the post, I haven't had any APR reductions, because I haven't asked for them. In fact, if you put a gun to my head, I don't think I could tell you what my APR's are, other than the 0% BofA BT APR.

Signed,
The happy PIF'er

PS: But congrats to those who have pulled this off. I think it's probably harder to do than CLI's!

Re: APR Reductions...How Much Progress Have You Made

Anonymous — Sun, 27 Jul 2008 04:48:08 GMT

@fused wrote:
BoA and 8.99% is great. Variable??

I think a lot of the BOA cards come with a fixed 9.99 percent, which I thought was pretty good.

My BOA WP MC came with that rate, though 14.99 is also referred to on the card page.

Re: APR Reductions...How Much Progress Have You Made

fused — Sun, 27 Jul 2008 05:12:34 GMT

going2tdc wrote:
This is probably not an option for sub prime cards. I think I asked either Credit one bank or Aspen about a rate reduction. They told me the rates where locked and that's how it is. If I want lower rates I need to re apply. I would bet hsbc and merrick would work with me though. Sorry, I cant really comment on any progress. I'm just happy to finally have some positive TL reporting.

Give it some time. Your scores are improving and in time you will be able to get bigger CLs and lower APRs. I still remember when I couldn't get any CC, so yes, I have come a long way like many others have and will.

Re: APR Reductions...How Much Progress Have You Made

Anonymous — Sun, 27 Jul 2008 14:35:09 GMT

fused wrote:
BoA and 8.99% is great. Variable??

Yes it is Variable.

I didn't ask for them to reduce it. I had called with a question and while CSR was going over my account he asked if he could do anything for me and I told him I was fine after he answered my question. He tried to talk me into a BT but I said I had nothing to BT. He tried to deposit money in my checking in case I wanted to 'go shopping'. No thanks! So then he lowered my APR. I almost always PIF and it had a zero balance. I guess this is great if I need to revolve one.

If nothing else, the customer service has always been great to me. It seems like they will go out of their way to please, even if they decline your initial request for something. They will do what's in their power to find something to help improve your account.

Re: APR Reductions...How Much Progress Have You Made

Uniqua — Sun, 27 Jul 2008 14:42:11 GMT

Same here. I don't know my APRs either, but no need in putting a gun to my head. Just put some cash in my hand and I'll blurt them out like I was reciting a poem!

Question: is it typically a hard pull for APR reductions? Never thought about that.

And Fused, since you made significant progress getting rate reductions, can you call my CU and request a CLI without a hard for me? I'm sure they'll listen to you.

Re: APR Reductions...How Much Progress Have You Made

Anonymous — Sun, 27 Jul 2008 14:52:30 GMT

No hard hit's for mine being reduced. As always YMMV, especially with Chase.