topic Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS in Credit Cards

NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 03:12:24 GMT

What's up community,

so just like many of you I have been on the road to credit recovery and with that long dusty road comes the low rent life style of no frill HIIIIIGH APR CARD$... My question is when do we pick-up the phone and call into our creditor's to negotiate a lower APR ,aas well as what do we need to say in order to get the absolute most out of the call possible?

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 03:18:54 GMT

@Anonymous wrote:
What's up community,

so just like many of you I have been on the road to credit recovery and with that long dusty road comes the low rent life style of no frill HIIIIIGH APR CARD$... My question is when do we pick-up the phone and call into our creditor's to negotiate a lower APR ,aas well as what do we need to say in order to get the absolute most out of the call possible?

After building some positive history. 6 months is a good timeframe.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

kdm31091 — Tue, 20 Jan 2015 03:30:24 GMT

After 6 months, or whenever 0% promos expire. Discover and Amex are typically very good with lowering APRs. The rest YMMV

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

score_building — Tue, 20 Jan 2015 03:42:41 GMT

It's a start, but unless there's been some notable overall profile improvements, 6 months isn't much time for a lender to re-evaluate the APR. Yes, also don't bother with an APRD request if account is currently still in a promo period, wait until promo expiry.

Something like 'Hi, good morning/evening, can you please check to see if my account is eligible for a lower APR' and you're done.

It'll either be a yes or no-not really a negotiation. Rinse and repeat with profile imporovements in several months if it's a no go.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 04:18:59 GMT

@score_building wrote:
It's a start, but unless there's been some notable overall profile improvements, 6 months isn't much time for a lender to re-evaluate the APR. Yes, also don't bother with an APRD request if account is currently still in a promo period, wait until promo expiry.

Something like 'Hi, good morning/evening, can you please check to see if my account is eligible for a lower APR' and you're done.

It'll either be a yes or no-not really a negotiation. Rinse and repeat with profile imporovements in several months if it's a no go.

"Yes, your current APR is 0%"

"Yes, I'd like that lowered."

"The only way we can lower it is to pay you for carrying a balance."

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 05:39:00 GMT

@kdm31091 wrote:
After 6 months, or whenever 0% promos expire. Discover and Amex are typically very good with lowering APRs. The rest YMMV

What is YMMV???

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 05:40:16 GMT

@Anonymous wrote:
@kdm31091 wrote:
After 6 months, or whenever 0% promos expire. Discover and Amex are typically very good with lowering APRs. The rest YMMV
What is YMMV???

Your Mileage May Vary.

Think of it as...You win some, You lose some.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 05:47:03 GMT

@score_building wrote:
It's a start, but unless there's been some notable overall profile improvements, 6 months isn't much time for a lender to re-evaluate the APR. Yes, also don't bother with an APRD request if account is currently still in a promo period, wait until promo expiry.

Something like 'Hi, good morning/evening, can you please check to see if my account is eligible for a lower APR' and you're done.

It'll either be a yes or no-not really a negotiation. Rinse and repeat with profile imporovements in several months if it's a no go.

Promo period before negotiation 110% understood... APRD?

However, AND I STRONG RECCOMEND THIS, THERE IS ALWWWWWWWAYS NEGOTIATION... WHEN LIFE SHUTS THE DOOR YOU COME IN THROUGHTHE WINDOW. Rinse and Repeat I 110% understand.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 05:47:57 GMT

@Anonymous wrote:
@score_building wrote:
It's a start, but unless there's been some notable overall profile improvements, 6 months isn't much time for a lender to re-evaluate the APR. Yes, also don't bother with an APRD request if account is currently still in a promo period, wait until promo expiry.

Something like 'Hi, good morning/evening, can you please check to see if my account is eligible for a lower APR' and you're done.

It'll either be a yes or no-not really a negotiation. Rinse and repeat with profile imporovements in several months if it's a no go.
"Yes, your current APR is 0%"
"Yes, I'd like that lowered."
"The only way we can lower it is to pay you for carrying a balance."

Haha I see were you're going with that. This is all future reference.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 06:07:46 GMT

@Anonymous wrote:
"Yes, your current APR is 0%"
"Yes, I'd like that lowered."
"The only way we can lower it is to pay you for carrying a balance."

"Oh, I don't have a probelm with that. Yes please."

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 06:15:52 GMT

@Anonymous wrote:
@Anonymous wrote:
@kdm31091 wrote:
After 6 months, or whenever 0% promos expire. Discover and Amex are typically very good with lowering APRs. The rest YMMV
What is YMMV???
Your Mileage May Vary.

Think of it as...You win some, You lose some.

Far from ignorant but uh... I'm not following.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Chris679 — Tue, 20 Jan 2015 06:24:01 GMT

YMMV means that we will all have different experiences due to things out of our control as well as things we can control. I've found that the ability to negotiate can really influence the higher end account sups and managers while the lower end CSRs overall knowledge level can vary quite a bit.

As far as lowering APR just starting calling them and you will quickly get a feel for who will do what for you.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

score_building — Tue, 20 Jan 2015 06:59:36 GMT

@Anonymous wrote:
@score_building wrote:
It's a start, but unless there's been some notable overall profile improvements, 6 months isn't much time for a lender to re-evaluate the APR. Yes, also don't bother with an APRD request if account is currently still in a promo period, wait until promo expiry.

Something like 'Hi, good morning/evening, can you please check to see if my account is eligible for a lower APR' and you're done.

It'll either be a yes or no-not really a negotiation. Rinse and repeat with profile imporovements in several months if it's a no go.
Promo period before negotiation 110% understood... APRD?
= Annual Percentage Rate Decrease (Request)

However, AND I STRONG RECCOMEND THIS, THERE IS ALWWWWWWWAYS NEGOTIATION... WHEN LIFE SHUTS THE DOOR YOU COME IN THROUGHTHE WINDOW. Rinse and Repeat I 110% understand.
Sure many things are, though good luck negotiating rent after signing a lease with a management company for e.g. An APRD request with a ccc is not a negotiation and should not be dealt with as such when speaking with reps, unless you want to appear to be barking up the wrong tree. Either a card holder qualifies or not at a certain point in time, and that's it. An APRD request can serve as a precautionary measure to ensure one has the best rates currently eligible for. However, balances accruing interest at a regular purchase rate should be avoided, at all costs. '..know when to hold 'em, know when to fold 'em, know when to walk away, and know when to run!'

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 07:01:27 GMT

Someone's been playing poker with Kenny Rogers, I see.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

score_building — Tue, 20 Jan 2015 07:07:50 GMT

@Anonymous wrote:
Someone's been playing poker with Kenny Rogers, I see.

HAHAHAHA True story, well while listening to his music

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

takeshi74 — Tue, 20 Jan 2015 14:44:16 GMT

@Anonymous wrote:
My question is when do we pick-up the phone and call into our creditor's to negotiate a lower APR ,aas well as what do we need to say in order to get the absolute most out of the call possible?

As with everything else credit related the decision is based on your credit. When depends on when your credit qualifies for a lower APR according to the creditor's critieria. There's no fixed universal timeframe. All you need to say is that you want a lower APR. Either you qualify or you don't. There isn't a magic phrase that will automatically grant you a reduction in every possible situation.

@Anonymous wrote:
What is YMMV???

Don't overlook the stickies. This thread is linked in the Helpful Threads sticky in this subforum.

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/m-p/88458

@Anonymous wrote:
Your Mileage May Vary.

Think of it as...You win some, You lose some.

It's more a matter of "your results may not be the same as the next person's". In this context everyone's credit isn't identical. Creditors don't all have identical policies or criteria.

Re: NEGOTIATING A LOWER APR FOR MY CC ACCOUNTS

Anonymous — Tue, 20 Jan 2015 22:45:19 GMT

@score_building wrote:
@Anonymous wrote:
@score_building wrote:
It's a start, but unless there's been some notable overall profile improvements, 6 months isn't much time for a lender to re-evaluate the APR. Yes, also don't bother with an APRD request if account is currently still in a promo period, wait until promo expiry.

Something like 'Hi, good morning/evening, can you please check to see if my account is eligible for a lower APR' and you're done.

It'll either be a yes or no-not really a negotiation. Rinse and repeat with profile imporovements in several months if it's a no go.
Promo period before negotiation 110% understood... APRD?
= Annual Percentage Rate Decrease (Request)

However, AND I STRONG RECCOMEND THIS, THERE IS ALWWWWWWWAYS NEGOTIATION... WHEN LIFE SHUTS THE DOOR YOU COME IN THROUGHTHE WINDOW. Rinse and Repeat I 110% understand.
Sure many things are, though good luck negotiating rent after signing a lease with a management company for e.g. An APRD request with a ccc is not a negotiation and should not be dealt with as such when speaking with reps, unless you want to appear to be barking up the wrong tree. Either a card holder qualifies or not at a certain point in time, and that's it. An APRD request can serve as a precautionary measure to ensure one has the best rates currently eligible for. However, balances accruing interest at a regular purchase rate should be avoided, at all costs. '..know when to hold 'em, know when to fold 'em, know when to walk away, and know when to run!'

I see what you did there score... Haha. Nice!