topic Re: Lowering APRs in Credit Cards

Lowering APRs

creditconcept — Sun, 25 Jan 2015 15:11:08 GMT

What banks have you all successfully requested and had your APR lowered on a CC with? Also, by how much? 5% 3%...?

THANKS!!

Re: Lowering APRs

kdm31091 — Sun, 25 Jan 2015 15:14:14 GMT

Discover and Amex both lower my APR with no problem, roughly every 6 months I can ask and they'll do it. Usually only 1-2% at a time, but they're willing to move on it at least.

Capital One I don't know yet, but I've heard it can be done through the EO. I"m gonna try in September when my 0% runs out.

Chase supposedly never does it, but we'll see. I don't have much confidence though, and the more I learn the less I like with them. They don't grow with people.

My BJ's card is by Comenity and they claim they'll lower my APR after 6 months -- again, we'll see. 6 months will be March.

I haven't had Sallie Mae very long at all, only a month and some change, so I don't know yet, but Barclay is another one that claims they will lower it

Re: Lowering APRs

PokemonMaster — Sun, 25 Jan 2015 19:50:01 GMT

Discover, Amex, and NFCU have all lowered my APR either on their own or at my request. My Citi card is still at the initial APR they gave me when I first got the card (19.99) and they refuse to lower it. As for Chase, it is already at the lowest they offer (13.99).

Re: Lowering APRs

Chris679 — Sun, 25 Jan 2015 19:53:34 GMT

Amex, discover, BoA, citi: yes
Chase: no
CapOne: no so far but haven't given up yet

Usually it's just a few % pts but BoA dropped me from 20 to 14.

Re: Lowering APRs

Anonymous — Sun, 25 Jan 2015 20:09:22 GMT

Just AMEX so far.

Re: Lowering APRs

Anonymous — Sun, 25 Jan 2015 20:42:56 GMT

In answer to your question, none of my lenders have lowered my APR per my request, but Wells Fargo did lower mine automatically when it graduated from a secured card (I think it went from 18.99% to 15.65%, plus or minus a few tenths of a decimal.)

Re: Lowering APRs

NRB525 — Sun, 25 Jan 2015 21:01:43 GMT

Discover lowered it from 19.99 to 18.24 after I got two letters at the same time, one said they could not, the other announcing 18.24%

AMEX said no, you are already on a 6.99% temporary offer rate, talk to us in a year.

Citi said, when you signed up for this card we told you the APR was 16.99. That's the lowest rate you'll get.

As to Chase, many of their cards are cobranded with other rewards, so even though my goal is to find lower APR, if PIF the cards I'm adding, the APR becomes next to meaningless.

Re: Lowering APRs

B335is — Sun, 25 Jan 2015 21:15:09 GMT

Just BoA for me. 3% reduction, but they told me I can request it every 6 months.

Re: Lowering APRs

chwebb1 — Mon, 26 Jan 2015 02:01:50 GMT

@creditconcept wrote:
What banks have you all successfully requested and had your APR lowered on a CC with? Also, by how much? 5% 3%...?
THANKS!!

BoA: 19.99% to 12.99% - Cash Rewards

BoA: 18.99 to 11.99% - Better Balance Rewards

AMEX: 17.99% to 14.99% - Blue Cash Everyday

Discover: 18.99% to 17.24% - Discover It

Citi: 17.99% to 15.99% - Double Cash (Was Dividend previously)

I'm already at the lowest APRs offered by Barclaycard (13.99% on Sallie, 8% on Ring).

Re: Lowering APRs

degs138 — Sun, 22 Mar 2015 22:16:11 GMT

Capital One just lowered my Venture from 22.99 to 18.99. It is only for 7 months and then it converts back to 22.99. I've never carried a balance but I wanted to see if it was possible.

Wells Fargo offered my some Super Checks bull**bleep** to pay bills. It's only a 600 credit limit on my card but I can write a check and have 0APR on it for 12 months. I guess I could have 600 of free money for a year if I really needed it

Re: Lowering APRs

L-TWT — Sun, 22 Mar 2015 22:36:46 GMT

Amex 12.99% -----> 8.24%

Citi 12.99% -----> 10.74%

Re: Lowering APRs

ScoreOrBeScored — Sun, 22 Mar 2015 23:49:51 GMT

@chwebb1 wrote:
@creditconcept wrote:
What banks have you all successfully requested and had your APR lowered on a CC with? Also, by how much? 5% 3%...?
THANKS!!
BoA: 19.99% to 12.99% - Cash Rewards
BoA: 18.99 to 11.99% - Better Balance Rewards

AMEX: 17.99% to 14.99% - Blue Cash Everyday

Discover: 18.99% to 17.24% - Discover It

Citi: 17.99% to 15.99% - Double Cash (Was Dividend previously)

I'm already at the lowest APRs offered by Barclaycard (13.99% on Sallie, 8% on Ring).

When asking BOA for a APR reduction, is it thru CSR or backdoor?

Re: Lowering APRs

ilovelisa — Sun, 22 Mar 2015 23:56:50 GMT

Bank of America- 20.9% to 14%

Discover- Asked but they offered 0% APR on new purchases for a year.

Re: Lowering APRs

lg8302ch — Sun, 22 Mar 2015 23:57:32 GMT

I have been successful with BofA, Cap1, Citi, Amex, Discover and Barclays. The only lender that will never budge is the one which gave me the highest APR ...Chase😜

For most lenders I got it lowered by 5%. I do not remember the original but current APRs are in my signature.

Re: Lowering APRs

lg8302ch — Mon, 23 Mar 2015 00:02:39 GMT

@ScoreOrBeScored wrote:
@chwebb1 wrote:
@creditconcept wrote:
What banks have you all successfully requested and had your APR lowered on a CC with? Also, by how much? 5% 3%...?
THANKS!!
BoA: 19.99% to 12.99% - Cash Rewards
BoA: 18.99 to 11.99% - Better Balance Rewards

AMEX: 17.99% to 14.99% - Blue Cash Everyday

Discover: 18.99% to 17.24% - Discover It

Citi: 17.99% to 15.99% - Double Cash (Was Dividend previously)

I'm already at the lowest APRs offered by Barclaycard (13.99% on Sallie, 8% on Ring).
When asking BOA for a APR reduction, is it thru CSR or backdoor?

Got mine from the retention department

Re: Lowering APRs

ilovelisa — Mon, 23 Mar 2015 00:05:13 GMT

ScoreOrBeScored wrote:

chwebb1 wrote:

creditconcept wrote:

What banks have you all successfully requested and had your APR lowered on a CC with? Also, by how much? 5% 3%...?

THANKS!!

BoA: 19.99% to 12.99% - Cash Rewards

BoA: 18.99 to 11.99% - Better Balance Rewards

AMEX: 17.99% to 14.99% - Blue Cash Everyday

Discover: 18.99% to 17.24% - Discover It

Citi: 17.99% to 15.99% - Double Cash (Was Dividend previously)

I'm already at the lowest APRs offered by Barclaycard (13.99% on Sallie, 8% on Ring).

When asking BOA for a APR reduction, is it thru CSR or backdoor?

I was transferred to a Credit Analyst. She thanked me for always paying on time and managing my account well. Then she dropped it from 20.9% to 14%.

Re: Lowering APRs

johnpalley — Mon, 23 Mar 2015 01:12:39 GMT

Which Amex card do you have at 8 percent?

@L-TWT wrote:
Amex 12.99% -----> 8.24%
Citi 12.99% -----> 10.74%

Re: Lowering APRs

wacdenney — Mon, 23 Mar 2015 01:18:22 GMT

If you need a low APR card designed for carrying a balance, I would suggest jumping on the Ring train.

Re: Lowering APRs

L-TWT — Mon, 23 Mar 2015 01:18:33 GMT

The BCE, opened since 08'

Re: Lowering APRs

newhis — Mon, 23 Mar 2015 03:03:13 GMT

@L-TWT wrote:
Amex 12.99% -----> 8.24%
Citi 12.99% -----> 10.74%

@L-TWT wrote:
The BCE, opened since 08'

I didn't know they can go lower than 12.99% (Amex), thank you.