topic Re: Does comenity reduce APRs? in Credit Cards

Does comenity reduce APRs?

kdm31091 — Tue, 21 Jul 2015 14:59:37 GMT

For anyone with comenity cards, is there ever a chance of an APR reduction? Cannot find many data points. My BJs card has a ridiculous 24.99 APR. I PIF on it anyway but its just insulting lol.

I messaged them and they basically told me to kick rocks. Is there a number I should call to at least get a supervisor? Or are they like Chase and simply dont reduce APRs? If so dont wanna waste my time.

Finally, with all the talk about how generous they are I dont see it. Had the card just about a year now and got merely one CLI for 750. I dont care as I only charge 200 or so a month on it anyway, but its just funny to me. I dont need a higher limit on it, but its weird because everyone talks about how generous they are.

Re: Does comenity reduce APRs?

Anonymous — Tue, 21 Jul 2015 15:07:05 GMT

I'm not sure any store cards reduce APRs maybe a few I could be wrong. IMO if you need to carry a bal on a store card your using it wrong. But hey it never hurts to try and given the choice I'd want a lower APR as well.

Re: Does comenity reduce APRs?

CreditCuriosity — Tue, 21 Jul 2015 15:09:07 GMT

Have never seen any data points either about APR reduction... I am guessing not as they are mainly store cards known for high APR%.. Interested to know this as well. Have the Jcrew card with them and the Total Rewards Visa.. Probably all that I will ever open with them unless Virgin ever opens a flight to my town and desitination city.

Edit: You would also think BJ's would have some skin in the game and limit the APR on that card, that is an awful APR% to be quite honest you have on that card and BJ's has some costly stuff as well... You would have to be insane carrying any sizable balance on that card or balance at all for that matter

Re: Does comenity reduce APRs?

kdm31091 — Tue, 21 Jul 2015 15:13:17 GMT

I would never ever carry a balance on it. Its a mastercard so I could use it elsewhere but I never do.

I guess I can just call later and ask. It just seems ridiculous. Im not paying the interest anyway, but that's not the point; its still a slap in the face.

Re: Does comenity reduce APRs?

Anonymous — Tue, 21 Jul 2015 15:55:01 GMT

I have heard that they do on their Visas and MC.

Re: Does comenity reduce APRs?

Anonymous — Tue, 21 Jul 2015 15:58:59 GMT

I called them for an APR reduction on my Fashion Bug card a few weeks ago. The CSR told me that there is nothing they can do, the specific store sets the APR and the bank can't change it. WOW. I have heard some dumb answers before, but that one takes the cake. Anyway, I asked how the store can set the APR, especially when the store is no longer in business. She said "they just do."

The good news is, Fashion Bug really did go out of business so I have no use for the card anyway. I can still use it at other stores (like Maurices), but I don't. I only keep it open because it is my oldest card.

Re: Does comenity reduce APRs?

Anonymous — Tue, 21 Jul 2015 16:32:20 GMT

mean while, comenity's executive office...

"... and then, they wanted their APR reduced"

Re: Does comenity reduce APRs?

FinStar — Tue, 21 Jul 2015 17:39:46 GMT

It's doubtful they'll reduce it. Not to be the party pooper but only certain Comenity card programs offer this flexibility when it comes to APR reductions. I mean, when you applied it clearly indicated two APRs tiers based on creditworthiness, 14.99% (likely for excellent credit profiles) and 24.99%. SYNCB co-branded cards are pretty much similar.

If you PIF then it doesn't matter regardless of the principle. Otherwise, you could close this account and hope for the best in getting a low tier APR on the second round - but we know that's likely not something you'd be willing to do. I believe the APR for BJ's purchases is still 7.99% no matter what profile.

By comparison, the best rate wasn't assigned on your recent approval for Cash+ and Citi DC. This is nothing but risk-based pricing based on creditworthiness. At least with Citi you have the option to see if your account is eligible for the APR reduction after a certain period.

Re: Does comenity reduce APRs?

kdm31091 — Tue, 21 Jul 2015 17:43:56 GMT

Yes, I know where APRs come from and what theyre based on. That wasnt my question. My question was does comenity ever offer reduction or not? Regardless of if im actually eligible for a lower one which is a different story. I was asking if it was possible with them.

I dont remember the BJs card range that was listed when I applied. Youre right it is 7.99 for BJs which is all I use it for anyway so I guess it doesnt matter, but theres no harm in asking. Discover and Amex have lowered my APRs. When my 0 percent on citi runs out ill ask them too. I mean why not? They sure are unlikely to lower it on their own. It seems though that with comenity the concensus is no

Re: Does comenity reduce APRs?

Anonymous — Tue, 21 Jul 2015 17:52:54 GMT

Store cards do not reduce APR's - only major credit cards. And yes, unfortuantely the APR on all store cards is high. But as the prior poster said, it's not the best idea to carry balances on store cards in any event.

Re: Does comenity reduce APRs?

kdm31091 — Tue, 21 Jul 2015 17:55:00 GMT

I never carry a balance on it, like I said. Like many others, its just a matter of principle with wanting a low APR

Oh well all I can do is ask and ill update with the results.

Re: Does comenity reduce APRs?

ddemari — Tue, 21 Jul 2015 17:57:28 GMT

@Anonymous wrote:
mean while, comenity's executive office...

"... and then, they wanted their APR reduced"

Side note, your Discover card is sooo pretty.

Re: Does comenity reduce APRs?

Anonymous — Tue, 21 Jul 2015 18:20:00 GMT

@ddemari wrote:
@Anonymous wrote:
mean while, comenity's executive office...

"... and then, they wanted their APR reduced"

Side note, your Discover card is sooo pretty.

I saw one in person, believe it or not and it looked a little barfy.

Re: Does comenity reduce APRs?

Anonymous — Tue, 21 Jul 2015 20:35:05 GMT

@Anonymous wrote:
mean while, comenity's executive office...

"... and then, they wanted their APR reduced"

That's so funny

Re: Does comenity reduce APRs?

Ups77 — Wed, 22 Jul 2015 01:15:29 GMT

I love that caption.

Re: Does comenity reduce APRs?

kdm31091 — Wed, 22 Jul 2015 01:17:18 GMT

As expected from this thread I called and basically got a flat out no. She said to call back in a few months and try again but the general tone was "ain't gonna happen".

Oh well. 7.99% on BJ's is good enough I guess, since that's all I really use it for

Re: Does comenity reduce APRs?

Anonymous — Wed, 22 Jul 2015 01:22:39 GMT

@kdm31091 wrote:
As expected from this thread I called and basically got a flat out no. She said to call back in a few months and try again but the general tone was "ain't gonna happen".

Oh well. 7.99% on BJ's is good enough I guess, since that's all I really use it for

It has a double APR?

Re: Does comenity reduce APRs?

FinStar — Wed, 22 Jul 2015 02:05:50 GMT

@Anonymous wrote:
@kdm31091 wrote:
As expected from this thread I called and basically got a flat out no. She said to call back in a few months and try again but the general tone was "ain't gonna happen".

Oh well. 7.99% on BJ's is good enough I guess, since that's all I really use it for
It has a double APR?

For specific purchases associated with the store or merchant, yes. Just like the Nordstrom Visa for example, the APR for Nordstrom store/online purchases is lower/separate than the APR for purchases made outside of Nordstrom's (also based on tiers).

Re: Does comenity reduce APRs?

Anonymous — Wed, 22 Jul 2015 03:04:51 GMT

I'm sorry but this just seems silly. You never carry a balance but you are worried about the APR. Now if you will excuse me, I am going to go write to the prime minister of belgium to see if i can get their personal income taxes lower. Wait...no im not.

Re: Does comenity reduce APRs?

RandomSpirit — Wed, 22 Jul 2015 03:16:29 GMT

I sent them an email a few months ago (from their website) requesting a reduction on my SGV and they reduced it 2 pts. yes, not much, but hey it was worth a try.