topic Re: Discover APR Reduction Denial Letter in Credit Cards

Discover APR Reduction Denial Letter

NRB525 — Sat, 25 Jul 2015 19:37:06 GMT

Finally noticed the "letter" that Discover sent me after declining to reduce my APR.

As backstory, I had a temporary CLI from $5k to $8k, which ran from May 2014 to May 2015. In May 2015, of course, the CL went from $8k to $5k, technically a CLD, though based on a temporary CLI to begin with.

So, Discover doesn't care. "You had a CLD, you get no APR relief". Now the question is, is the 4 month thing a standard cooling off period after a CLD, or is it just because May June July is within 4 months of that CLD/APR request? The CSR on the line gave me some vague indication that I had a low APR, which I do with a BT offer that runs into late 2016, but apparently that open BT APR wasn't the deal killer.

End of September, I'm calling again to see if I can get the 18.24% reduced.

Re: Discover APR Reduction Denial Letter

taxi818 — Sat, 25 Jul 2015 19:40:14 GMT

@NRB525 wrote:
Finally noticed the "letter" that Discover sent me after declining to reduce my APR.
As backstory, I had a temporary CLI from $5k to $8k, which ran from May 2014 to May 2015. In May 2015, of course, the CL went from $8k to $5k, technically a CLD, though based on a temporary CLI to begin with.

So, Discover doesn't care. "You had a CLD, you get no APR relief". Now the question is, is the 4 month thing a standard cooling off period after a CLD, or is it just because May June July is within 4 months of that CLD/APR request? The CSR on the line gave me some vague indication that I had a low APR, which I do with a BT offer that runs into late 2016, but apparently that open BT APR wasn't the deal killer.

End of September, I'm calling again to see if I can get the 18.24% reduced.

Damn. you would need to speak with Eo. Technically. it is a cld. But you knew that a year ago. Im just wondering how did you get temp cli in the first place? i guess. you wait it out. and try again. this is weird to say the least.

Re: Discover APR Reduction Denial Letter

bengalikejenga — Sat, 25 Jul 2015 19:41:40 GMT

You denial letter sounds like a Catch-22.... you cant get a an apr reduction because your limit was CLD,

even though the CLD was due to a previously agreed promotion. hmmmm.

Re: Discover APR Reduction Denial Letter

Anonymous — Sat, 25 Jul 2015 20:01:49 GMT

Call recon. Tell them that technically, you weren't CLD. You never really had a CLI to begin with, it was a temporary authorization to exceed your agreed upon $5k line.

Re: Discover APR Reduction Denial Letter

score_building — Sun, 26 Jul 2015 09:41:34 GMT

A card holder generally won't be eligible for APRD with an issuer while in a promo period, regardless of the odd denial reason in the letter received.

The irrelevance of the APRD in this instance is all the more reason to wait until after the promo period end date to try again.

Did someone really recommend EO for this, wow, no wonder cap1 shut theirs down

Re: Discover APR Reduction Denial Letter

Anonymous — Sun, 26 Jul 2015 13:08:52 GMT

I'm really curious what you find out, because this doesn't make sense since they gave you a temporary CLI for a year and now they're using that against you for a APR reduction. Head scratcher.

Re: Discover APR Reduction Denial Letter

Anonymous — Mon, 27 Jul 2015 06:48:55 GMT

This is really a head-scratcher to begin with. Sorry OP that you are caught in what does seem to be a Catch-22 as one of the members stated.

How on earth did you get a "temporary CLI"? I had no idea that those even existed. I understand Amex has a "will my purchase be approved" option - where if your limit is say 10K and you need to buy something for 12K it is possible without being declined. But a temporary CLI?

Sorry, but this situation kind of bugs me. They gave you that promotion and I am assuming that you were responsible with the LOC. Now after all that they do a CLD, and then decline you APR reduction request based on that same fact!

Keep us posted OP. This is just puzzling to say the least. I know that they are the CC provider and can pick and choose their promotions etc. but come on Discover! You have been so good lately lol.

Re: Discover APR Reduction Denial Letter

Existentialist — Mon, 27 Jul 2015 21:42:40 GMT

Can someone please explain the benefit of a temporary CLI. No... I get the purpose.... I mean the benefit cuz I'm not seeing it.

Re: Discover APR Reduction Denial Letter

score_building — Mon, 27 Jul 2015 23:33:22 GMT

@Existentialist wrote:
Can someone please explain the benefit of a temporary CLI. No... I get the purpose.... I mean the benefit cuz I'm not seeing it.

Be a baller, or just look like one temporarily

but yeah, it's sorta an odd concept, could be called: Planned CLD.