topic Re: Lowering APR in Credit Cards

Lowering APR

Anonymous — Mon, 26 Oct 2015 18:34:29 GMT

I am looking for any advice on how to lower my APRs.

I graduated college in May and moved away to start a new job. In the process, basically had to start from scratch and buy EVERYTHING. Most of which was charged to my credit cards, as I did not have the money at the time.

The APRs I am looking to decrease are:

Capital One QS - 22.99%

Sallie Mae - 20.99%

My Chase & Discover are both under promotional APRs of 0%. Discover gave me 6 months of 0% due to graduation, and I have 0% with Chase Freedom until March.

If it means anything, I have never missed a payment on any credit card/loan, ever. I always pay the minimum & anything extra that I can afford at the time. Current FICO is around 730; it used to be higher - between 740 and 750. Not the best, but certainly not the worst.

Does anyone have any advice on how to get them to possibly lower the APR on these two cards? Or have experience in doing so? How much of a change could I really even get? It woudn't even have to be permanently, just a few months so I can get everything more under control. Any advice or help is much appreciated! Thank you!

Re: Lowering APR

lhcole77 — Mon, 26 Oct 2015 18:35:37 GMT

When I wanted to lower my APRs on my Barclays card I called the number on the back of the card and asked to have them lowered.

Give that a try.

I was also able to get SP CLIs on both cards on same call.

Re: Lowering APR

Anonymous — Mon, 26 Oct 2015 21:58:29 GMT

@Anonymous wrote:
I am looking for any advice on how to lower my APRs.
I graduated college in May and moved away to start a new job. In the process, basically had to start from scratch and buy EVERYTHING. Most of which was charged to my credit cards, as I did not have the money at the time.

The APRs I am looking to decrease are:
Capital One QS - 22.99%
Sallie Mae - 20.99%

My Chase & Discover are both under promotional APRs of 0%. Discover gave me 6 months of 0% due to graduation, and I have 0% with Chase Freedom until March.
If it means anything, I have never missed a payment on any credit card/loan, ever. I always pay the minimum & anything extra that I can afford at the time. Current FICO is around 730; it used to be higher - between 740 and 750. Not the best, but certainly not the worst.

Does anyone have any advice on how to get them to possibly lower the APR on these two cards? Or have experience in doing so? How much of a change could I really even get? It woudn't even have to be permanently, just a few months so I can get everything more under control. Any advice or help is much appreciated! Thank you!

Well, to be frank, your APR on your quicksilver should be irrelevant. Any balances incurring interest for more than a few statements defeat the purpose of the rewards structure. This should be comforting to you due to the following information. It is extremely difficult and a PITA to adjust APR with Capital One. You can try the social team by sending a message on facebook, or by direct message on twitter. I would email the executive office.

The easiest way to lower the APR with a quicksilver is to endure a triple pull and then combine accounts.

Same with your SM account. Any APR on that doesn't really matter. I would focus more on something else. But I do totally understand. My credit profile has changed by 100 points since getting my quicksilver. My apr is 24.9 as of 11/1. I plan on not using the card very much and see if I'll get a CLI. I will email the EO 11/2 and see what they do, but my expectations are low.

Amex on the other hand, and Citi, are the two easiest to get lowered from what I have seen/experienced. Heck my 3 month old Amex Delta Gold they just let me lower the APR on it.

Re: Lowering APR

OmarGB9 — Mon, 26 Oct 2015 22:37:27 GMT

I thought Barclays was pretty accommodating with APR reductions.