topic Re: Comenity drops APR on Total Rewards Card in Credit Cards

Comenity drops APR on Total Rewards Card

pipeguy — Mon, 14 Mar 2016 21:41:51 GMT

I have only one Comenity card, a Total Rewards Visa with a $10.5k CL which started at 21+ APR, 8 months ago I asked for a reduction in the APR and they dropped it to 17.99 (which went up .25 with the prime rate increase earlier this year). Over the weekend I sent a secure message and asked if an APR reduction was possible and today I got the message that they've dropped my rate to 14.24 which they said is the lowest "possible" rate. I don't know if they'll reissue my card as a Signature now which would be nice for the ego but otherwise unimportant.

I almost always PIF all of my cards unless I'm utilizing a 00% promotion, but still my opinion of Comenity went up a notch and with a decent credit limit and a moderate APR, I'll be using the card more as a daily spender. I value lenders that value my business, those that hold out for high APR's and don't grow....those I close (Cap-1 comes to mind).

Re: Comenity drops APR on Total Rewards Card

CreditMagic7 — Mon, 14 Mar 2016 21:09:53 GMT

Well i have yet to have ever bothered even using their online SM system on any cards (usually phone call) but the confidence and results that are shared in this post just encouraged me to try it too.

Thanks for sharing

Re: Comenity drops APR on Total Rewards Card

Anonymous — Mon, 14 Mar 2016 21:39:11 GMT

Nice... Enjoy it.

Re: Comenity drops APR on Total Rewards Card

FinStar — Mon, 14 Mar 2016 21:59:27 GMT

@pipeguy wrote:
I have only one Comenity card, a Total Rewards Visa with a $10.5k CL which started at 21+ APR, 8 months ago I asked for a reduction in the APR and they dropped it to 17.99 (which went up .25 with the prime rate increase earlier this year). Over the weekend I sent a secure message and asked if an APR reduction was possible and today I got the message that they've dropped my rate to 14.24 which they said is the lowest "possible" rate. I don't know if they'll reissue my card as a Signature now which would be nice for the ego but otherwise unimportant.

I almost always PIF all of my cards unless I'm utilizing a 00% promotion, but still my opinion of Comenity went up a notch and with a decent credit limit and a moderate APR, I'll be using the card more as a daily spender. I value lenders that value my business, those that hold out for high APR's and don't grow....those I close (Cap-1 comes to mind).

Great results on lowering the APR OP. As far as Visa Signature, sorry...no upgrade/reissue. If you were approved for a non-Signature version, the product stays as such unless you want to reapply and see if it gets approved as VS.

Re: Comenity drops APR on Total Rewards Card

someg33k — Mon, 14 Mar 2016 22:30:31 GMT

@FinStar wrote:
@pipeguy wrote:
I have only one Comenity card, a Total Rewards Visa with a $10.5k CL which started at 21+ APR, 8 months ago I asked for a reduction in the APR and they dropped it to 17.99 (which went up .25 with the prime rate increase earlier this year). Over the weekend I sent a secure message and asked if an APR reduction was possible and today I got the message that they've dropped my rate to 14.24 which they said is the lowest "possible" rate. I don't know if they'll reissue my card as a Signature now which would be nice for the ego but otherwise unimportant.

I almost always PIF all of my cards unless I'm utilizing a 00% promotion, but still my opinion of Comenity went up a notch and with a decent credit limit and a moderate APR, I'll be using the card more as a daily spender. I value lenders that value my business, those that hold out for high APR's and don't grow....those I close (Cap-1 comes to mind).
Great results on lowering the APR OP. As far as Visa Signature, sorry...no upgrade/reissue. If you were approved for a non-Signature version, the product stays as such unless you want to reapply and see if it gets approved as VS.

Congrats OP.

FinStar are you sure they cant upgrade to siggy?

Re: Comenity drops APR on Total Rewards Card

Anonymous — Mon, 14 Mar 2016 22:56:59 GMT

@someg33k wrote:
@FinStar wrote:
@pipeguy wrote:
I have only one Comenity card, a Total Rewards Visa with a $10.5k CL which started at 21+ APR, 8 months ago I asked for a reduction in the APR and they dropped it to 17.99 (which went up .25 with the prime rate increase earlier this year). Over the weekend I sent a secure message and asked if an APR reduction was possible and today I got the message that they've dropped my rate to 14.24 which they said is the lowest "possible" rate. I don't know if they'll reissue my card as a Signature now which would be nice for the ego but otherwise unimportant.

I almost always PIF all of my cards unless I'm utilizing a 00% promotion, but still my opinion of Comenity went up a notch and with a decent credit limit and a moderate APR, I'll be using the card more as a daily spender. I value lenders that value my business, those that hold out for high APR's and don't grow....those I close (Cap-1 comes to mind).
Great results on lowering the APR OP. As far as Visa Signature, sorry...no upgrade/reissue. If you were approved for a non-Signature version, the product stays as such unless you want to reapply and see if it gets approved as VS.
Congrats OP.

FinStar are you sure they cant upgrade to siggy?

Congratulations, OP! I've been able to get my Total Rewards interest rate down as well.

re/ someg's question, I have a Visa Signature - and Comenity will not upgrade to Visa Signature. Sorry.

Re: Comenity drops APR on Total Rewards Card

CreditCuriosity — Mon, 14 Mar 2016 22:59:24 GMT

Need to try this soon again as soon as my Freeze goes back on place on all my reports to make sure they don't try to sneak in a HP while asking.. Doubtful, but why risk it. Assume the ones that did get the apr reduced no HP was taken?

Re: Comenity drops APR on Total Rewards Card

CreditMagic7 — Mon, 14 Mar 2016 23:01:11 GMT

One thing that i have noticed with BOTH synchrony and comenity is that once they approve you for a non-siggy you're glued to that structured card and they won't bother even discussing it because i think it's hard coded per account.

Siggy to me just isn't that important enough to bug those people over it just because some lenders can.

Re: Comenity drops APR on Total Rewards Card

ojefferyo — Mon, 14 Mar 2016 23:01:54 GMT

No reason to get the signature card on the TR, they stopped the "revolving" part of it in February so it's technically a hard limit card.

Re: Comenity drops APR on Total Rewards Card

CreditCuriosity — Mon, 14 Mar 2016 23:05:18 GMT

@ojefferyo wrote:
No reason to get the signature card on the TR, they stopped the "revolving" part of it in February so it's technically a hard limit card.

ya same with the VA card... Assume they did it for all their signature cards. Just prettier is all

Re: Comenity drops APR on Total Rewards Card

CreditMagic7 — Mon, 14 Mar 2016 23:19:45 GMT

That Comenity does APR reductions at all is good news and a welcome find.

I recently closed my highest APR card which just happened to be with them in the Overstock Card sporting a 26.99% (before Fed rate hike) but would have closed it anyway given that Ebates Visa offers cash back shopping there so a no-brainer

Re: Comenity drops APR on Total Rewards Card

Anonymous — Mon, 14 Mar 2016 23:24:32 GMT

Congrats OP!

I might give their SM a look now. APR reductions are ALWAYS welcome!

Re: Comenity drops APR on Total Rewards Card

kdm31091 — Mon, 14 Mar 2016 23:36:20 GMT

AFAIK no option to upgrade to siggy with comenity. Youd have to reapply. Not worth it in 99 percent of cases.

Re: Comenity drops APR on Total Rewards Card

someg33k — Mon, 14 Mar 2016 23:41:02 GMT

FYI I have gotten 2 APR reductions on this card and never a HP. I assume its based on recent SP and account history.

Re: Comenity drops APR on Total Rewards Card

someg33k — Mon, 14 Mar 2016 23:44:12 GMT

@Anonymous wrote:
@someg33k wrote:
@FinStar wrote:
@pipeguy wrote:
I have only one Comenity card, a Total Rewards Visa with a $10.5k CL which started at 21+ APR, 8 months ago I asked for a reduction in the APR and they dropped it to 17.99 (which went up .25 with the prime rate increase earlier this year). Over the weekend I sent a secure message and asked if an APR reduction was possible and today I got the message that they've dropped my rate to 14.24 which they said is the lowest "possible" rate. I don't know if they'll reissue my card as a Signature now which would be nice for the ego but otherwise unimportant.

I almost always PIF all of my cards unless I'm utilizing a 00% promotion, but still my opinion of Comenity went up a notch and with a decent credit limit and a moderate APR, I'll be using the card more as a daily spender. I value lenders that value my business, those that hold out for high APR's and don't grow....those I close (Cap-1 comes to mind).
Great results on lowering the APR OP. As far as Visa Signature, sorry...no upgrade/reissue. If you were approved for a non-Signature version, the product stays as such unless you want to reapply and see if it gets approved as VS.
Congrats OP.

FinStar are you sure they cant upgrade to siggy?
Congratulations, OP! I've been able to get my Total Rewards interest rate down as well.

re/ someg's question, I have a Visa Signature - and Comenity will not upgrade to Visa Signature. Sorry.

Agreed! That with Comenity and Sync you are "stuck" as is. My Ebates card has an 8K limit but will never grow up to be a Siggy. :'( As is my TR VISA

That last comment I made to FinStar was somewhat of a private joke

Re: Comenity drops APR on Total Rewards Card

CreditCuriosity — Mon, 14 Mar 2016 23:47:21 GMT

@someg33k wrote:
FYI I have gotten 2 APR reductions on this card and never a HP. I assume its based on recent SP and account history.

thanks

Re: Comenity drops APR on Total Rewards Card

Anonymous — Tue, 15 Mar 2016 00:52:47 GMT

@pipeguy wrote:
I have only one Comenity card, a Total Rewards Visa with a $10.5k CL which started at 21+ APR, 8 months ago I asked for a reduction in the APR and they dropped it to 17.99 (which went up .25 with the prime rate increase earlier this year). Over the weekend I sent a secure message and asked if an APR reduction was possible and today I got the message that they've dropped my rate to 14.24 which they said is the lowest "possible" rate. I don't know if they'll reissue my card as a Signature now which would be nice for the ego but otherwise unimportant.

I almost always PIF all of my cards unless I'm utilizing a 00% promotion, but still my opinion of Comenity went up a notch and with a decent credit limit and a moderate APR, I'll be using the card more as a daily spender. I value lenders that value my business, those that hold out for high APR's and don't grow....those I close (Cap-1 comes to mind).

Wow this is great news !!! I will check to see if I am lucky to get a lower APR , congrats !!

Re: Comenity drops APR on Total Rewards Card

Anonymous — Tue, 15 Mar 2016 00:54:23 GMT

@CreditCuriousity wrote:
Need to try this soon again as soon as my Freeze goes back on place on all my reports to make sure they don't try to sneak in a HP while asking.. Doubtful, but why risk it. Assume the ones that did get the apr reduced no HP was taken?

CC, when is your next CLI on your Total Rewards Card? I am waiting for the 6 months mark, April 11 is the days and see !!

Re: Comenity drops APR on Total Rewards Card

CreditCuriosity — Tue, 15 Mar 2016 01:13:54 GMT

@Anonymous wrote:
@CreditCuriousity wrote:
Need to try this soon again as soon as my Freeze goes back on place on all my reports to make sure they don't try to sneak in a HP while asking.. Doubtful, but why risk it. Assume the ones that did get the apr reduced no HP was taken?
CC, when is your next CLI on your Total Rewards Card? I am waiting for the 6 months mark, April 11 is the days and see !!

Would have to check about 2-3 more months I believe, got one not to long ago.. Question is Virgin America every 6 or 9 months for first one? Tried other day on that and account not old enough I think it was 4.5 months at time, so different schedule for that card apparently.

Re: Comenity drops APR on Total Rewards Card

Anonymous — Tue, 15 Mar 2016 01:17:51 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
@CreditCuriousity wrote:
Need to try this soon again as soon as my Freeze goes back on place on all my reports to make sure they don't try to sneak in a HP while asking.. Doubtful, but why risk it. Assume the ones that did get the apr reduced no HP was taken?
CC, when is your next CLI on your Total Rewards Card? I am waiting for the 6 months mark, April 11 is the days and see !!
Would have to check about 2-3 more months I believe, got one not to long ago.. Question is Virgin America every 6 or 9 months for first one? Tried other day on that and account not old enough I think it was 4.5 months at time, so different schedule for that card apparently.

I tried Virgin at the 5 months mark and it was too soon ( that what they told me) so I will waiting until the 7 or 8 months mark to see