topic Re: BoA APR Reduction! in Credit Cards

BoA APR Reduction!

Anonymous — Thu, 26 May 2016 17:29:51 GMT

Background - I started my recovery with a BOA fully secured card. Had it for 12 months, they didn't graduate it.. I had very little understanding of what credit card companies see as "good" at the time. Did some research and really got involved here, changed how I spent my money and used my card, and at/around the 18 month mark contacted the executive office with a polite request to graduate the card. Sprinkled "I'm buying a house in the next couple of years, wouldn't BoA like my business?" heavily there... and it worked, my $300 fully secured card went to $1800 unsecured.

That fall of last year, I haven't touched the account in terms of looking for improvements but I use it as my personal spend as it's the rewards card, push somewhere between $1200-1700 monthly through it, PIF or close to PIF each month in multiple payments. 'Bout 9 months of that style history on my account.

So with all those data points I figured I could probably get my APR lowered. I called in not expecting a whole lot, maybe a point or two - ended up going from 20.49 to 17.24%!

AND they tried to sell me hard on their Travel Rewards card, said my excellent history with BoA qualifies me for a 0% for 18mo offer and would I like to take the HP and provide income to get my credit limit? I declined but man that's probably the best feeling I've had in a long time. It's the first time someone's offered me credit and I turned it down, LOL!

So if you are a BoA card holder and you haven't recently... call in for an SP APR reduction!

Re: BoA APR Reduction!

Anonymous — Thu, 26 May 2016 17:46:59 GMT

That is awesome! !! I am going to call today and see what they say. My current rate is also 20.49%.

Re: BoA APR Reduction!

Anonymous — Thu, 26 May 2016 17:57:28 GMT

@Anonymous wrote:
That is awesome! !! I am going to call today and see what they say. My current rate is also 20.49%.

I have the BoA Cashel rewards card. I just called customer service and I do not qualify for an APR reduction at this time.

Not a huge deal sineI PIF each month but it would have been nice.

Re: BoA APR Reduction!

Anonymous — Fri, 27 May 2016 22:11:36 GMT

Definitely worth trying in 60-90 days, I'd think. I've had mine since '13 and this is the first time I've inquired for one of these, so I don't know how much they take into consideration account age... but since it doesn't cost anything to call in and ask, this is definitely going on my 'sporatically do' list for the future! Right along with doing the same thing for my Barclay's card...

Re: BoA APR Reduction!

RonM21 — Sun, 29 May 2016 19:55:07 GMT

Nice to see. Something I should be thinking about lookimg in to myself.

Re: BoA APR Reduction!

SuperGotenks — Sun, 02 Oct 2016 22:56:09 GMT

I did a google search for BofA APR reductions and this thread came up.

I called just now and had mine reduced from 22.24% down to 14.24% and 17.24% for Direct Deposits and Cash Advances. I thought they would tell me that nothing was available, but I was wrong. Very simple and painless.

Re: BoA APR Reduction!

Anonymous — Mon, 03 Oct 2016 02:17:26 GMT

@SuperGotenks wrote:
I did a google search for BofA APR reductions and this thread came up.

I called just now and had mine reduced from 22.24% down to 14.24% and 17.24% for Direct Deposits and Cash Advances. I thought they would tell me that nothing was available, but I was wrong. Very simple and painless.

Very nice! Think I will call this week too since my account is a little over a year old now! Did you call the number on the card or one of the backdoor #s?

Re: BoA APR Reduction!

galahad15 — Mon, 03 Oct 2016 02:49:20 GMT

Congrats!

Re: BoA APR Reduction!

JustBPatient — Mon, 03 Oct 2016 16:40:21 GMT

Nice work and congrats!!

Re: BoA APR Reduction!

SuperGotenks — Mon, 03 Oct 2016 18:02:31 GMT

@jfriend33

I called the number on the back of the card and told them I wanted an APR reduction. They put me on hold and transferred me to someone else.