topic Re: Cap One APR decrease in Credit Cards

Cap One APR decrease

Anonymous — Sun, 26 Jun 2016 21:02:29 GMT

Howdy folks! Has anyone had any experience with Cap 1 lowering their interest rate for longer than a few months? I'm treating my credit so much better than in the past and it's really paid off. This forum has been a big help. I'm just thinking into the future if there ever is a time I can't PIF, the interest rate is just too danged high! I got a card from PenFed recently (after my auto loan) and it's the lowest by far. I just don't want to ditch the Cap 1 because I recently PC'd it to a QS. Any advice would be lovely!

Re: Cap One APR decrease

RonM21 — Tue, 28 Jun 2016 22:13:44 GMT

Sorry nobody has yet tot respond. I personally never asked for an APR decrease, so I can't speak from experience. Try searching the threads on "Cap1 APR Reduction" or along those lines.

Re: Cap One APR decrease

kdm31091 — Tue, 28 Jun 2016 22:30:29 GMT

They do not do permanent APR reductions. The only way to (maybe) get one is to go the EO route, but the reductions tend to be pretty small no matter what.

Re: Cap One APR decrease

Anonymous — Wed, 29 Jun 2016 00:29:52 GMT

Well poop. That's unfortunate. Oh well. I guess it doesn't really matter since I do have a card with a much lower APR. I'll just continue to PIF or not use it for larger purchases. Thanks!

Re: Cap One APR decrease

Anonymous — Wed, 29 Jun 2016 00:37:49 GMT

You can get them in annual spurts tho! Just got two of my Cap1 cards APR decreased for next 12mos ..

Re: Cap One APR decrease

Anonymous — Wed, 29 Jun 2016 16:46:37 GMT

It just seems odd (or not in the consumers best interest) to not take better scores into consideration in terms of interest rates like they do CLI. My QS is over 20% (PC'd from the platinum). I'd have been better off applying for the QS cold. Perhaps I'd have gotten the lowest interest rate they have now (13.24). I think I'm overthinking because my prequals for Chase give me the lowest apr and the PenFed card I just got has the lowest APR too. I want my Cap1 to be low too! LOL I've got one more app out and then to the card I go!