topic Re: Discover APR Reduction in Credit Cards

Discover APR Reduction

JamP — Thu, 30 Jun 2016 00:10:56 GMT

So I got on Discover chat and asked about the date my double cash back will be applied since its been over a year now. Her answer was August.

I told her I plan on using a lot of my balance on Windows for my house (after July 1) and may have to carry a balance. She offered to look into a APR reduction.

She came back and said "I have good news! I see that your account qualifies for a standard APR reduction to 18.49% variable on your new purchases. Would you like to take advantage of this offer?"

I was at almost 24% so I took it.

Went over to the CLI button and hit it and I got the 2 day message which is new to me, I never received that message before.

Wonder which card to ask for a APR Reduction next

Re: Discover APR Reduction

UncleB — Thu, 30 Jun 2016 00:27:18 GMT

@JamP wrote:
So I got on Discover chat and asked about the date my double cash back will be applied since its been over a year now. Her answer was August.

I told her I plan on using a lot of my balance on Windows for my house (after July 1) and may have to carry a balance. She offered to look into a APR reduction.

She came back and said "I have good news! I see that your account qualifies for a standard APR reduction to 18.49% variable on your new purchases. Would you like to take advantage of this offer?"

I was at almost 24% so I took it.

Went over to the CLI button and hit it and I got the 2 day message which is new to me, I never received that message before.

Wonder which card to ask for a APR Reduction next

That's one heck of an APR reduction, my friend! Huge congrats!

My 0% promo is over in August, and I'm hoping I'll be as fortunate as you. <fingers crossed>

Re: Discover APR Reduction

JamP — Thu, 30 Jun 2016 00:36:33 GMT

Thanks UB.

I am sure you will be able to get a better reduction then I did.

Here is the response I got on 6/10/16 when I asked.

Dear JP, We are writing with information about your recent request to have the standard Annual Percentage Rate (APR) for purchases lowered on your Discover it® card account. At this time, because you already have the lowest APR that your account is eligible for, we are unable to lower your rate further.

I really think it has to do with who you get on chat and possibly my fico score jumped 20+ points.

Re: Discover APR Reduction

jacetx — Thu, 30 Jun 2016 00:29:12 GMT

@UncleB wrote:
@JamP wrote:
So I got on Discover chat and asked about the date my double cash back will be applied since its been over a year now. Her answer was August.

I told her I plan on using a lot of my balance on Windows for my house (after July 1) and may have to carry a balance. She offered to look into a APR reduction.

She came back and said "I have good news! I see that your account qualifies for a standard APR reduction to 18.49% variable on your new purchases. Would you like to take advantage of this offer?"

I was at almost 24% so I took it.

Went over to the CLI button and hit it and I got the 2 day message which is new to me, I never received that message before.

Wonder which card to ask for a APR Reduction next
That's one heck of an APR reduction, my friend! Huge congrats!

My 0% promo is over in August, and I'm hoping I'll be as fortunate as you. <fingers crossed>

You don't have to wait. I requested mine a couple months ago and my promo period ends in October.

Re: Discover APR Reduction

UncleB — Thu, 30 Jun 2016 00:52:02 GMT

jace8602 wrote
You don't have to wait. I requested mine a couple months ago and my promo period ends in October.

Hmm... that's very interesting!

Since it's not urgent (I have already transferred the balance to another card) I think I'll still wait, with the hope that when I ask for the reduction they'll give me the option of another year at 0%. That seems to be a possibility in some cases, and I would love to have that again (I can always try for another reduction next year).

It's really nice to have a card with a 0% promo... even though I PIF, there are times when it's nice to have the option to let a balance float over to the next month, assuming there's no added cost, that is.

Re: Discover APR Reduction

Anonymous — Thu, 30 Jun 2016 02:57:21 GMT

I tried getting a Discover APR reduction today, and they told me to check back once my 0% introductory period is up in August.

Re: Discover APR Reduction

Imperfectfuture — Thu, 30 Jun 2016 03:05:19 GMT

@Anonymous wrote:
I tried getting a Discover APR reduction today, and they told me to check back once my 0% introductory period is up in August.

Same with moi, though told that in May (0% over now). Want the option of another 0%, so will ask after I move, when we get into the Amazon time period.

Re: Discover APR Reduction

galahad15 — Thu, 30 Jun 2016 13:20:44 GMT

Congrats JamP!

Re: Discover APR Reduction

RonM21 — Thu, 30 Jun 2016 20:23:21 GMT

Nicely done. That isn't a small reduction either by any means.