topic Re: Negotiating Lower CC APRs in Credit Cards

Negotiating Lower CC APRs

Medic981 — Fri, 07 Sep 2018 00:21:43 GMT

Does anyone have any strategies to sucessfully negotiate a lower CC interest rate other than just calling and asking for a reduction?

While gardening, I have been able to get a few CLIs and one APR reduction. The CLIs are pretty straightforward. Getting interest rates reduced is like talking to bewildered children. Any suggestions or tactics are appreciated.

Re: Negotiating Lower CC APRs

Anonymous — Fri, 07 Sep 2018 00:30:25 GMT

I haven’t seen any tactics besides calling and asking.

Just know, some issuers don’t reduce APR’s period. Others may offer you a reduced APR for a limited time only.

Re: Negotiating Lower CC APRs

Anonymous — Fri, 07 Sep 2018 00:44:54 GMT

And others will tell you to call back after initial 0% promotional deals are over.

Re: Negotiating Lower CC APRs

Medic981 — Fri, 07 Sep 2018 00:53:46 GMT

@Anonymous wrote:
And others will tell you to call back after initial 0% promotional deals are over.

I am not in the habit of trying to reduce the APR of a 0% promotion interest rate. Zero percent minus 14.74... carry the one... hmm... check my math but that is still 0%. :~

Re: Negotiating Lower CC APRs

Anonymous — Fri, 07 Sep 2018 00:57:30 GMT

@Medic981 wrote:
@Anonymous wrote:
And others will tell you to call back after initial 0% promotional deals are over.
I am not in the habit of trying to reduce the APR of a 0% promotion interest rate. Zero percent minus 14.74... carry the one... hmm... check my math but that is still 0%. :~

Yeah well I did, never carried balances so I forgot I still have the promotional rate.

Re: Negotiating Lower CC APRs

Medic981 — Fri, 07 Sep 2018 01:04:35 GMT

@Anonymous wrote:
@Medic981 wrote:
@Anonymous wrote:
And others will tell you to call back after initial 0% promotional deals are over.
I am not in the habit of trying to reduce the APR of a 0% promotion interest rate. Zero percent minus 14.74... carry the one... hmm... check my math but that is still 0%. :~
Yeah well I did, never carried balances so I forgot I still have the promotional rate.

LOL... I usually start by asking the CSR what my current APR is running. So that hasn't happened to me yet.

Re: Negotiating Lower CC APRs

UncleB — Fri, 07 Sep 2018 05:36:53 GMT

@Medic981 wrote:
Does anyone have any strategies to sucessfully negotiate a lower CC interest rate other than just calling and asking for a reduction?

While gardening, I have been able to get a few CLIs and one APR reduction. The CLIs are pretty straightforward. Getting interest rates reduced is like talking to bewildered children. Any suggestions or tactics are appreciated.

It is really issuer-dependent; you'll get better answers if you tell us what issuers you have in mind.

Re: Negotiating Lower CC APRs

AverageJoesCredit — Fri, 07 Sep 2018 12:08:53 GMT

I always find calling and threatening to cancel your card if you dont lower the apr works well

Re: Negotiating Lower CC APRs

digitek — Fri, 07 Sep 2018 12:22:31 GMT

Yeah, issuer dependant, but no harm in asking.

Chase will lol at you and tell you they monitor your account and will lower the APR if they want to.

Citi is pretty much always down to lower APR as long as you are a good customer.

USAA won't do it.

Re: Negotiating Lower CC APRs

Anonymous — Fri, 07 Sep 2018 17:18:37 GMT

CLIs and APRR are for babies! Try useful things, like negotiating rewards. "I want 8% Supermarket on my BCP, and raise the cap to $20K", "Make my double cash triple-cash" "Add united as a 2x category on my American card"

Don't hear those types of stories, wonder why!

Re: Negotiating Lower CC APRs

galahad15 — Fri, 07 Sep 2018 23:43:17 GMT

@Medic981 wrote:
Does anyone have any strategies to sucessfully negotiate a lower CC interest rate other than just calling and asking for a reduction?

While gardening, I have been able to get a few CLIs and one APR reduction. The CLIs are pretty straightforward. Getting interest rates reduced is like talking to bewildered children. Any suggestions or tactics are appreciated.

Instead of requesting an APR reduction for cards with high interest rates, I would recommend applying (especially if your FICO scores are excellent) for a new, credit union card with a low APR. For specific CU issuers with low APRs that are open to new apps, please refer to my earlier post here, and/or check out themanwhocan and his low-APR card chart (post #7 in the link).