topic Re: Best Approach for Requesting APR Reduction in Credit Cards

Best Approach for Requesting APR Reduction

kshurika — Tue, 11 Jun 2019 21:26:30 GMT

The subject line pretty much says it all. I'm interested in hearing your stories. I prefer the direct, yet polite, approach, but I want to make sure I don't step into a bear trap. Lemme have it!

Re: Best Approach for Requesting APR Reduction

Loquat — Tue, 11 Jun 2019 21:43:26 GMT

With Citi you can use online Chat to ask if a lower rate is available. Discover used to have Chat but it has since been removed...at least on my end. However you can still send them a secure message and request the same. If an offer is available you'll get it...

Re: Best Approach for Requesting APR Reduction

CramEiko — Tue, 11 Jun 2019 21:45:47 GMT

Ask

Cap1 is the only one that I keep asking. They just give you a temp reduction. At least in my case they do.

Good Luck!

Re: Best Approach for Requesting APR Reduction

UncleB — Wed, 12 Jun 2019 09:51:08 GMT

@CramEiko wrote:
Ask

Cap1 is the only one that I keep asking. They just give you a temp reduction. At least in my case they do.

Good Luck!

FWIW Capital One isn't known to give permanent APR reductions... all you'll ever get from them are temporary reductions.

Re: Best Approach for Requesting APR Reduction

kdm31091 — Wed, 12 Jun 2019 10:26:23 GMT

It's really just a matter of asking, keeping in mind not all lenders do permanent APR redutions upon request, so sometimes you won't have any luck just because of how the lender operates.

Re: Best Approach for Requesting APR Reduction

Blackswizz750 — Wed, 12 Jun 2019 13:07:08 GMT

Just call and ask. They will at least approve one if its available. Disco is good for the 12 month 0% and Cap1 gave me a reduction for set period.

Re: Best Approach for Requesting APR Reduction

zerofire — Thu, 13 Jun 2019 02:14:35 GMT

Most banks have heard requests for a lower APR before and have figured out a way to make it work for everyone. Some banks only offer temporary reductions like Capitol One while others like Discover like to pre-approve a 12mo 0% offer for their reps to hand out like lollipops. It really depends on the bank and what they are willing to do for you. Most permanent reductions only happen as a part of a loss of employment along with negotiating a payment plan for a closed account but you never know what a Bank can pull out of their bag of tricks. I had Citi give me a temporary low APR without me asking for it not that I plan on using it. Lastly being nice and courteous works wonders. The reps hear demands, whining, and take a beating all day long so being easy to work with goes a long way for them to just want to help you out.

Re: Best Approach for Requesting APR Reduction

wasCB14 — Thu, 13 Jun 2019 04:45:48 GMT

I will occasionally just call. I say I have some large purchases coming up and want to see if they have any special offers for my account, either in the form of extra rewards or a 0% period.

Re: Best Approach for Requesting APR Reduction

ChargedUp — Thu, 13 Jun 2019 05:49:05 GMT

I just recently got a 2% APR reduction on my BoA card. Called the number on the card and just asked.