topic Re: Chase APR% Reduction Promo in Credit Cards

Chase APR% Reduction Promo

SoCalifornia — Wed, 09 Oct 2019 21:16:44 GMT

Has anyone else had this promo come in, via email? I'm certain that it's catering to the upcoming holiday season. What is the likelihood of keeping it after the promotional time frame has ended? I don't normally get worked up over APR, since it's not commonplace for me to carry much of a balance. But still, nevertheless. I'm coming up on seven years with my Freedom and realized that I've never asked for a reduction, nor seen one.

Re: Chase APR% Reduction Promo

CreditCuriosity — Wed, 09 Oct 2019 21:20:19 GMT

Nice gesture, but still a scary APR for the holiday season to carry any balance on.. Citi was just offered a 7.99 apr through i believe half of next year on my DC. Chase does this on occassion as well, but i thought it was usually better than 12.99%. Havent received one this year, but did get a permanent apr reduction from 24.x to lowest published APR which is I believe is 17.x several months back as did others

Re: Chase APR% Reduction Promo

FinStar — Wed, 09 Oct 2019 21:35:38 GMT

@SoCalifornia wrote:

Has anyone else had this promo come in, via email? I'm certain that it's catering to the upcoming holiday season. What is the likelihood of keeping it after the promotional time frame has ended? I don't normally get worked up over APR, since it's not commonplace for me to carry much of a balance. But still, nevertheless. I'm coming up on seven years with my Freedom and realized that I've never asked for a reduction, nor seen one.

The likelihood is unlikely. Once the promotional offer expires your account reverts back to the standard APR. From time to time, targeted APR reductions can occur, but they're very seldom with Chase (as the DP provided above by @CreditCuriosity).

Re: Chase APR% Reduction Promo

Remedios — Wed, 09 Oct 2019 21:57:51 GMT

Is it applicable to cash advances? 😐

just kiddin' but it's kinda funny what Chase considers promotional APR 😒

Re: Chase APR% Reduction Promo

NRB525 — Wed, 09 Oct 2019 22:42:00 GMT

You've probably got a much better "promotional APR" via a no-fee transfer to your Discover card. Buy on Chase card, BT to Discover, 4.99% APR.

The only complication is if you want to use the Discover 5% categories, but if it has been 6 months or more since your last 0% Discover purchase promo rate expired, you can ring them up to ask for that.

Stack the 0% Discover purchases with 4.99% from Chase balances transfer and it beats the Chase not-good rate.

Re: Chase APR% Reduction Promo

SlideOrInsert — Wed, 09 Oct 2019 23:35:46 GMT

citi offered me 3.99%

last time I called discover to ask for an apr reduction, they offered me 0% on purchases for 12 months. I have not had an offer for "no-fee" BT since 2018, always 3-4% fee now.

Re: Chase APR% Reduction Promo

SoCalifornia — Thu, 10 Oct 2019 01:20:15 GMT

@CreditCuriosity wrote:
Nice gesture, but still a scary APR for the holiday season to carry any balance on.. Citi was just offered a 7.99 apr through i believe half of next year on my DC. Chase does this on occassion as well, but i thought it was usually better than 12.99%. Havent received one this year, but did get a permanent apr reduction from 24.x to lowest published APR which is I believe is 17.x several months back as did others

Perhaps, but I've never had an outstanding APR offered to me on any of my accounts, as I was building for several years. 12.99% may be abysmal for some of you seasoned cardholders, but it's essentially half of my current rate. With that said, I rarely carry large enough balances for it to matter much. But, it's worth bringing up the topic. I was curious if anyone had a promotional rate and period offered to them to which they were able to discuss with a CSR and make it permanent. I've never called and spoken with a rep about APR, since I've only recently began to reach milestones with my credit.

Side note: The holiday seasons don't really concern me when it comes to finances, as we've always been a frugal family.

Re: Chase APR% Reduction Promo

SoCalifornia — Thu, 10 Oct 2019 01:26:55 GMT

@NRB525 wrote:
You've probably got a much better "promotional APR" via a no-fee transfer to your Discover card. Buy on Chase card, BT to Discover, 4.99% APR.

The only complication is if you want to use the Discover 5% categories, but if it has been 6 months or more since your last 0% Discover purchase promo rate expired, you can ring them up to ask for that.

Stack the 0% Discover purchases with 4.99% from Chase balances transfer and it beats the Chase not-good rate.

Great strategy, except, unfortunately my Disco 0% promotional APR just ended and it will match Freedom's going rate which would make it moot. I was considering several BT specific cards to maybe move some things around, but I'm realistically only around 21% util- and that's due to a recent large purchase, so it's nothing major that I can't manage, when gardening seems like the better plan as I have my eye on USB's Cash+ that I was denied for some months ago.

Re: Chase APR% Reduction Promo

FinStar — Thu, 10 Oct 2019 01:30:58 GMT

@SoCalifornia wrote:
@CreditCuriosity wrote:
Nice gesture, but still a scary APR for the holiday season to carry any balance on.. Citi was just offered a 7.99 apr through i believe half of next year on my DC. Chase does this on occassion as well, but i thought it was usually better than 12.99%. Havent received one this year, but did get a permanent apr reduction from 24.x to lowest published APR which is I believe is 17.x several months back as did others
Perhaps, but I've never had an outstanding APR offered to me on any of my accounts, as I was building for several years. 12.99% may be abysmal for some of you seasoned cardholders, but it's essentially half of my current rate. With that said, I rarely carry large enough balances for it to matter much. But, it's worth bringing up the topic. I was curious if anyone had a promotional rate and period offered to them to which they were able to discuss with a CSR and make it permanent. I've never called and spoken with a rep about APR, since I've only recently began to reach milestones with my credit.

Side note: The holiday seasons don't really concern me when it comes to finances, as we've always been a frugal family.

Some lenders like Discover, BoA, Citi, etc., have some flexibility to lower your permanent APR if the account is eligible. Chase, like Capital One, SYNCB, etc., does not entertain any customer-initiated requests for lowering the APR, regardless how long you've had the account, FICO score improvements, being Superman or Wonder Woman. Some lenders just roll like that.

Re: Chase APR% Reduction Promo

Remedios — Thu, 10 Oct 2019 02:04:17 GMT

😐

Re: Chase APR% Reduction Promo

Anonymous — Thu, 10 Oct 2019 02:09:52 GMT

Re: Chase APR% Reduction Promo

SoCalifornia — Thu, 10 Oct 2019 02:11:20 GMT

@Remedios wrote:
😐

Re: Chase APR% Reduction Promo

kilroy8 — Thu, 10 Oct 2019 02:13:46 GMT

They're all over the place with this. I got 10.99 this AM, OP got 12.99, and now she's in with 8.99.

Not gonna put a balance on this card anyway, but it doesn't hurt to activate.

Re: Chase APR% Reduction Promo

Remedios — Thu, 10 Oct 2019 02:34:54 GMT

@SoCalifornia wrote:
@Remedios wrote:
😐

Nah, they are probably hoping I do cash advance on this one now

I've been with Chase for so long, it's like we've been married for 70 years and the only reason I did not poison them yet is because I know I'm only staying alive to spite them. Or maybe I watched too much Dateline

We're the best frenemies ever!

Re: Chase APR% Reduction Promo

simplynoir — Thu, 10 Oct 2019 02:37:24 GMT

@Remedios wrote:
Nah, they are probably hoping I do cash advance on this one now

I've been with Chase for so long, it's like we've been married for 70 years and the only reason I did not poison them yet is because I know I'm only staying alive to spite them. Or maybe I watched too much Dateline

We're the best frenemies ever!

Chase Fraud Team yo 😐

Re: Chase APR% Reduction Promo

FinStar — Thu, 10 Oct 2019 02:40:45 GMT

@Remedios wrote:
@SoCalifornia wrote:
@Remedios wrote:
😐

Nah, they are probably hoping I do cash advance on this one now

I've been with Chase for so long, it's like we've been married for 70 years and the only reason I did not poison them yet is because I know I'm only staying alive to spite them. Or maybe I watched too much Dateline

We're the best frenemies ever!

I'm only a Western Union transfer away... I'll be ready

Re: Chase APR% Reduction Promo

NRB525 — Thu, 10 Oct 2019 02:41:22 GMT

In the last two weeks I've added two items to AMEX card Plan It amounts, $1,368 at an effective 7.9% APR for three payments, the other as $2,682 for 8.8% APR for three payments. And any other charges on those cards don't incur interest/fee costs.

It's not the same as the "all in promotional APR" that cards may send, but has better flexibility when an actual large charge turns up that you want to amortize, particularly one that generates rewards points.

Re: Chase APR% Reduction Promo

Remedios — Thu, 10 Oct 2019 02:45:27 GMT

@FinStar wrote:
@Remedios wrote:
@SoCalifornia wrote:
@Remedios wrote:
😐

Nah, they are probably hoping I do cash advance on this one now

I've been with Chase for so long, it's like we've been married for 70 years and the only reason I did not poison them yet is because I know I'm only staying alive to spite them. Or maybe I watched too much Dateline

We're the best frenemies ever!
I'm only a Western Union transfer away... I'll be ready

First you bring Wonder Woman into this, then you minimize my pain and suffering. We cannot be friends

Re: Chase APR% Reduction Promo

CreditCuriosity — Thu, 10 Oct 2019 03:06:54 GMT

@SoCalifornia BTW wasn't trying to take anything away from you btw with your offer as that certainly isnt a bad APR for a CC if one needs to carry a balance. Kudos to you for a good apr relative to your cards. As stated by @FinStar it will go back to the regular apr after the period. Also as mentioned customers can't initiate and APR reduction. I think I had my card 5 years before they offered my a permanent one without me asking and several others got it in the same time frame as well. Just keep building your profile and depending on tons of factors APRs from existing lenders will decline or go up based on various factor and new lenders will certainly give you apr's that are lower in the future. Credit with various lenders is unique to each lender and what they are willing to do or not do.

Re: Chase APR% Reduction Promo

SoCalifornia — Thu, 10 Oct 2019 03:17:09 GMT

@CreditCuriosity wrote:
@SoCalifornia BTW wasn't trying to take anything away from you btw with your offer as that certainly isnt a bad APR for a CC if one needs to carry a balance. Kudos to you for a good apr relative to your cards. As stated by @FinStar it will go back to the regular apr after the period. Also as mentioned customers can't initiate and APR reduction. I think I had my card 5 years before they offered my a permanent one without me asking and several others got it in the same time frame as well. Just keep building your profile and depending on tons of factors APRs from existing lenders will decline or go up based on various factor and new lenders will certainly give you apr's that are lower in the future. Credit with various lenders is unique to each lender and what they are willing to do or not do.

Nah, no worries. I'm far enough long in my journey to know that it's all relative. I wouldn't have asked if I felt ashamed in any way. Loyalty and time yield better rewards, plain and simple.