topic Re: HOME DEPOT APR REDUCTION in Credit Cards

HOME DEPOT APR REDUCTION

Anonymous — Tue, 04 Aug 2009 15:12:24 GMT

They raised my rate to 24% so I went on a mission to get the balance low , and I requested a APR reduction as soon as I got my balance down to under $10.00 The response i got was " sorry we cant lower the APR because of economic trouble". I threatened to use Lowes instead. What is the best way to handle this request?

Re: HOME DEPOT APR REDUCTION

Woolfman — Tue, 04 Aug 2009 16:48:24 GMT

Chances are they dont care and wont budge. Best way to handle the situation is , If you use the card PIF . Otherwise sock drawer the card and Use another card.

Re: HOME DEPOT APR REDUCTION

Anonymous — Tue, 04 Aug 2009 17:11:01 GMT

I understand ... I figured with a 6.00 balance and damm near all of my CL untouched you would think they try to be more reasonable.

Its cool Im going over Lowes

Re: HOME DEPOT APR REDUCTION

Anonymous — Tue, 04 Aug 2009 18:51:29 GMT

@Anonymous wrote:
I understand ... I figured with a 6.00 balance and damm near all of my CL untouched you would think they try to be more reasonable.

Its cool Im going over Lowes

I'm with ya! In fact DH is at Lowe's at this very moment spending about 1500.00 (cash) while my HD card is at -0- balance and sock drawered. They can either gimme the dang GW or I'll spend my money at Lowe's!!

D-R

Re: HOME DEPOT APR REDUCTION

marty56 — Tue, 04 Aug 2009 19:14:22 GMT

Unless you get a 0% deal, the Lowe's card would probably have the same high interest rate. Best to PIF unless you can get a 0% deal.

Re: HOME DEPOT APR REDUCTION

Anonymous — Tue, 04 Aug 2009 19:36:31 GMT

Ohh I'm going for no wooden nickels here... I want all the goodies ...Im at a 745 and I want to be treated that way.....

Re: HOME DEPOT APR REDUCTION

Anonymous — Tue, 04 Aug 2009 19:45:38 GMT

Lowes is only offering 6 mos interest free standard APR is 22%

These cards are just screwing people left and right.... Home Depot

sock drawer status . --until Lowes has get a better offer im stuck but not payin those interest charges....

Re: HOME DEPOT APR REDUCTION

marty56 — Tue, 04 Aug 2009 20:43:48 GMT

IMHO if you revolve a balance these days you are just asking for AA regardless of your credit score.

Re: HOME DEPOT APR REDUCTION

GregB — Tue, 04 Aug 2009 20:55:16 GMT

I don't think there are any reasonable standard interest rates from either Lowe's or Home Depot. I have both business and personal accounts from both. They are all silly high.

They both offer extended terms regularly such as 0% 1 year. Having an account there to get the promos is the only reason to have the cards.

My Lowe's Commercial account shows 21% and it has been used for large business purchases and always PIFed. My other accounts for the same business are all under 8.5%. I checked with a customer that spends $10-40K per month at Lowe's and their statement shows 21% also.

Their goal seems to be to sell stuff not charge interest. Of course, if someone is silly enough to pay their extortionate rate, they won't argue.

Re: HOME DEPOT APR REDUCTION

Anonymous — Thu, 06 Aug 2009 15:17:12 GMT

Well PIF isnt always an option for everyone. In a perfect world we would all be able to keep zero balances on all cards at all times, however if you work have a home a job and or children you have a myriad of different responsibilties and juggling them all can get hectic so there may be a balance or two on a few different cards.....

With that being said my 6$balance is now 0 forever with Home Depot .....

Re: HOME DEPOT APR REDUCTION

Anonymous — Thu, 06 Aug 2009 15:27:05 GMT

what was the rate before? causee that new rate sounds typical for those types of accounts

Re: HOME DEPOT APR REDUCTION

Anonymous — Thu, 06 Aug 2009 15:54:40 GMT

It was 18% but that 18% didnt happen until the promo was over 0% for 6 months then as soon as Im at 18% a few months later they raise to 25.99%

Re: HOME DEPOT APR REDUCTION

Anonymous — Thu, 06 Aug 2009 16:05:38 GMT

My APR on my HD card is of no concern imo. Because the only time I'll ever carry a balance on the card is under the 6 months free financing. Any smaller purchase will go on one of my other cards.