topic Re: Capital One Automatically Lowered my APR!! in Credit Cards

Capital One Automatically Lowered my APR!!

tracynva — Tue, 19 Jan 2010 23:56:14 GMT

My January statement included the following love note from Capital One:

Good News: Because of your on-time payment history, some or all of your Annual Percentage Rates

(APRs) have been returned to your Non-Introductory Rate.

My purchase APR went from 23.15% to 7.79% AND they lowered the APR on my prior balance transfer from 23.15% to 3.99%. This was after 12 months of on-time payments.

...and I didn't even have to ask!

Re: Capital One Automatically Lowered my APR!!

Anonymous — Wed, 20 Jan 2010 00:17:28 GMT

Wow! And Congrats!

Re: Capital One Automatically Lowered my APR!!

MarineVietVet — Wed, 20 Jan 2010 03:43:00 GMT

Great news!!! That doesn't seem to happen very often.

Re: Capital One Automatically Lowered my APR!!

Anonymous — Wed, 20 Jan 2010 03:53:00 GMT

Very nice! Congratulations!

Re: Capital One Automatically Lowered my APR!!

score_building — Wed, 20 Jan 2010 04:09:52 GMT

that's a nice decrease, congrats!

Re: Capital One Automatically Lowered my APR!!

Anonymous — Wed, 20 Jan 2010 06:39:31 GMT

@tracynva wrote:
My January statement included the following love note from Capital One:

Good News: Because of your on-time payment history, some or all of your Annual Percentage Rates
(APRs) have been returned to your Non-Introductory Rate.

My purchase APR went from 23.15% to 7.79% AND they lowered the APR on my prior balance transfer from 23.15% to 3.99%. This was after 12 months of on-time payments.

...and I didn't even have to ask!

Hi and congrads. I posted about this happening to me about a month ago. Lowered mine 12.90% from 23.15%. I just cant get them to give me a cli.

Re: Capital One Automatically Lowered my APR!!

DI — Wed, 20 Jan 2010 11:23:14 GMT

Congratulations. Capital One is becoming the newest Credit Union in a sense. They're very competitive.

Re: Capital One Automatically Lowered my APR!!

score_building — Wed, 20 Jan 2010 12:33:58 GMT

@DI wrote:
Congratulations. Capital One is becoming the newest Credit Union in a sense. They're very competitive.

Re: Capital One Automatically Lowered my APR!!

Gibran — Wed, 20 Jan 2010 12:48:52 GMT

Congrats!!

Re: Capital One Automatically Lowered my APR!!

Anonymous — Wed, 20 Jan 2010 15:24:08 GMT

@DI wrote:
Congratulations. Capital One is becoming the newest Credit Union in a sense. They're very competitive.

NOT!

I can't recall the last time I saw a post decrying a CU for CC that was stuck perpetually at a low CL by design or pulling three hard INQ's for an app as a matter of policy.

Re: Capital One Automatically Lowered my APR!!

Anonymous — Wed, 20 Jan 2010 15:29:13 GMT

@DI wrote:
Congratulations. Capital One is becoming the newest Credit Union in a sense. They're very competitive.

Not sure I would agree with that statement unless you are referring to possible lower APR rates. My CL has not moved from $500 since 2005. In a competitive environment, companies would entice good paying customers rewarding with perks and/or limit increases. Not "you need to apply for another card if you want to see about possibly being approved for another card with a higher limit."

Re: Capital One Automatically Lowered my APR!!

Kiwill — Wed, 20 Jan 2010 15:30:30 GMT

Congrats!!!

I wish they were as generous with CLI's! I've only been given one increase since opening my account in 2007, they keep saying no to me and i've never gone over the limit and pay as soon as or before the statement drop. When my score reach the 700 club by the end of the year, I might see about asking for an upgraded card.

Re: Capital One Automatically Lowered my APR!!

bakalao2k — Wed, 20 Jan 2010 15:49:20 GMT

Congrats with the lower APR. ** jealous ** :-)

Re: Capital One Automatically Lowered my APR!!

DI — Wed, 20 Jan 2010 15:55:49 GMT

When one pays in full monthly the APR is always 0%. The APR in my book has been at 0% ever since 2004.

Re: Capital One Automatically Lowered my APR!!

score_building — Wed, 20 Jan 2010 16:19:47 GMT

DI wrote:
When one pays in full monthly the APR is always 0%. The APR in my book has been at 0% ever since 2004.

Hmmm, has siting this fact at every turn become a bit trite with overuse?

Re: Capital One Automatically Lowered my APR!!

Anonymous — Wed, 20 Jan 2010 18:06:46 GMT

@score_building wrote:
@DI wrote:
When one pays in full monthly the APR is always 0%. The APR in my book has been at 0% ever since 2004.
Hmmm, has siting this fact at every turn become a bit trite with overuse?

Re: Capital One Automatically Lowered my APR!!

DI — Wed, 20 Jan 2010 18:17:58 GMT

@Anonymous wrote:
@score_building wrote:
@DI wrote:
When one pays in full monthly the APR is always 0%. The APR in my book has been at 0% ever since 2004.
Hmmm, has siting this fact at every turn become a bit trite with overuse?

+1

LOL Sometimes things are just worth repeating.

Message Edited by DI on 01-20-2010 12:17 PM

Re: Capital One Automatically Lowered my APR!!

DI — Thu, 21 Jan 2010 02:32:38 GMT

I enjoy receving Capital One's purchase checks in the mail. I use them as a tool and still not pay any interest.

Re: Capital One Automatically Lowered my APR!!

haulingthescoreup — Thu, 21 Jan 2010 02:48:44 GMT

Folks, folks, folks.

Those who are not caught up in the Cap One vs Crap One war are sick and tired of reading this stuff.

You guys are NOT going to convince one another of the superiority of your arguments, so it's time to hush. Seriously. Use or don't use a Cap One card, and spare the rest of us the endless (and utterly pointless) wrangling. We don't care any more!

Like any other CC, there is NO interest on a card if you pay your balance off every month. IMO, the arguing points for and against any given CC come down to rewards, fees, inqs or lack thereof, and customer service.

As always, YOUR MILEAGE MAY VARY!!! What works for one doesn't work for another. That doesn't make a card good or bad; it just means that it works for some and not others.

For Pete's sake, give it a rest!!!

* goes to see if we have any Tums *

Re: Capital One Automatically Lowered my APR!!

Itsmeagain — Thu, 21 Jan 2010 12:31:35 GMT

+1000