topic Re: Temporary APR and additional rewards with Discover in Credit Cards

Temporary APR and additional rewards with Discover

Anonymous — Thu, 30 Sep 2010 09:23:05 GMT

Has anyone got this offer?

Confidential Message for Addressee Only

From Discover Card Customer Service

Dear bunnyrabbit,

Thank you for your continued loyalty as a Discover(R) Cardmember. We are pleased to confirm your promotional Annual Percentage Rate (APR) of 3.90% on all new purchases made from 10/10/10 through 04/12/11. This promotional APR will apply until the last day of your billing period ending during May, 2011 then the standard APR for purchases will apply, currently 16.99%.*

I got this offer because I called Discover and asked questions ...

Q: What should I do to get lower APR? *currently 16.99%

Plus, they gave me an additional rewards on up to 60 purchases in next 3 months.

Q: How often Discover offers auto CLI?

A: It depend on the usage amount. When they see the customer is charging on his/her cc getting close to their CL, then, they will give an auto CLI to not max out or exceed the limit.

Re: Temporary APR and additional rewards with Discover

Anonymous — Thu, 30 Sep 2010 12:34:26 GMT

Congrats! Let's see if usage will make a difference. In the past 3 months I've been almost maxing out my Discover every month and actually sometimes I would make a payment and start charging on it all over again.

Now if they don't give me an auto CLI on my card's anniversary the next strategy would be to SD it!

Re: Temporary APR and additional rewards with Discover

Anonymous — Thu, 30 Sep 2010 22:07:31 GMT

ferrari, how long do you own your Discover card? They have not give you any auto CLI yet? Let us know the result.

Re: Temporary APR and additional rewards with Discover

Anonymous — Thu, 30 Sep 2010 22:12:43 GMT

I have had it since Nov of last year. It's a Discover More student card. No auto CLIs at 3 months or 6 months. I called like a couple of months ago and requested a CLI. a HP for a measly $350. In Nov it will turn 1 yr old and if they don't auto CLI me, I am using it once every 6 months to buy a coke or something!

Re: Temporary APR and additional rewards with Discover

Anonymous — Thu, 30 Sep 2010 22:22:21 GMT

I have no idea about how they decide to give an auto CLI to which card member. It will be nice if they give an auto CLI (at least of $500) to all of their loyal customer who keeps their credit in outstanding status.

Re: Temporary APR and additional rewards with Discover

score_building — Fri, 01 Oct 2010 14:58:40 GMT

I got a similar offer when I called in, 1.99 for 6 months.

bunnyrabbit- Discover handles APRD a little differently than most of my other creditors, call back and ask them to send you an APRD request form, then you mail it back to them.

Re: Temporary APR and additional rewards with Discover

Anonymous — Sat, 02 Oct 2010 10:39:29 GMT

@score_building wrote:
I got a similar offer when I called in, 1.99 for 6 months.

bunnyrabbit- Discover handles APRD a little differently than most of my other creditors, call back and ask them to send you an APRD request form, then you mail it back to them.
How does it works? Have you done this before? How much your APR changed?

Re: Temporary APR and additional rewards with Discover

score_building — Sat, 02 Oct 2010 11:03:59 GMT

@Anonymous wrote:
@score_building wrote:
I got a similar offer when I called in, 1.99 for 6 months.

bunnyrabbit- Discover handles APRD a little differently than most of my other creditors, call back and ask them to send you an APRD request form, then you mail it back to them.
How does it works? Have you done this before? How much your APR changed?

Just called and said would like to know if acct eligible for a lower rate, that's when she responded with a 1.99 for six month offer. I then mentioned to the csr that I was interested in a decrease in the regular APR (currently 14.24) she said sorry it wasn't available but she could send me an APRD form which at the time I found somewhat odd but I sent it in and they did decrease the regular apr to 12.24.

Obviously still not suitable to carry balances but prefer a lower rate when available and receiving a decrease often requires so little effort.

Discover is the only issuer that has reduced my rate only after filling out a form sent by postal mail. Certain requirements were listed on the form, like having the acct for at least one year IIRC, but pretty basic stuff... just get the form, send it back in and please report back on the response you receive, with your scores they'd be tripping to say no!

Re: Temporary APR and additional rewards with Discover

Anonymous — Sun, 03 Oct 2010 07:47:40 GMT

Thanks score. Let me call them.

By the way, do you remember how long it took to get reduced APR?

Re: Temporary APR and additional rewards with Discover

score_building — Sun, 03 Oct 2010 10:14:02 GMT

@Anonymous wrote:
Thanks score. Let me call them.
By the way, do you remember how long it took to get reduced APR?

It took just about 1-2 weeks

Re: Temporary APR and additional rewards with Discover

Anonymous — Mon, 04 Oct 2010 18:34:59 GMT

@score_building wrote:

@Anonymous wrote:
Thanks score. Let me call them.
By the way, do you remember how long it took to get reduced APR?
It took just about 1-2 weeks

Hi score_, I just got off from the phone with them.

First rep (she) transferred me to the appropriate department when I told her about APRD on my purchase. Then second rep (he), after I told him what I am looking for, he said it is only available at 14.99% at this moment. * It's just like in your case ... 2% decrease. * I took it!! It will begin wit next billiing cycle. They gave me this 2% APRD over the phone right away, I don't even need to fill out the form and wait for their decision. I wish I new about this kind of request. I will call them ... may be six month later ... and request this APRD again. You know what ... I will do the same to my other ccs to see what they say and gives me. Wish me luck!

Re: Temporary APR and additional rewards with Discover

llecs — Mon, 04 Oct 2010 18:45:45 GMT

If you want another decrease on the APR, they are or were offering a decrease of 1% if you consent to them debiting the minimum out of your bank account each due date. I never cared about APR, but I was looking for an autodraft anyway when they called out of the blue. I accepted it and the APR decreased.

Re: Temporary APR and additional rewards with Discover

score_building — Mon, 04 Oct 2010 18:53:13 GMT

@llecs wrote:
If you want another decrease on the APR, they are or were offering a decrease of 1% if you consent to them debiting the minimum out of your bank account each due date. I never cared about APR, but I was looking for an autodraft anyway when they called out of the blue. I accepted it and the APR decreased.

Good going bunnyrabbit, glad to hear there was a lower apr available on your acct. w/o filling out a form.

llecs-do you know if Discover will skip the autodraft min pay

if at least the min payment has already been made prior to due date?

Re: Temporary APR and additional rewards with Discover

llecs — Mon, 04 Oct 2010 19:29:39 GMT

@score_building wrote:

llecs-do you know if Discover will skip the autodraft min pay

if at least the min payment has already been made prior to due date?

I don't know. I'm very new to this (4 or so months in, with a couple of those at $0, so no payment due) and I typically pay every Monday for every CC that is due that week out of habit. It just so happens lately that my due date was around that Monday. Twice I tried to pay the CC around the due date to get the balance to where I want it and it wouldn't let me pay. However, it would let me pay the following day. There was one instance where I tried to PIF before the due date and it wouldn't let me because of the min. payment, but was able to pay the balance minus the minimum that day.

Re: Temporary APR and additional rewards with Discover

MarineVietVet — Mon, 04 Oct 2010 19:33:58 GMT

@llecs wrote:

I don't know. I'm very new to this (4 or so months in, with a couple of those at $0, so no payment due) and I typically pay every Monday for every CC that is due that week out of habit. It just so happens lately that my due date was around that Monday. Twice I tried to pay the CC around the due date to get the balance to where I want it and it wouldn't let me pay. However, it would let me pay the following day. There was one instance where I tried to PIF before the due date and it wouldn't let me because of the min. payment, but was able to pay the balance minus the minimum that day.

I'm not sure if you're aware of this or not llecs but Discover will only let you pay every three days and this gets some people in trouble if they can't make a payment to get their balance where they want it right before the statement date.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

Re: Temporary APR and additional rewards with Discover

llecs — Mon, 04 Oct 2010 19:42:08 GMT

@MarineVietVet wrote:

@llecs wrote:

I don't know. I'm very new to this (4 or so months in, with a couple of those at $0, so no payment due) and I typically pay every Monday for every CC that is due that week out of habit. It just so happens lately that my due date was around that Monday. Twice I tried to pay the CC around the due date to get the balance to where I want it and it wouldn't let me pay. However, it would let me pay the following day. There was one instance where I tried to PIF before the due date and it wouldn't let me because of the min. payment, but was able to pay the balance minus the minimum that day.

I'm not sure if you're aware of this or not llecs but Discover will only let you pay every three days and this gets some people in trouble if they can't make a payment to get their balance where they want it right before the statement date.

I did not know that. I'll often shelve our cards leading up to the due date to avoid those last minute charges.

Re: Temporary APR and additional rewards with Discover

MarineVietVet — Mon, 04 Oct 2010 19:48:30 GMT

@llecs wrote:

I did not know that. I'll often shelve our cards leading up to the due date to avoid those last minute charges.

WHAT!!!??? I knew something llecs didn't know????

Call the papers!!!

Shout it from the rooftops!!!

Pass the word to everyone you know!!!

Re: Temporary APR and additional rewards with Discover

llecs — Mon, 04 Oct 2010 20:06:08 GMT

LOL!

Re: Temporary APR and additional rewards with Discover

Anonymous — Mon, 04 Oct 2010 22:11:43 GMT

@score_building wrote:
@llecs wrote:
If you want another decrease on the APR, they are or were offering a decrease of 1% if you consent to them debiting the minimum out of your bank account each due date. I never cared about APR, but I was looking for an autodraft anyway when they called out of the blue. I accepted it and the APR decreased.
Good going bunnyrabbit, glad to hear there was a lower apr available on your acct. w/o filling out a form.

llecs-do you know if Discover will skip the autodraft min pay

if at least the min payment has already been made prior to due date?

Thanks score_. Also I did contact Chase about my two Freedom cc, and they told me they do not have any thing offer at this moment but they are looking into to send the letter out about APR decrease in around February 2011. My purchase APR on those Chase Freedom has increased to about double (to 15.24 % on MC and 13.24 % on VISA) last year around this time due to the bad economy. Well, wait to see how Chase takes care of their good customers.

llecs, so do I. Because I always PIF the balance before the due date.

Thanks for the tip! That will be nice if I ever needs to carry the balance over. But I uses two different bank accts to pay my ccs it depends on the acct's balance, so this does not work for me.

Re: Temporary APR and additional rewards with Discover

Anonymous — Mon, 04 Oct 2010 22:19:43 GMT

@MarineVietVet wrote:

WHAT!!!??? I knew something llecs didn't know????

Call the papers!!!
Shout it from the rooftops!!!
Pass the word to everyone you know!!!

Oh, marine vet, you are having so much fun ... )