topic Re: Capital One...LOWERED my interest rate? in Credit Cards

Capital One...LOWERED my interest rate?

CreditCrusader — Tue, 29 May 2012 00:21:20 GMT

In my case, that's a big fat YES!

My interest rate (standard Cap1 Platinum steps card) has always been 22.9%. I checked my statement dated 5/27 and they have lowered it to 16.9%. I didn't even know they could count that low for a rebuilder card!

I would ask why, but I really don't care at this point. They have both increased my CL and lowered my interest during the past year...oh, and they credit my AF like clockwork. Sure, I use the h*ll out of that card, but I feel it's good form on their part nevertheless

Edited to include:

OK, so I have to push them a little to credit the AF

Re: Capital One...LOWERED my interest rate?

LS2982 — Tue, 29 May 2012 00:29:27 GMT

@CreditCrusader wrote:
In my case, that's a big fat YES!

My interest rate (standard Cap1 Platinum steps card) has always been 22.9%. I checked my statement dated 5/27 and they have lowered it to 16.9%. I didn't even know they could count that low for a rebuilder card!

I would ask why, but I really don't care at this point. They have both increased my CL and lowered my interest during the past year...oh, and they credit my AF like clockwork. Sure, I use the h*ll out of that card, but I feel it's good form on their part nevertheless

Edited to include:

OK, so I have to push them a little to credit the AF

Thats incouraging news for Cap1 cardholders!

Re: Capital One...LOWERED my interest rate?

pizzadude — Tue, 29 May 2012 00:30:47 GMT

@CreditCrusader wrote:
In my case, that's a big fat YES!

My interest rate (standard Cap1 Platinum steps card) has always been 22.9%. I checked my statement dated 5/27 and they have lowered it to 16.9%. I didn't even know they could count that low for a rebuilder card!

I would ask why, but I really don't care at this point. They have both increased my CL and lowered my interest during the past year...oh, and they credit my AF like clockwork. Sure, I use the h*ll out of that card, but I feel it's good form on their part nevertheless

Edited to include:

OK, so I have to push them a little to credit the AF

Congrats ! I think Cap1 throws a bone to a few lucky people every so often, so it looks like you're a winner !! What is your CL on the card now and how much have they increased it ?

Re: Capital One...LOWERED my interest rate?

CreditChampion — Tue, 29 May 2012 00:48:48 GMT

How long have you had the card?

Re: Capital One...LOWERED my interest rate?

Anonymous — Tue, 29 May 2012 01:36:44 GMT

Congrats! I hope to see the same success with them closer to my 1 yr mark

Re: Capital One...LOWERED my interest rate?

remarc — Tue, 29 May 2012 03:24:52 GMT

I think if you check your letter and I could be wrong but they are offering to lower your APR for 6 months and then it will return back to normal. They offered me this when I called them most recently..

Not much of an offer if you ask me.

If you did get a permanent lower APR.. Very much congrats

Re: Capital One...LOWERED my interest rate?

Anonymous — Tue, 29 May 2012 05:52:49 GMT

I actually would be really interested if what remarc said turns out to be accurate. I would not put it past Cap1, but as has been stated already, they do occasionally throw out bones... I guess there are some people at Cap1 that actually know and do their jobs?

Re: Capital One...LOWERED my interest rate?

CreditCrusader — Tue, 29 May 2012 14:02:30 GMT

@pizzadude wrote:
@CreditCrusader wrote:
In my case, that's a big fat YES!

My interest rate (standard Cap1 Platinum steps card) has always been 22.9%. I checked my statement dated 5/27 and they have lowered it to 16.9%. I didn't even know they could count that low for a rebuilder card!

I would ask why, but I really don't care at this point. They have both increased my CL and lowered my interest during the past year...oh, and they credit my AF like clockwork. Sure, I use the h*ll out of that card, but I feel it's good form on their part nevertheless

Edited to include:

OK, so I have to push them a little to credit the AF

Congrats ! I think Cap1 throws a bone to a few lucky people every so often, so it looks like you're a winner !! What is your CL on the card now and how much have they increased it ?

CL is now $1,500...began at $500, stepped to $750.

To the others, I have had the card for coming up on 2 years now. With regards to the APR being temp, I called both their CSR and backdoor reps...both have verified that it will be the interest rate moving forward...nothing temp about it.

Of course, they can always bump it up down the road if they want to...all card issuers can. In the meantime, I'll enjoy this for what it is...an unexpected blessing