topic Re: Reduction in APR on BoA Cash Rewards in Credit Cards

Reduction in APR on BoA Cash Rewards

lithium78 — Tue, 28 May 2013 17:01:44 GMT

BoA just reduced my APR on my BoA 123 Cash Rewards Visa from 20.9% to 9.9%, which is the lowest they offer. I just want to tell everybody starting out on their credit recovery journey that you can do it too. Keep the faith.

Re: Reduction in APR on BoA Cash Rewards

SRAGS — Tue, 28 May 2013 17:19:24 GMT

Oh good, Congrats. when I asked for increase few days back.. I forgot to ask abt Apr. . Its been a month. I got an increase from 2500 to 10,000. Even I forgot with other cards as well... if it is under the month , can I ask now? I don't want to pull another hp . Thanks...

Re: Reduction in APR on BoA Cash Rewards

Anonymous — Tue, 28 May 2013 17:30:46 GMT

I also was able to negotiate for a lower APR. I don't believe it requires any sort of hard credit inquiry. Good luck!

Re: Reduction in APR on BoA Cash Rewards

2011beginnings — Tue, 28 May 2013 20:15:18 GMT

How did you get it that low?

I had mine at 20.99% and had to pull teeth to get it to 17.99%.

Was their a number you called or something? How long have you had your card?

Re: Reduction in APR on BoA Cash Rewards

Anonymous — Tue, 28 May 2013 20:56:54 GMT

What number did you call?

Re: Reduction in APR on BoA Cash Rewards

HiLine — Wed, 29 May 2013 04:36:46 GMT

That is awesome! Congrats!!!

Just so others can follow your example, how does your usage of the card look?

Re: Reduction in APR on BoA Cash Rewards

lithium78 — Thu, 30 May 2013 10:13:40 GMT

@Anonymous wrote:
What number did you call?

Anyone who wants the number to call to ask BoA for an APR reduction, please send me a PM. I can't post the phone number on the board.

Re: Reduction in APR on BoA Cash Rewards

knoregs — Thu, 30 May 2013 11:20:07 GMT

@lithium78 wrote:
BoA just reduced my APR on my BoA 123 Cash Rewards Visa from 20.9% to 9.9%

Congrats!

~kn

Re: Reduction in APR on BoA Cash Rewards

lg8302ch — Fri, 31 May 2013 07:01:56 GMT

thanks so much for that magic number! Just got the APR down to 9.99% on both my Travel Rewards Visa Signature and the Cash Rewards Visa Signature. This was a very nice experience with BofA once again. The rep could not do it himself but put me on hold and had his supervisor do it.

This board is simply great as I would have never thought about asking for a lower APR myself. Once the 0% APR period is over on my other cards I might continue this path and see how far I can get with my other cards. (match the BofA APR or their prime rate) I can confirm it was no HP. Love BofA !

Re: Reduction in APR on BoA Cash Rewards

2011beginnings — Fri, 31 May 2013 14:35:58 GMT

@lg how high was your APR before?

Re: Reduction in APR on BoA Cash Rewards

lithium78 — Fri, 31 May 2013 17:20:03 GMT

@lg8302ch wrote:
thanks so much for that magic number! Just got the APR down to 9.99% on both my Travel Rewards Visa Signature and the Cash Rewards Visa Signature. This was a very nice experience with BofA once again. The rep could not do it himself but put me on hold and had his supervisor do it.
This board is simply great as I would have never thought about asking for a lower APR myself. Once the 0% APR period is over on my other cards I might continue this path and see how far I can get with my other cards. (match the BofA APR or their prime rate) I can confirm it was no HP. Love BofA !

No problem! Glad I could help. :-)

Re: Reduction in APR on BoA Cash Rewards

lg8302ch — Fri, 31 May 2013 22:53:26 GMT

@2011beginnings wrote:
@Anonymous how high was your APR before?

12,99% and 14,24%

Re: Reduction in APR on BoA Cash Rewards

VinnyofLegend — Sat, 01 Jun 2013 17:21:34 GMT

Couldn't lower my Platinum Plus which is 10.24%, but they lowered my Travel Rewards (which I pay in full anyways) from 16.99 to 14.99. Still nice to have

Thanks lithium78!

Re: Reduction in APR on BoA Cash Rewards

laboi_22 — Sat, 01 Jun 2013 19:12:04 GMT

Can someone also PM that number please? Thanks!

Re: Reduction in APR on BoA Cash Rewards

linux007969 — Sat, 01 Jun 2013 20:12:42 GMT

just called that magic number and got my apr lowered from 20.24% to 17.99% awesomeness!!!!

it's even lower than what my discover will be after my zero interest expires which will be 19.99% but i will see about getting that lowered as well when the promo expires.

even though i will still most likely pay in full each month it's nice to see that i can qualify for a lower rate becasue i'm credit worthy!

thanks so much!

Re: Reduction in APR on BoA Cash Rewards

lg8302ch — Sat, 01 Jun 2013 20:36:02 GMT

@laboi_22 wrote:
Can someone also PM that number please? Thanks!

PM sent - Good luck

Re: Reduction in APR on BoA Cash Rewards

linux007969 — Sat, 01 Jun 2013 21:13:54 GMT

also the weird thing is when i called it rang and went directly to the rep, with out the usual "Thank you for calling Card Services, you call will be monitored and recorded, please wait for the next available credit analyst....."

also whats even weirder is that after the guy pulled up my account he asked me if i was calling to activate a new card? So is that the number for activations or what? My current cash rewards card i called about doesnt run out till 2015 so why would he ask me that? Maybe i should have asked what department he was in. Every number i call for my accounts they always answer as Card Services so there's no real way to tell who i'm actually calling maybe i should ask sometimes when i call. LOL

Re: Reduction in APR on BoA Cash Rewards

lg8302ch — Sat, 01 Jun 2013 21:17:46 GMT

Because I am generally curious I did ask which department it was and was told by the rep it is called Retention department (credit cards)

Re: Reduction in APR on BoA Cash Rewards

linux007969 — Sat, 01 Jun 2013 21:25:00 GMT

@lg8302ch wrote:
Because I am generally curious I did ask which department it was and was told by the rep it is called Retention department (credit cards)

oh ok thanks for letting me know.

but i still wonder why he asked if i was activating a new card? Did anyone else get asked this?

Re: Reduction in APR on BoA Cash Rewards

Agent86 — Sat, 01 Jun 2013 21:35:04 GMT

I just called to ask for an APR reduction and got denied on the basis that my rate was already lower than average (13.24%), and my account shows too little activity. I have a $3200 balance on the card, all of which is at 0% due to a special balance transfer offer I used to finance a $9000 roof replacement last year, and I have been making steady payments of $600/month toward that balance. I have used the card for some small purchases since then, but have mostly used citi for everyday use (pay off in full each month). Representative advised that chances for apr reduction would be improved if I pay down the card to 0, make another big purchase, and pay down to 0 again.