topic Re: Chase lowered APR in Credit Cards

Chase lowered APR

ecxpa — Fri, 18 Apr 2014 00:21:40 GMT

Can't remember the exact numbers but got a letter from Chase lowering my APR on a Freedom card......what does this mean. Is it a good sign for a CLI or do they just want me to start using the card more?

Re: Chase lowered APR

grinlikechelsea — Fri, 18 Apr 2014 00:23:26 GMT

You're actually the second person I've ever heard of getting their APR reduced on a Chase card (Ron had his Sapphire APR reduced). I don't know if it means you're more likely to get a CLI, but Chase certainly likes you!

Re: Chase lowered APR

Shock — Fri, 18 Apr 2014 00:27:47 GMT

My mom got a lowered APR on her Freedom too. She barely uses her card.

And I just got a BT offer on my Amazon. They want to milk me..lol

Re: Chase lowered APR

grinlikechelsea — Fri, 18 Apr 2014 00:28:52 GMT

If Chase could lower my 22.9% APR on my Freedom, that would be great...

Re: Chase lowered APR

ecxpa — Fri, 18 Apr 2014 00:37:17 GMT

@grinlikechelsea wrote:
You're actually the second person I've ever heard of getting their APR reduced on a Chase card (Ron had his Sapphire APR reduced). I don't know if it means you're more likely to get a CLI, but Chase certainly likes you!

They are my friend that's for sure. Have 6 cards with them 2 Freedom 2.3K, Slate 3.5K, Sapphire 5K, Amazon Visa 3K, and IHG 12K. I'm afraid to ask for more but I plan to combine some of the CL and cancel some cards. Got the last 4 cards within the past year. I also have a HELOC with them.

Re: Chase lowered APR

coldnmn — Fri, 18 Apr 2014 00:44:12 GMT

Congrats! Thanks for sharing.

Re: Chase lowered APR

LisaJ — Fri, 18 Apr 2014 00:48:46 GMT

Mine was lowered, too. Not a lot, and it's still way higher than my other cards, but my Freedom was lowered by 2%...on a previous Providian/WAMU. I had been advised MANY times that this would never happen.

I'll take it- I only use them for the rotating categories and never carry a balance. Seems like this is a new and interesting development in the Chase scheme of things.

Re: Chase lowered APR

dilettante — Fri, 18 Apr 2014 03:00:21 GMT

@LisaJ wrote:
Mine was lowered, too. Not a lot, and it's still way higher than my other cards, but my Freedom was lowered by 2%...on a previous Providian/WAMU. I had been advised MANY times that this would never happen.

I'll take it- I only use them for the rotating categories and never carry a balance. Seems like this is a new and interesting development in the Chase scheme of things.

Yes, I think it's interesting that after almost 15 years of my Freedom card being at the original 24.24%, they finally lowered it this month to 17.24%.

Re: Chase lowered APR

OnTheRebound — Fri, 18 Apr 2014 04:00:46 GMT

They lowered my wife's Freedom (Providian/WAMU) APR from 29,24% to 23,24% in the last month or so.

It wouldn't bother me one bit if they raised it to to 100%. They never have and never will see one cent of interest froom me.

Re: Chase lowered APR

maiden_girl — Fri, 18 Apr 2014 04:03:03 GMT

I have paid interest once but it was on 100 bucks and ended up costing like 64 cents at 23.24 APR (odd number I know). It'd be nice if you had an unexpected event and needed to carry a balance for a moment. Low APR could be quite beneficial.

Re: Chase lowered APR

OnTheRebound — Fri, 18 Apr 2014 04:21:06 GMT

@maiden_girl wrote:
I have paid interest once but it was on 100 bucks and ended up costing like 64 cents at 23.24 APR (odd number I know). It'd be nice if you had an unexpected event and needed to carry a balance for a moment. Low APR could be quite beneficial.

I understand. In our case we have other sources to take care of emergencies, should they happen.

I just find it funny the timing of the APR reduction. It happened a few days after a large purchase ($4700.00) posted. It's like they are enticing me to carry a balace at what is still a ridiculous APR. Then again it may have just been a coincidence

Re: Chase lowered APR

lg8302ch — Fri, 18 Apr 2014 06:32:18 GMT

@grinlikechelsea wrote:
If Chase could lower my 22.9% APR on my Freedom, that would be great...

I am in for that too

Re: Chase lowered APR

mongstradamus — Fri, 18 Apr 2014 06:38:07 GMT

Thats interesting to note about Freedom apr reductions. I am just wondering how one would go about lowering apr. Right now mines at 0% till jan 2015. I think once January comes along its going to be 18.99% for me . Was hoping to find an way to get it around 12 or 13 % lol