topic Re: Discover it lower APR request Approved in Credit Cards

Discover it lower APR request Approved

mnavas — Wed, 14 May 2014 03:09:09 GMT

I requested Discover through their online chat to get down my APR which was sitting at 14.99. After a few security questions they were able to approve my request and lower it for 4.75%. My new APR rate for purchases will be 10.24 %. I was told this will be reflected in my next billing period which starts in Jun 02. This will make Discover my second lowest APR card. Does anyone know whats the lowest APR you can get with Discover?

UPDATE:

This is the letter from Discover i got in the mail today, informing me about my interest reduction

Re: Discover it lower APR request Approved

azguy13 — Sun, 11 May 2014 03:45:12 GMT

Congrats on your lower APR.

Unfortunately, I do not know what Discover's lowest APR is.

Re: Discover it lower APR request Approved

mongstradamus — Sun, 11 May 2014 03:49:56 GMT

@azguy13 wrote:
Congrats on your lower APR.

Unfortunately, I do not know what Discover's lowest APR is.

Gratz I was able for them to reduce mine ,but not as low as yours. Got it reduces from 22.99 to 18.24% there really must be something about my account discover doesn't like.

Re: Discover it lower APR request Approved

mnavas — Sun, 11 May 2014 03:58:12 GMT

@mongstradamus wrote:
@azguy13 wrote:
Congrats on your lower APR.

Unfortunately, I do not know what Discover's lowest APR is.
Gratz I was able for them to reduce mine ,but not as low as yours. Got it reduces from 22.99 to 18.24% there really must be something about my account discover doesn't like.

Thanks! Im sure they'll be able to lower yours a bit more in the future (as long as your account is in good standing)

One thing im noticing is that they also lower yours for 4.75. It might be a coincidence or its just the way Discover does this.

Re: Discover it lower APR request Approved

Kenny — Sun, 11 May 2014 04:01:16 GMT

I thought the lowest with Discover was 10.99, but that's obviously not correct as your APR is lower than that.

Re: Discover it lower APR request Approved

mongstradamus — Sun, 11 May 2014 04:01:53 GMT

@mnavas wrote:
@mongstradamus wrote:
@azguy13 wrote:
Congrats on your lower APR.

Unfortunately, I do not know what Discover's lowest APR is.
Gratz I was able for them to reduce mine ,but not as low as yours. Got it reduces from 22.99 to 18.24% there really must be something about my account discover doesn't like.
Thanks! Im sure they'll be able to lower yours a bit more in the future (as long as your account is in good standing)

One thing im noticing is that they also lower yours for 4.75. It might be a coincidence or its just the way Discover does this.

That interesting I may try again in few months.its not that big of a deal since I always PIF. With discover I am still trying to give me sp CLI. I kind of was stupid when I applied for discover,I really wasn't in an position to be applying for cards,now I think my credit is an lot cleaner.

Re: Discover it lower APR request Approved

mnavas — Sun, 11 May 2014 04:09:55 GMT

@mongstradamus wrote:
@mnavas wrote:
@mongstradamus wrote:
@azguy13 wrote:
Congrats on your lower APR.

Unfortunately, I do not know what Discover's lowest APR is.
Gratz I was able for them to reduce mine ,but not as low as yours. Got it reduces from 22.99 to 18.24% there really must be something about my account discover doesn't like.
Thanks! Im sure they'll be able to lower yours a bit more in the future (as long as your account is in good standing)

One thing im noticing is that they also lower yours for 4.75. It might be a coincidence or its just the way Discover does this.
That interesting I may try again in few months.its not that big of a deal since I always PIF. With discover I am still trying to give me sp CLI. I kind of was stupid when I applied for discover,I really wasn't in an position to be applying for cards,now I think my credit is an lot cleaner.

Yeah same here i always PIF but it feels nice to kind of be rewarded with a lower APR... and yes try again in a few months. Discover is a great company. Im sure they will reward you with CLIs and get down your APR in the near future (if you keep your overall credit and your Discover acc in good standing)

Re: Discover it lower APR request Approved

lg8302ch — Sun, 11 May 2014 07:00:11 GMT

@KennyRS wrote:
I thought the lowest with Discover was 10.99, but that's obviously not correct as your APR is lower than that.

Me too... but congrats OP that is awesome ....I am looking forward to my next request at the 2 year mark..lol

Re: Discover it lower APR request Approved

Anonymous — Sun, 11 May 2014 16:56:14 GMT

I tried the chat after reading this and they lowered mine from 19.99 to 16.24

Re: Discover it lower APR request Approved

gdale6 — Sun, 11 May 2014 17:07:55 GMT

@KennyRS wrote:
I thought the lowest with Discover was 10.99, but that's obviously not correct as your APR is lower than that.

There appears to be confusion here. The OP does not have an interest rate of 4.75% the OPs rate was LOWERED by 4.75%. The lowest rate I have seen on multi forums other than a special deal is 9.99%

Re: Discover it lower APR request Approved

Anonymous — Sun, 11 May 2014 17:11:21 GMT

Congrats! Jealous...

Re: Discover it lower APR request Approved

TrueGeminiNC — Sun, 11 May 2014 18:51:13 GMT

@mongstradamus wrote:
@azguy13 wrote:
Congrats on your lower APR.

Unfortunately, I do not know what Discover's lowest APR is.
Gratz I was able for them to reduce mine ,but not as low as yours. Got it reduces from 22.99 to 18.24% there really must be something about my account discover doesn't like.

I just got Discover to lower my rate from 24.99 to 22.24% (Prime Rate + 18.99). Notably, I have been paying my balance in full every since the 0% promo rate expired. My FICO score on my most recent billing statement is 696.

Re: Discover it lower APR request Approved

parakleet — Sun, 11 May 2014 19:27:57 GMT

Just used the chat function to request a lower apr - went from 18.99 to 15.24. Not great but better than nothing. I asked when I would be next eligible for a lower apr and the rep said that I could ask for a "review" of my account "as often as every 12 months!" lol. I've had the card for a year now so I guess I was ripe for a review. But the process was super quick and easy - took probably less than 2 minutes. I absolutely love the shopdiscover feature so I will definitely be keeping the card. FYI - I also went from $5.5k to $8.5k CL in the past year - all SPs.

Re: Discover it lower APR request Approved

gh17 — Sun, 11 May 2014 19:36:42 GMT

@gdale6 wrote:
@KennyRS wrote:
I thought the lowest with Discover was 10.99, but that's obviously not correct as your APR is lower than that.
There appears to be confusion here. The OP does not have an interest rate of 4.75% the OPs rate was LOWERED by 4.75%. The lowest rate I have seen on multi forums other than a special deal is 9.99%

I don't think there's any confusion - OP has a rate of 10.24%.

Re: Discover it lower APR request Approved

gh17 — Sun, 11 May 2014 19:39:10 GMT

@gdale6 wrote:
@KennyRS wrote:
I thought the lowest with Discover was 10.99, but that's obviously not correct as your APR is lower than that.
There appears to be confusion here. The OP does not have an interest rate of 4.75% the OPs rate was LOWERED by 4.75%. The lowest rate I have seen on multi forums other than a special deal is 9.99%

Anyway, I know there are a few credit unions near me that have 8.99% rates, and I've read of others with lower. Not a big deal for me as I'm not carrying a balance. Although if rates started to break 6.55% (extremely unlikely) I might start getting interested, as that's my student loan rate (although even then, a credit card's going to be variable, not fixed).

But it's interesting to know Discover will lower rates if you ask.

Re: Discover it lower APR request Approved

-Wade- — Sun, 11 May 2014 21:37:44 GMT

I just did an online chat with Discover and they lower mine also from 10.99% to 10.24% ( I could not get them to go any lower ) . Thank you OP

Re: Discover it lower APR request Approved

-Wade- — Sun, 11 May 2014 21:42:36 GMT

@KennyRS wrote:
I thought the lowest with Discover was 10.99, but that's obviously not correct as your APR is lower than that.

I remember a while back a myFico member got his to 9. something %

Re: Discover it lower APR request Approved

mnavas — Sun, 11 May 2014 23:35:16 GMT

@gh17 wrote:
@gdale6 wrote:
@KennyRS wrote:
I thought the lowest with Discover was 10.99, but that's obviously not correct as your APR is lower than that.
There appears to be confusion here. The OP does not have an interest rate of 4.75% the OPs rate was LOWERED by 4.75%. The lowest rate I have seen on multi forums other than a special deal is 9.99%
I don't think there's any confusion - OP has a rate of 10.24%.

Yes As of June 02 my new APR for purchases will be 10.24 %.

I suggest anyone who owns a Discover card to use the online chat and ask for an APR reduction. Its an easy process and a great feeling...

Re: Discover it lower APR request Approved

maiden_girl — Mon, 12 May 2014 04:51:51 GMT

The lowest APR I've seen from Discover is 9.99%

Re: Discover it lower APR request Approved

scottwagnon — Mon, 12 May 2014 05:39:16 GMT

@azguy13 wrote:
Congrats on your lower APR.

Unfortunately, I do not know what Discover's lowest APR is.

the last time i checked, the lowest standard non grandfathered purchase apr is 6.74 + prime (i have this btw). perhaps it is now 6.99 + prime