topic Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99% in Credit Cards

Citi Diamond Preferred - Chat APR reduction

ticalc2014 — Sun, 29 Jun 2014 02:18:42 GMT

Just got through chatting with a very helpful representative from Citi. I requested an APR reduction (got 18.99% down to 16.99%). I also asked a few questions regarding how frequent such a request can be made (if any policy is in place), and was told that I could request further reductions at any time, and they will simply check if any better offers are available. I then inquired about product changes, and they promptly recommended the Dividend and Thank You lines based on my inquiry about standard cash back / rewards versus the Citi Easy Deals that the Diamond Preferred card has. Sadly, all PC requests must be completed over the phone (boo!) unlike my recent Discover experience. As far as CLI requests, I was told that they no longer have a policy as far as he knows, but it used to be 6 months between considerations after an approved CLI. So now I know to check back frequently regarding APR reductions, and that, depending on how my credit changes, there is no fixed time between CLI's as I just received my first increase from them at the start of the month.

On to Capital One next? Perhaps!

EDIT: Contacted Capital One, and the best they could do was 9.99% for 7 months, then back to my standard Prime + 10.65% (13.9%). As I have 0% for the next 14 months on another card(s), I declined.

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

SamsungHDTV — Sat, 28 Jun 2014 22:51:43 GMT

How do you use your citi card? PIF or carry balance? Just curious.

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

ticalc2014 — Sat, 28 Jun 2014 23:29:11 GMT

@SamsungHDTV wrote:
How do you use your citi card? PIF or carry balance? Just curious.

I had carried a balance for a while, but have now paid in full and will continue to attempt to do so. However, I've added my sister as an authorized user to help her build some credit history (if it even works), so depending on whether she has to use it or not, it may carry a balance occasionally. I'm just trying to get my APR's reduced for any future needs that may arise.

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

tinn — Sun, 29 Jun 2014 02:06:08 GMT

I just finished an online chat with Citi and I got my APR lowered on my Diamond Preferred from 17.99% to 15.99% !!!! This Forum is full of great information.

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

ticalc2014 — Sun, 29 Jun 2014 02:17:36 GMT

@tinn wrote:
I just finished an online chat with Citi and I got my APR lowered on my Diamond Preferred from 17.99% to 15.99% !!!! This Forum is full of great information.

Congratulations! I never would have known that it could be that easy to do without reading the forums here. Maybe in a few months we can knock another 2% off?

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

tinn — Sun, 29 Jun 2014 02:31:19 GMT

I'm sure going to try again in a few months .to see if I can get it even lower Thanks for sharing your experience with getting an APR reduction. It encouraged me to give it a try. I would have never guessed it was that easy.

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

ticalc2014 — Sun, 29 Jun 2014 12:55:55 GMT

I'm glad I could help somebody else the way other posts have helped me! My recent barrage of new accounts didn't get the most favorable terms, so after I build up a bit of a history on them, I'll have to try to talk their APR's down as well. If you don't carry a balance, it doesn't matter what the APR is, but I'd rather be safe than sorry, in the event that I have to carry a balance on one or more cards down the road.

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

Anonymous — Sun, 29 Jun 2014 13:44:18 GMT

@ticalc2014 wrote:
I'm glad I could help somebody else the way other posts have helped me! My recent barrage of new accounts didn't get the most favorable terms, so after I build up a bit of a history on them, I'll have to try to talk their APR's down as well. If you don't carry a balance, it doesn't matter what the APR is, but I'd rather be safe than sorry, in the event that I have to carry a balance on one or more cards down the road.

How long did you have the card before hitting them up for a reduction in APR?

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

ticalc2014 — Sun, 29 Jun 2014 13:54:35 GMT

@Anonymous wrote:
@ticalc2014 wrote:
I'm glad I could help somebody else the way other posts have helped me! My recent barrage of new accounts didn't get the most favorable terms, so after I build up a bit of a history on them, I'll have to try to talk their APR's down as well. If you don't carry a balance, it doesn't matter what the APR is, but I'd rather be safe than sorry, in the event that I have to carry a balance on one or more cards down the road.
How long did you have the card before hitting them up for a reduction in APR?

I have had the card for 2 1/2 years. I wish I had known in the past that it was this easy to request an APR reduction, but I didn't really pay much attention to the terms on my cards until I signed up here. Also, my credit hasn't really improved until the past month or so, from the time that I opened the account, so I'm not sure what kind of offer I would have gotten solely based on my history with them, or what factors they take into account when processing an APR reduction request.

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

Anonymous — Sun, 29 Jun 2014 15:09:52 GMT

I'm a new Citi customer. Actually, I'm new to credit in general. How long do you think I should wait before hitting them up for APR reduction? do you thing AAoA of 1 year would be too soon? Thanks for your insight!

@ticalc2014 wrote:
@Anonymous wrote:
@ticalc2014 wrote:
I'm glad I could help somebody else the way other posts have helped me! My recent barrage of new accounts didn't get the most favorable terms, so after I build up a bit of a history on them, I'll have to try to talk their APR's down as well. If you don't carry a balance, it doesn't matter what the APR is, but I'd rather be safe than sorry, in the event that I have to carry a balance on one or more cards down the road.
How long did you have the card before hitting them up for a reduction in APR?
I have had the card for 2 1/2 years. I wish I had known in the past that it was this easy to request an APR reduction, but I didn't really pay much attention to the terms on my cards until I signed up here. Also, my credit hasn't really improved until the past month or so, from the time that I opened the account, so I'm not sure what kind of offer I would have gotten solely based on my history with them, or what factors they take into account when processing an APR reduction request.

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

ticalc2014 — Sun, 29 Jun 2014 15:23:07 GMT

@Anonymous wrote:
I'm a new Citi customer. Actually, I'm new to credit in general. How long do you think I should wait before hitting them up for APR reduction? do you thing AAoA of 1 year would be too soon? Thanks for your insight!

@ticalc2014 wrote:
@Anonymous wrote:
@ticalc2014 wrote:
I'm glad I could help somebody else the way other posts have helped me! My recent barrage of new accounts didn't get the most favorable terms, so after I build up a bit of a history on them, I'll have to try to talk their APR's down as well. If you don't carry a balance, it doesn't matter what the APR is, but I'd rather be safe than sorry, in the event that I have to carry a balance on one or more cards down the road.
How long did you have the card before hitting them up for a reduction in APR?
I have had the card for 2 1/2 years. I wish I had known in the past that it was this easy to request an APR reduction, but I didn't really pay much attention to the terms on my cards until I signed up here. Also, my credit hasn't really improved until the past month or so, from the time that I opened the account, so I'm not sure what kind of offer I would have gotten solely based on my history with them, or what factors they take into account when processing an APR reduction request.

As I was told in the chat, there's no set guideline as to how long you have to wait between requests. While I wouldn't ask for an APR reduction every week so as to become a nuisance, after you build up 6 months of history with Citi, it probably wouldn't hurt to put in a request, especially if you notice your credit improving. From my understanding of other topics here on the forums, APR reductions are always soft pulls, so there's really no harm in asking. If you're told no lower APR offers are available, ask again in another month or two to see if that's changed. Once you get a reduction, you could still ask for further reductions down the road. Once the time comes for an APR reduction request, I wish you the best of luck!

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

Anonymous — Sun, 29 Jun 2014 16:29:47 GMT

Thanks! I might have to wait until my into rate of 0% runs out because it will be hard to justify my rate being too high

But when it adjust to the 21.9%, then I'll call

But thanks again for putting this out there - great info!!!

Re: Citi Diamond Preferred APR reduction - 18.99% -> 16.99%

eddie84 — Sun, 29 Jun 2014 17:58:36 GMT

I just got off the live chat with Citi rep and she said she couldn't find any offer at this time but she told me to check back in 3 months time to check for any special APR offer (I have the same Diamond Preferred and 18.99% APR as the OP).

Anyhoo, thanks of the heads up OP and I'll be sure to check with them again in a few months.