topic Score! Chase lowered my interest rate. in Credit Cards

Score! Chase lowered my interest rate.

Anonymous — Tue, 15 Jul 2008 03:51:50 GMT

I was on the phone with Chase just now inquiring about upping the cash advance limit on my Freedom card (you never know when it might come in handy). I figured I would ask them before asking Amex.

They were unable to increase it without increasing my CL, which they offered to apply for, but I declined to avoid the hard (the CSR did tell me it would be a hard ahead of time, even though I already knew).

He asked if there was anything he could do for me and I asked if he could lower my interest rate. I don't carry a balance, but I figured I'd check anyway.

After transferring me they lowered it to 11.99 percent. The card started at a 17 something IR, but had been cut a couple of times over the course of a couple statements.

This is fractionally higher than my NFCU MC (no rewards) at 11.9 percent, which is the card I got in case of an emergency where I needed to carry a balance. This means it's now better to use the Freedom card as my emergency card, since the IR is nearly the same, and I'll get some serious cash back.

Love them or hate them, Chase has been great to me!

Re: Score! Chase lowered my interest rate.

MsKiwi — Tue, 15 Jul 2008 03:58:53 GMT

FretlessMayhem wrote:
I was on the phone with Chase just now inquiring about upping the cash advance limit on my Freedom card (you never know when it might come in handy). I figured I would ask them before asking Amex.

They were unable to increase it without increasing my CL, which they offered to apply for, but I declined to avoid the hard (the CSR did tell me it would be a hard ahead of time, even though I already knew).

He asked if there was anything he could do for me and I asked if he could lower my interest rate. I don't carry a balance, but I figured I'd check anyway.

After transferring me they lowered it to 11.99 percent. The card started at a 17 something IR, but had been cut a couple of times over the course of a couple statements.

This is fractionally higher than my NFCU MC (no rewards) at 11.9 percent, which is the card I got in case of an emergency where I needed to carry a balance. This means it's now better to use the Freedom card as my emergency card, since the IR is nearly the same, and I'll get some serious cash back.

Love them or hate them, Chase has been great to me!

Congrats!

Re: Score! Chase lowered my interest rate.

fused — Tue, 15 Jul 2008 04:00:06 GMT

Nice! We haven't been able to get Chase to lower the APR on our joint Plat Visa. This is a card with almost 15 years of perfect payment history and 6.7 util reporting. We are still stuck at 14.99%.

Re: Score! Chase lowered my interest rate.

Anonymous — Tue, 15 Jul 2008 04:14:28 GMT

@fused wrote:
Nice! We haven't been able to get Chase to lower the APR on our joint Plat Visa. This is a card with almost 15 years of perfect payment history and 6.7 util reporting. We are still stuck at 14.99%.

Did they give any particular reason? That's a bit high for a non-rewards card.

Re: Score! Chase lowered my interest rate.

fused — Tue, 15 Jul 2008 04:47:30 GMT

@Anonymous wrote:

@fused wrote:

Nice! We haven't been able to get Chase to lower the APR on our joint Plat Visa. This is a card with almost 15 years of perfect payment history and 6.7 util reporting. We are still stuck at 14.99%.

Did they give any particular reason? That's a bit high for a non-rewards card.

You're telling me. They always say Mr. XXXX, you're not eligible at this for an APR reduction, call us back in six months. I can't threaten to close the card, it's my oldest non-AU TL.

Re: Score! Chase lowered my interest rate.

fused — Tue, 15 Jul 2008 04:48:19 GMT

But at least one of us has gotten somewhere with Chase.

Re: Score! Chase lowered my interest rate.

mrlimo — Tue, 15 Jul 2008 12:38:03 GMT

Chase has always treated me well in this matter. I had an MBNA card change over to a Chase back in 2004 and they kept me at the 7.99% rate that MBNA had me at. 20.99% for cah advances. They have also been real generous on there CLI's as well.

Re: Score! Chase lowered my interest rate.

Anonymous — Tue, 15 Jul 2008 12:59:37 GMT

@mrlimo wrote:
Chase has always treated me well in this matter. I had an MBNA card change over to a Chase back in 2004 and they kept me at the 7.99% rate that MBNA had me at. 20.99% for cah advances. They have also been real generous on there CLI's as well.

When have the auto-CLIs come? Six months? A year?

Re: Score! Chase lowered my interest rate.

mrlimo — Tue, 15 Jul 2008 14:04:10 GMT

honestly I can't say off hand, I was not watching it that closely then. I would occasionally see that they increased the limit. In fact years ago when I was not aware of the fico impact of CLI's. I used to get upset when the limit was increased from the misconception that the higher the limit the more I had at my power to spend therefore lowering my credit score because of outstanding credit at my disposal. It wasn't until I really started to follow it and learning there rules that I had found out CLI's = good thing.

If I had to guess I would have to say they came on yearly interval's though.