topic Re: how do I get chase to drop my APR from 30% in General Credit Topics

how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 01:41:32 GMT

you guessed it- I missed a payment after taking chase up on a 0% APR balance transfer offer. The ^%&*^s at chase were unsympathetic. The APR skyrocketed to 30%. my question: Has anyone here had any success at getting them to revert the APR back to something reasonable? also, what about asking chase if they'll transfer the credit line of that card onto my other chase credit account, which has a normal APR? any pros and cons?

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 02:10:39 GMT

What's your util? What other CCs do you have? What's their util?

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 03:49:35 GMT

@Anonymous wrote:
you guessed it- I missed a payment after taking chase up on a 0% APR balance transfer offer. The ^%&*^s at chase were unsympathetic. The APR skyrocketed to 30%. my question: Has anyone here had any success at getting them to revert the APR back to something reasonable? also, what about asking chase if they'll transfer the credit line of that card onto my other chase credit account, which has a normal APR? any pros and cons?

Check your disclosures - many may "at their option" remove the default rate after 6 months. My HSBC did after I asked.

Message Edited by Timothy on 06-05-2007 08:49 PM

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 02:51:24 GMT

Timothy wrote:

Check your disclosures - many many "at their option" remove the default rate after 6 months. My HSBC did after I asked.

If you lean on 'em, many will drop default rates sooner. I kept banging on State Farm using my own tactics. Pay the CC down some, ask again.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=4120

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 03:49:03 GMT

@Anonymous wrote:

@Anonymous wrote:

Check your disclosures - many many "at their option" remove the default rate after 6 months. My HSBC did after I asked.

If you lean on 'em, many will drop default rates sooner. I kept banging on State Farm using my own tactics. Pay the CC down some, ask again.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=4120

nice thread- I must have missed that one.
How responsive is crap one to this?

I have them both down to $1 balances.

Message Edited by Timothy on 06-05-2007 08:49 PM

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 03:55:07 GMT

Timothy wrote:

How responsive is crap one to this?

I have them both down to $1 balances.

They tend to be a bear, with everything. I have a Cr*p One card with a $300 CL. What high balance is reporting on yours?

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 04:00:49 GMT

@Anonymous wrote:

@Anonymous wrote:
How responsive is crap one to this?

I have them both down to $1 balances.

They tend to be a bear, with everything. I have a Cr*p One card with a $300 CL. What high balance is reporting on yours?

Crapone #1 CL $500 High bal $850 balance $1 -opened 2001
Crapone #2 CL $500 High bal $754 balance $1 -opened 2005

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 04:28:31 GMT

Timothy wrote:

Crapone #1 CL $500 High bal $850 balance $1 -opened 2001
Crapone #2 CL $500 High bal $754 balance $1 -opened 2005

Give it a shot. Can't hurt. Most they can do is say no. Not like they'll send a large man to your house and kick you in the groin. Although, if they did, the settlement would likely wipe out any and all credit/debt woes for some time to come. You think if I dared 'em on this they would oblige me? Sorry, wandering.

Run the balance up to about $25 on each. The $1 balance might be too low to register as between 1 and 9 percent util.

Any other CCs?

Message Edited by Noah_Bodie on 06-05-2007 09:28 PM

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 05:15:36 GMT

@Anonymous wrote:

@Anonymous wrote:

Crapone #1 CL $500 High bal $850 balance $1 -opened 2001
Crapone #2 CL $500 High bal $754 balance $1 -opened 2005

Give it a shot. Can't hurt. Most they can do is say no. Not like they'll send a large man to your house and kick you in the groin. Although, if they did, the settlement would likely wipe out any and all credit/debt woes for some time to come. You think if I dared 'em on this they would oblige me? Sorry, wandering.
Run the balance up to about $25 on each. The $1 balance might be too low to register as between 1 and 9 percent util.
Any other CCs?

Message Edited by Noah_Bodie on 06-05-2007 09:28 PM

Yep-
WAMU 1500 CL - no balance right now but will before the 19th statement
HSBC $500 - put TC on it last week.
New HSBC $1000 $250 bal at 0% - has not shown up yet

Think I will wait for the balances to update on my CR before bugging them.
BTW I was at 70% UTL last month.

Message Edited by Timothy on 06-05-2007 10:15 PM

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 05:45:53 GMT

I complained, after a while they dropped it back down again. I had to keep complaining monthly. There are no negs to moving credit lines back and fourth. I do it all the time when I have multiple cards at the same banks. I recommend moving your credit line too the other good card leaving a small amount on the one with a high apr. When they lower the rate again, just ask for a credit line increase then move over some of the CL back again. Either that or apply for a new card, move the credit line to the new card. But that would be last choice. But never cancel the old card.

Re: how do I get chase to drop my APR from 30%

Anonymous — Wed, 06 Jun 2007 06:09:53 GMT

Timothy wrote:

Yep-
WAMU 1500 CL - no balance right now but will before the 19th statement
HSBC $500 - put TC on it last week.
New HSBC $1000 $250 bal at 0% - has not shown up yet

Think I will wait for the balances to update on my CR before bugging them.
BTW I was at 70% UTL last month.

Once all the CCs are reporting 1 to 9 percent util, your FICOs should be at their peak--based on util. It's one thing you can control and manipulate. Once there, you have the best possible shot at a CLI or APR reduction, but any sort of reduction of debt serves as a "hammer" to beat on CCCs.

Re: how do I get chase to drop my APR from 30%

Kevin5974 — Wed, 06 Jun 2007 09:38:16 GMT

Capital One is very easy to lower your APR. Call in and state you wish to cancel your card. Say you are cancelling because of the rediculous APR and they will transfer you to an Account Specialist that will lower it usually 3 to 5 points.