Congrats on the rate reduction, either 5.9 or 6.9 is a great rate for a revolving account considering that most rates are north of 15%. 
@debtphobe wrote:Congrats @MauiMan85297! An almost 40% rate reduction -- not too shabby!
For the record, I called in and spoke to a person to ask for my rate reduction. Also, I didn't ask for a specific APR -- I just asked for a rate reduction. In any event, good stuff!
All good, I knew that the 5.99% rate was their lowest so that's the reason why I asked for a specific rate. 2 years ago I asked them for APR reduction on my GO Rewards and was reduced to 10.99%- so this time I wanted to plant that seed on what I was looking for. Totally happy with 6.9% and appreciate the help!
This post had me ask about a rate reduction on my cash rewards card. Went from 18 to 16.99. I had asked for 14.99. My Amex just became eligible. It's currently at 16.99. I'm going to wait a little bit since I just did my cash rewards.Just plugging away on my credit journey...
@800wannabe420 wrote:
@Rottweilerlvr wrote:This post had me ask about a rate reduction on my cash rewards card. Went from 18 to 16.99. I had asked for 14.99. My Amex just became eligible. It's currently at 16.99. I'm going to wait a little bit since I just did my cash rewards.Just plugging away on my credit journey...
You don't really need to wait unless you want to...
Providing your Amex is at least a year old and it has been a year since your last APR reduction request, you can ask for multiple cards at the same time.
Each card is a separate entity and waiting 365+days doesn't buy you anything.
Actually, if you don't get the lowest APR reduction possible, it delays the date you can ask again.
Well, my thought process is if my rate on my Amex is what my cash rewards went to, then they probably don't see me credit worthy for something lower. That is why I was going to wait a little bit. Is that not the case?
@800wannabe420 wrote:
@Rottweilerlvr wrote:
@800wannabe420 wrote:
@Rottweilerlvr wrote:This post had me ask about a rate reduction on my cash rewards card. Went from 18 to 16.99. I had asked for 14.99. My Amex just became eligible. It's currently at 16.99. I'm going to wait a little bit since I just did my cash rewards.Just plugging away on my credit journey...
You don't really need to wait unless you want to...
Providing your Amex is at least a year old and it has been a year since your last APR reduction request, you can ask for multiple cards at the same time.
Each card is a separate entity and waiting 365+days doesn't buy you anything.
Actually, if you don't get the lowest APR reduction possible, it delays the date you can ask again.
Well, my thought process is if my rate on my Amex is what my cash rewards went to, then they probably don't see me credit worthy for something lower. That is why I was going to wait a little bit. Is that not the case?
I don't think it matters, otherwise we would all have the same APR for all our NFCU cards from the get go.
Each card is unique in that cards with higher rewards tend to have a higher minimum APR...
Agreed. Each card is evaluated on its own merits as well as your overall profile. Plus, it doesn't hurt to ask! It's not like there's a "CLI request" waiting period if denied.
