Has anyone had success getting a lower APR when you've never missed a payment for many years?
I'd like to call my Credit card companies, but has anyone had success with this? And how did you ask? For example what points did you bring up?
BK DC 10/18/18
No need to overthink it, just use chat, secure message, or call them up, and say something like "I really like my card, but the APR is higher than my other credit cards. Are there any offers to lower the APR on my card?"
I have had success with Amex (immediately after opening my SPG; computer gave me a 17.x% APR and my other Amex cards were all the lowest tier at 15.x%) by chat.
I have had success with BoA by phone (got my Travel Rewards lowered a few percentage points).
I have had success with Discover (got mine lowered 1.5%, got DW a year at 0%) by chat.
I have had huge success with Citi (got DW's card that got rate jacked a decade ago lowered from 25.49% to 14.49% in 2% increments every 48 hours, then another 1% on the last successful try 2 days after that last 2%) by chat.
Capital One does not offer permanent AR reductions. That 26.99% card you got when you were 18 will never go down. But they do sometimes offer a lower APR for 7 months.
Chase will also lower APRs, but will not lower them below the current advertized APR range for a particular card (i.e. 16.99% - 24.99%), and since my Chase cards are all at the lowest possible (actually they've been sending out letters to some of to tell us they are raising our APRs because they're too low) I have not had luck.
Keep in mind that some cards (store cards in particular) may have a set APR for everyone, so your Target card won't be lower than 23.40% and your Amazon Store Card won't be lower than 25.99% or whatever the current rates are now.
My cards that are currently killing me are backed mostly by synchrony....so not a chance it seems. I'll still try the others though.
And would you suggest calling back door numbers or strictly chat or main numbers?
First attempt Walmart Mastercard chat feature. No on the APR reduction but they did move the payment date to the 15th which will help since MOST of my cards are due the 1st and that's what's hurting right now.
@K-in-Boston wrote:No need to overthink it, just use chat, secure message, or call them up, and say something like "I really like my card, but the APR is higher than my other credit cards. Are there any offers to lower the APR on my card?"
I have had success with Amex (immediately after opening my SPG; computer gave me a 17.x% APR and my other Amex cards were all the lowest tier at 15.x%) by chat.
I have had success with BoA by phone (got my Travel Rewards lowered a few percentage points).
I have had success with Discover (got mine lowered 1.5%, got DW a year at 0%) by chat.
I have had huge success with Citi (got DW's card that got rate jacked a decade ago lowered from 25.49% to 14.49% in 2% increments every 48 hours, then another 1% on the last successful try 2 days after that last 2%) by chat.
Capital One does not offer permanent AR reductions. That 26.99% card you got when you were 18 will never go down. But they do sometimes offer a lower APR for 7 months.
Chase will also lower APRs, but will not lower them below the current advertized APR range for a particular card (i.e. 16.99% - 24.99%), and since my Chase cards are all at the lowest possible (actually they've been sending out letters to some of to tell us they are raising our APRs because they're too low) I have not had luck.
Keep in mind that some cards (store cards in particular) may have a set APR for everyone, so your Target card won't be lower than 23.40% and your Amazon Store Card won't be lower than 25.99% or whatever the current rates are now.
@K---Pretty sure I already know the answer to this--but when you asked Chase to lower your APRs did you have to take one or more HPs to have it done? I've got a 3.5 year old Freedom (my most useless card out of 37) that started at $1500 @Anonymous.49% and neither have budged since I've had them--and was wondering if it's even worth trying for (CLI and APR reduction).
BUSINESS 
