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Achieved One of My Gardening Goals Today

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Valued Contributor

Achieved One of My Gardening Goals Today

Since I can't apply for new credit while in the garden I am tinkering with my credit in other ways to scratch my itch. I called Bank of America and reduced the APR on my Cash Rewards Signature Visa from 21.99% to 18.99%. I never carry a balance on this card but I have had this account for just over two years and my FICO scores have improved by 100 points since I opened this account. I am off to see what other credit goodness I can accomplish for myself.

 

ETA: The several CSRs that I spoke with were all US-based call centers.

















Your FICO credit scores are not just numbers, it’s a skill.

Message 1 of 66
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Mega Contributor

Re: Achieved One of My Gardening Goals Today

Super gratsSmiley Happy i did this recently myselfSmiley Happy my second since opening my cardSmiley Happy
Message 2 of 66
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Valued Contributor

Re: Achieved One of My Gardening Goals Today

Just got off the phone with Synchrony/Amazon Prime. My interest rate is 28.24%. Per the CSR everyone's APR is 28.24%. Chase's Amazon CC and using AmEx on Amazon is looking better and better. I do not carry a balance on my Amazon account so it isn't really an issue. It is just the principle. So, Amazon Prime CC is now on death row. Once I am able to start applying for Chase CC I think after my coveted Southwest Airlines Rapid Rewards Priority Visa Signature my next card will be Chase's co-branded Amazon CC.

 

"Hello, Synchrony/Amazon? I am calling to cancel my account. ... Why do you ask? ... I just opened a Chase Amazon Rewards Visa Signature account with a much lower APR than 28.24%."

 

(Stop this, its not allowed here in any form and is a violation of this sites TOS)

 

















Your FICO credit scores are not just numbers, it’s a skill.

Message 3 of 66
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Valued Contributor

Re: Achieved One of My Gardening Goals Today

STRIKE TWO for Synchrony!

 

Called Synchrony/Car Care and I am paying 29.99% APR on this card. Again, I never carry a balance however I am determined to try to lower my APRs on all cards. 

 

 I was told, again, that this account is fixed at 29.99% APR and except for promotional APRs at the time of purchase that I would not be able to lower the APR on this account.

 

Now I am understanding first hand why retail credit accounts are not so popular with the knowledgeable credit crowd!

 

Synchrony/Car Care, you too are sentenced to credit card death row!

















Your FICO credit scores are not just numbers, it’s a skill.

Message 4 of 66
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Valued Contributor

Re: Achieved One of My Gardening Goals Today

STRIKE THREE for Synchrony!!!

 

Wow! I called to try to lower my Synchrony/Conoco account APR of 29.24%. I spoke with a CSR, {Moderator Edit - No need for these types of descriptions- Irish80}, who was happy to tell me that my APR was recently lowered. I then challenged her asking if that was because the prime rate was lower? She paused and said yes. I asked if I could get an additional reduction in my APR and was told that a lower APR was not available at this time. 

 

I could not get any further information out of her but it too sounds like this is a fixed APR and will not be reduced.

 

A Synchrony death row trifecta!

 

I am thinking these cards are going to see a lot more of the sock drawer and perhaps die an organic credit death. My Synchrony cards might see the light of day once or twice a year. I am not sure if I should even request CLI in December when I planned on my semiannual request. I am very disappointed in Synchrony right now. They have been good to me in CLI but that is because they want to suck the life out of me if I actually carry a balance.

 

Shame on you Synchrony!

















Your FICO credit scores are not just numbers, it’s a skill.

Message 5 of 66
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Moderator

Re: Achieved One of My Gardening Goals Today

First, congrats on your current successful rebuild and all the progress you've made. 

It's impressive and great job on having discipline and persistence to achieve your goals. 

 

With that said, you've been around long enough to know Syncrony does not do APR reductions on demand, just like Chase does not and yet, by your own admission and recent thread, that's what you "covet"

It's not their business model and they are not discriminating against you. Anyone calling would have received same response. 

The nature of UW for store cards is such that higher APRs compensate for higher risk of default. 

If you have no use for these cards, and they are no longer meeting your needs, than closing them is the right choice, regardless of APR. They are not trying to trap you into paying interest, you're the one who is in control of what you pay. These cards were not meant for balance carrying.

 

 

When you got these cards, terms were spelled out, and APR listed in no unclear terms, so there should have been no surprises there. Also, written language does not contain accents, so it couldn't have been that.  You've mentioned heavy accents  in three consecutive posts for no obvious reason,  so I'm hoping mine does not offend you. 

Message 6 of 66
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Established Contributor

Re: Achieved One of My Gardening Goals Today

Agreed. Both my CareCredit and DiscountTire are used for the 6 month, no interest benefit

 

they could make the APR 35% for all I care.  

you only need a couple of cards with lower APR, in case of an emergency.   Have a low APR on all cards, that are regularly paid off doesnt have any positive or negative impact.   

July 31/2019. EX-712. EQ-704. TU-726
Dec 16/2019. EX. 721. EQ. 723. TU 746
Aug 8/2020 EX. 728 EQ. 714 TU 744
Nov 25/2020 EX. 725 EQ. 713 TU 745
Inq. EX 6 EQ 4 TU 2 - - CC 5x24, 1x12
Amex BCP $20k - Apple GS $17k - BMW/Elan $5k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase United Club Infinite $20k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $20.5k - HSBC Gold - $10.5k - Wells Sig Visa $12k
Message 7 of 66
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Valued Contributor

Re: Achieved One of My Gardening Goals Today


@Remedios wrote:

First, congrats on your current successful rebuild and all the progress you've made. 

It's impressive and great job on having discipline and persistence to achieve your goals. 

 

Thank you, it has been long however this forum has been most educational and helpful in getting there.

 

With that said, you've been around long enough to know Syncrony does not do APR reductions on demand, just like Chase does not and yet, by your own admission and recent thread, that's what you "covet"

 

Actually, no I have not seen anything regarding Synchrony and APR reductions. This is a new data point for me.

 

It's not their business model and they are not discriminating against you. Anyone calling would have received same response. 

The nature of UW for store cards is such that higher APRs compensate for higher risk of default. 

 

I never said that I was being discriminated. I was just relating my experience trying to lower APRs.

 

If you have no use for these cards, and they are no longer meeting your needs, than closing them is the right choice, regardless of APR. They are not trying to trap you into paying interest, you're the one who is in control of what you pay. These cards were not meant for balance carrying.

 

I didn't say I had no use for them. I just today realized though my experience why retail cards are not as useful as bank cards are. As of today, I have placed Synchrony cards in the sock drawer and they are on the chopping block. When I am done in the garden and begin my measured and thought out application for credit, I will evaluate if the Synchrony accounts are worth keeping. Until then, they remain in my credit arsinal. 

 

When you got these cards, terms were spelled out, and APR listed in no unclear terms, so there should have been no surprises there.

 

No suprises, just realization. How often do you think about the terms of a credit account before you use it?

 

Also, written language does not contain accents, so it couldn't have been that. 

 

All of my communication today has been verbal, so no, I have not had any accent related issues in written language today.

 

You've mentioned heavy accents  in three consecutive posts for no obvious reason,  so I'm hoping mine does not offend you. 

 

I mentioned heavy accents in three consecutive posts because the last three phone converstions I have had dealing with my three Synchrony accounts have been with offshore call centers. I state this because some companies are more concerned about keeping jobs in the US than others. My first post stated that I spoke with a CSR in a US-based call center. It is just to compare and contrast, nothing more as I am not offended accents. 


 

















Your FICO credit scores are not just numbers, it’s a skill.

Message 8 of 66
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Valued Contributor

Re: Achieved One of My Gardening Goals Today


@RSX wrote:

Agreed. Both my CareCredit and DiscountTire are used for the 6 month, no interest benefit

 

they could make the APR 35% for all I care.  

you only need a couple of cards with lower APR, in case of an emergency.   Have a low APR on all cards, that are regularly paid off doesnt have any positive or negative impact.   


I agree. 

 

Synchrony keeps sending me emails and mailed flyers about using CarCare for more than just Tires and Auto Repair. They want it to be a daily driver for gas and convenience store purchases, or so that is the impression I get.

 

I rarely carry a balance, and Synchrony accounts are definitely not ones I would use if I needed to. 

















Your FICO credit scores are not just numbers, it’s a skill.

Message 9 of 66
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Valued Contributor

Re: Achieved One of My Gardening Goals Today

Just got off the phone with Discover and it's US-based customer support as anyone who watches TV would know. 

 

My APR with Discover was at 24.99%. I didn't realize this, as again, I rarely if ever carry a balance. The nice lady who I spoke with lowered my APR 4.75 points to 20.24%. 

 

Love you Discover!

















Your FICO credit scores are not just numbers, it’s a skill.

Message 10 of 66
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