No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I have a CSP at 15%, and for some reason, my Freedom is at 28%. I do sometimes carry a balance, so I'd like to get that interest rate down! Any thoughts? I called about 6 months ago and they told me they review every few months and then make changes based on their review. I am not sure what their formula is, and would love some thoughts on this so that I can work on a game plan to get this down.
Thanks so much! This board is the best.
@LisaJ wrote:I have a CSP at 15%, and for some reason, my Freedom is at 28%. I do sometimes carry a balance, so I'd like to get that interest rate down! Any thoughts? I called about 6 months ago and they told me they review every few months and then make changes based on their review. I am not sure what their formula is, and would love some thoughts on this so that I can work on a game plan to get this down.
Thanks so much! This board is the best.
That sounds like a penalty rate. Did you miss a payment or something?
@LisaJ wrote:I have a CSP at 15%, and for some reason, my Freedom is at 28%. I do sometimes carry a balance, so I'd like to get that interest rate down! Any thoughts? I called about 6 months ago and they told me they review every few months and then make changes based on their review. I am not sure what their formula is, and would love some thoughts on this so that I can work on a game plan to get this down.
Thanks so much! This board is the best.
The CARD Act requires lenders to periodically review accounts every six months for interest rate reductions. What Chase fails to tell you is that these mandated reductions will only apply to accounts which were facing the penalty APR but are now in good standing. I have had senior Chase account representatives tell me that the only way to get an APR reduction on an account in good standing is to close the account and re-apply.