Any tips on how to get a rate reduction from Chase and Discover

[Anonymous]

I've been trying with Chase since last year and everytime they say no. One of the times I asked if I could talk to someone else about it (supervisor, etc) but again they said no, they said they are the ones that decide. Other times I'm told that my rate is the lowest they currently offer. Right now it's at 12.99%.

My rate on my Discover card is 16.99% and I'll be asking them for a reduction for the first time.

Any tips on what I can do?

[Creditaddict]

depending what kind of Chase card you have. 12.29 might be lowest.

Discover seems a little high, but in the past when I did have discover I never was successful at a lower rate.

[MidnightVoice]

Rewards cards are typically much higher APRs than non reward cards.  My Chase is about 13% now I think.  I have a non rewards CU card with a low fixed rate for emergencies when I might need to carry a balance.

[Anonymous]

I have an Amazon Chase card. Can't they lower the rate anyways? If I enroll in a program with Take Charge America, wouldn't Chase lower the rate for them?

I hope I have better luck with Discover

[armywifey85]

Be happy with what you got If you call them you might get CLD or Rate Jacked.

[armywifey85]

USAA is giving out 4% right now guess the credit crisis isn't hurting them thank god !!

[Anonymous]

Seriuosly, they have done that? o_0

[Anonymous]

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@Anonymous wrote:

I'm told that my rate is the lowest they currently offer.

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Chase is lying if they are telling you that, my Disney visa rate just got lowered to 5.54%.

[Cleanmachine]

I have a Chase card that is 13.99% for purchases. I called them to see if they would lower the APR on this card. They informed me that is the lowest they could provide based on the type of card that I have. So, they are not lying when they inform you that is the best they can do.

You could apply for another Chase card with lower APR's and do a balance transfer depending on your current balance and the amount of credit limit you receive with the newer card.

Check out their Web Site on the various cards that they issue.

I did it and with no problems.

Just a suggestion.

Message Edited by Cleanmachine on 12-18-2008 05:29 PM

[Anonymous]

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@Cleanmachine wrote:

I have a Chase card that is 13.99% for purchases. I called them to see if they would lower the APR on this card. They informed me that is the lowest they could provide based on the type of card that I have. So, they are not lying when they inform you that is the best they can do.

You could apply for another Chase card with lower APR's and do a balance transfer depending on your current balance and the amount of credit limit you receive with the newer card.

Check out their Web Site on the various cards that they issue.

I did it and with no problems.

Just a suggestion.

Message Edited by Cleanmachine on 12-18-2008 05:29 PM

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You can go under the advertised rate.  I have the Chase Freedom Signature Visa  The last publised rate advertised was 13.99%.  My APR is less.