Anyone had any luck asking for a lower Interest Rate from Capital One?

[Anonymous]

I have 3 Capital one accounts and they have 19.8%, 22.9% and 24.9% interest rate. the oldest is 3 year old and the newest is over 6 months old. I'm thinking about calling and asking for a lower interest rate on my 20K Venture card at 22.9. Anyone had success with that?

[Skye12329]

Cap1 is kinda like Chase, practically impossible to lower. Usually just need to apply for new card.

[OmarGB9]

+1

[Anonymous]

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@Anonymous wrote:

I have 3 Capital one accounts and they have 19.8%, 22.9% and 24.9% interest rate. the oldest is 3 year old and the newest is over 6 months old. I'm thinking about calling and asking for a lower interest rate on my 20K Venture card at 22.9. Anyone had success with that?

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They rarely do it.  But you don't lose anything by asking.  All they can say is yes or no.

[jacetx]

This year I was able to get a permanent reduction from 22.99% to 19.99%. I had to go through the EO to get it.

[Anonymous]

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@jace8602 wrote:

This year I was able to get a permanent reduction from 22.99% to 19.99%. I had to go through the EO to get it.

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That's still high but it's definately an improvement.

Thank you all for your responses!

[takeshi74]

How willing a creditor is to lower is one thing but your credit will also have to justify the APR reduction.

[Anonymous]

I have been unsuccessful in getting Cap 1 to lower my interest rate. I'm not saying it can't be done, but make sure you have a back up plan if your unsuccessful.

[willwar14]

I believe frontline reps can temp lower the APR for like 6-12 mons, but for a perma APR redux you have to go through the EO.

[Gunnar419]

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@takeshi74 wrote:

How willing a creditor is to lower is one thing but your credit will also have to justify the APR reduction.

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My scores are all over 800, but CapOne still has me at a 19.90 APR and the best I could get from them was a temporary six month drop to 15.xx% Meh. OTOH, Barclays and Discover both quickly and happily dropped my already decent APRs to 9.99 and 11.24 respectively. So with CapOne I have to conclude that good credit has little to do with it. With them, it's more a matter of fixed policy.