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Anyone have luck getting Capital One to reduce APR?

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Anonymous
Not applicable

Anyone have luck getting Capital One to reduce APR?

I called Capital One this morning, asked for a lower APR on my Platinum MC which is currently at 24.4% but they told me I would have to apply for a Classic Platinum card in order to get a lower 20.9% APR.

 

Does this sound right? should I call again and try a different CSR?

 

Message 1 of 6
5 REPLIES 5
Ghoshida
Valued Contributor

Re: Anyone have luck getting Capital One to reduce APR?


@AhmedInVA wrote:

I called Capital One this morning, asked for a lower APR on my Platinum MC which is currently at 24.4% but they told me I would have to apply for a Classic Platinum card in order to get a lower 20.9% APR.

 

Does this sound right? should I call again and try a different CSR?

 


Not gonna happen.

 

Best you'll get is a 7 month temp APR reduction.

 

The only permanent route (apart from new application) is going the Exec Office route. Search google for contacts.

Message 2 of 6
Anonymous
Not applicable

Re: Anyone have luck getting Capital One to reduce APR?

Thanks! I don't wanna close out this card, as it is my oldest open CC right now. Capital One offered to increase my CLI to $2,500 if I pay at least $125 for the next 5 months but no APR reduction.

 

Message 3 of 6
Ghoshida
Valued Contributor

Re: Anyone have luck getting Capital One to reduce APR?


@AhmedInVA wrote:

Thanks! I don't wanna close out this card, as it is my oldest open CC right now. Capital One offered to increase my CLI to $2,500 if I pay at least $125 for the next 5 months but no APR reduction.

 


Make sure you pay the card in full every month; i.e. don't spend on things that you can't pay off completely. Also in the meanwhile try contacting the exec office. They are more sympathetic to such issues.

Message 4 of 6
Anonymous
Not applicable

Re: Anyone have luck getting Capital One to reduce APR?

Yes I have but I had to contact the EO to get it. Before that, the only APR reduction I was able to get was a temporary one.

Message 5 of 6
SouthJamaica
Mega Contributor

Re: Anyone have luck getting Capital One to reduce APR?

I called Cap One a few months ago on my platinum card, requesting an interest rate decrease. They were very accommodating, dropping it from 20% to 13%, but it was only temporary -- for 7 months -- which is pretty meaningless.


Total revolving limits 586020 (520820 reporting) FICO 8: EQ 706 TU 701 EX 692




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