Ask for apr reduction?

Anonymous · ‎11-21-2016

Hey All,

I have a boa cash rewards card nearing the expiration of the 0apr. While this isn't a card I typically carry a balance on, I'd like to see if I can reduce it. The 0 intro ends in feb. It will then be 23.something percent. I have an offer in my boa app for the same card at 17.24%. I'm also up for a credit increase. Should I bother asking for a reduction while I'm in a 0 offer, or should I wait until the 0 apr expires? Thanks!

austinguy907 · ‎11-21-2016

While you're under the 0% period they probably won't be able to adjust the APR. I asked the same thing with AMEX / Discover before the 0% period was up and they couldn't touch it. I think the reasoning is the CARD act where they can't adjust terms for the first year.

Anonymous · ‎11-21-2016

I'd also add to be sure that your overall utilization is very low and that the rest of your reports look good before requesting an APR reduction with BoA. Good luck.

Anonymous · ‎11-21-2016

Thanks for the replies. I'll wait until the 0 is over.

In regards to this, "I'd also add to be sure that your overall utilization is very low and that the rest of your reports look good before requesting an APR reduction with BoA. Good luck."

My utilization is low, but what would need to be different in my reports vs what was there when i applied? I'm not sure what I need to do in that aspect.

Anonymous · ‎11-21-2016

@Anonymous wrote:
Thanks for the replies. I'll wait until the 0 is over.

In regards to this, "I'd also add to be sure that your overall utilization is very low and that the rest of your reports look good before requesting an APR reduction with BoA. Good luck."

My utilization is low, but what would need to be different in my reports vs what was there when i applied? I'm not sure what I need to do in that aspect.

Low overall utilization is definitely a good start. In terms of your reports overall, not having any recent negatives or significant score drops, or anything that would draw attention or be cause for concern with them. Hope it all works out!

Anonymous · ‎11-21-2016

Ah, gotcha. That makes sense. I should be good then. Won't be calling about it until feb. Will probably go thru the visa signature request at that time. I currently have the cli request link available. Used it a few months ago and got a nice increase. So tempted to do it again, but was waiting to find out what my salary raise will be for the next yr.