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The subject line pretty much says it all. I'm interested in hearing your stories. I prefer the direct, yet polite, approach, but I want to make sure I don't step into a bear trap. Lemme have it!
With Citi you can use online Chat to ask if a lower rate is available. Discover used to have Chat but it has since been removed...at least on my end. However you can still send them a secure message and request the same. If an offer is available you'll get it...
Ask
Cap1 is the only one that I keep asking. They just give you a temp reduction. At least in my case they do.
Good Luck!
@CramEiko wrote:Ask
Cap1 is the only one that I keep asking. They just give you a temp reduction. At least in my case they do.
Good Luck!
FWIW Capital One isn't known to give permanent APR reductions... all you'll ever get from them are temporary reductions.
It's really just a matter of asking, keeping in mind not all lenders do permanent APR redutions upon request, so sometimes you won't have any luck just because of how the lender operates.
Most banks have heard requests for a lower APR before and have figured out a way to make it work for everyone. Some banks only offer temporary reductions like Capitol One while others like Discover like to pre-approve a 12mo 0% offer for their reps to hand out like lollipops. It really depends on the bank and what they are willing to do for you. Most permanent reductions only happen as a part of a loss of employment along with negotiating a payment plan for a closed account but you never know what a Bank can pull out of their bag of tricks. I had Citi give me a temporary low APR without me asking for it not that I plan on using it. Lastly being nice and courteous works wonders. The reps hear demands, whining, and take a beating all day long so being easy to work with goes a long way for them to just want to help you out.
I just recently got a 2% APR reduction on my BoA card. Called the number on the card and just asked.