@kdm31091 wrote:
Again, "paying when you're supposed to" sounds great and it is what you should do, but I still maintain that sometimes that's just not gonna happen. Life is not perfect. Unless you have a gigantic income or savings account you may carry a balance here and there, so it makes sense to seek the lower APR. I don't understand the argument against it. What's the downside of trying to get it lowered?
Taking out of the equation the whole cancelling/reapplying thing, because I think that is overkill especially with Chase, there is nothing wrong with trying to get a lower APR.
Nobody is claiming that life is perfect, but rewards cards are simply not designed for carrying balances.
Why on earth would you cancel a rewards card and then reapply for the same card hoping to get a lower APR just in case life happens?? That doesn't even make sense.
Go to your local credit union and apply for a low apr card instead.
If you want to spend time and effort on getting your rewards card's APRs lowered then by all means knock yourself out. There is no negative effect that would come from it that I can see, but it's a giant waste of time and effort. Any card portfolio should contain at least one card with a super low APR for when "life happens". Get one! Use it! Use your Freedom for 5% CB in rotating categories as it was intended.
