Cap 1 Venture EO APR Reduction Question

[Anonymous]

Does anyone know If there is a chance they would lower the APR after only the first statement? I know some banks make you wait a year. I dont carry a balance but 22.9% on a visa signature makes it my highest APR card besides the store cards.

[jsucool76]

I think EO intervention for something like that after having the card only one month is unnecessary and won't really get you anywhere. cap1 isn't known to budge that early.

[Anonymous]

Something to note though: I have been with them for about 4 years now as well....I am not a brand new customer not sure if that matters or not.

[jsucool76]

I'd wait till the 6 month mark with the account you're trying on.

if you don't carry balances the time from shouldn't really be too much of an issue.

[Anonymous]

Thank you!

[CreditCuriosity]

Ya I would wait 6 months at least...  

[kdm31091]

EOs are not magic wands. If your profile did not support a lower APR a month ago, it's not going to support it now. You can definitely try in 6 months though. Capital One is open to APR reductions from what I understand, but asking for it at a month is not likely to be met with success.

[taxi818]

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@kdm31091 wrote:

EOs are not magic wands. If your profile did not support a lower APR a month ago, it's not going to support it now. You can definitely try in 6 months though. Capital One is open to APR reductions from what I understand, but asking for it at a month is not likely to be met with success.

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+1 i feel your pain op. i also got that whopping 22.9 percent. and i noticed it does not have a 0 percent grace period. like 12 months. so im not sure if i will make the bonus spend on this one. just finished my spend on freedom.

[FinStar]

OP, there's a reason why you were assigned such high APR. As others have mentioned already, use the card, establish some positive history and you can revisit the option and contact them several months from now. Given that you were just recently approved, contacting the EO right away is jumping the gun too early.

[Membersince2013]

I've yet to see Capital One permanently reduce anyone's APR. They temporary reduced mine from 21.99% to 14.99% for 6 months and that was it.