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Cap1 Reduced APR offer

Established Contributor

Cap1 Reduced APR offer

I got an APR reduction email offer on my Capital One Venture Card. It says the APR can be reduced to 4.99% through May if I accept. Every month I charge about $650 on the card and then PIF after the statement cuts. I use this card (which has a $30K limit) and two others specifically because I try to show aggregate utilization of 1% each month to optimize my mortgage scores (if I go below 1% my mortgage scores drop). I have no current or foreseen reason to carry a balance on any of my cards so I don’t need the reduced APR but I figure if it’s a no loss offer I might as well take it ‘cause you never know. My question is: Is this a trick to take away my grace period on the card? The way I use the card now they only get swipe fees. Is this a way for them to start charging me interest the minute my purchases post? If anyone has accepted a similar offer please let me know how it works. Thanks
Message 1 of 5
Mega Contributor

Re: Cap1 Reduced APR offer

Your grace period stays regardless. Just continue to PIF and you won't pay interest. I used to take temporary APR reductions from them every 7 months and it never affected my grace period. 

Message 2 of 5
Established Contributor

Re: Cap1 Reduced APR offer

Oh okay. So I guess no reason not to accept then. Thank you for the answer Saeren. Smiley Happy
Message 3 of 5
Regular Contributor

Re: Cap1 Reduced APR offer

The only reason not to take these offers is if you are ABSOLUTELY sure you won't need to borrow from them at a reduced rate.


I pass on these unless the offer is 0% to tell them "try harder, not good enough."

Message 4 of 5
Super Contributor

Re: Cap1 Reduced APR offer

Cap1 hands these out like candy.  Every 7 months or so.

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>12/2020 CCT EX 821 TU 826 EQ 840

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- One miniature combination Russian phrase book and Bible
- One hundred dollars in rubles
- One hundred dollars in gold
- Nine packs of chewing gum
- One issue of prophylactics
- Three lipsticks
- Three pair of nylon stockings.

Shoot, a fella' could have a pretty good weekend in Vegas with all that stuff."

Major Kong (Slim Pickens) in Dr. Strangelove 1964
Message 5 of 5
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