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Cap1 Reduced APR offer

Hex
Established Contributor

Cap1 Reduced APR offer

Hi,
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
4 REPLIES 4
Saeren
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
Hex
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
frugal47374
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
Meanmchine
Super Contributor

Re: Cap1 Reduced APR offer


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


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Message 5 of 5
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