Capital One APR Reduction...

Andy77 · ‎06-30-2014

How easy is is it to get your APR reduced. They JUST gave me the card last week with a 20.9 APR (highest for the Venture card)

If I PIF, in two years, do you think I could qualify for the lowest offered for that card, around 13.5 % or no because that is for spotless credit and in two years my bk will be on my report still, but then 7 years old...

Thoughts....

notfancy · ‎06-30-2014

@Andy77 wrote:
How easy is is it to get your APR reduced. They JUST gave me the card last week with a 20.9 APR (highest for the Venture card)

If I PIF, in two years, do you think I could qualify for the lowest offered for that card, around 13.5 % or no because that is for spotless credit and in two years my bk will be on my report still, but then 7 years old...

Thoughts....

I can't even get them to give me a temp reduction even though I hardly ever carry a balance. I've been with them for three years. I've gotten card upgrades, and limit increases that are great, but they won't move my APR. They told me that mine won't go down unless my credit is in or close to the 800s which I thought was absurd coming from the EO office.

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700 Seedling again as of 07/29/14

Andy77 · ‎06-30-2014

Interesting.....

Well, I am gonna PIF anyway so I wont carry a balance, but it would be nice to have a lower APR just in case one day there is some emergency I can't pay for.

If I were you i would KEEP trying. Example...Barclays told me they would not PC my Apple Financing Visa and I flat out told the woman.."I am going to call back every day until I can change it, as I know others have" and she did it. Sometime persistance is key.

BluePoodle · ‎06-30-2014

@Andy77 wrote:
Interesting.....

Well, I am gonna PIF anyway so I wont carry a balance, but it would be nice to have a lower APR just in case one day there is some emergency I can't pay for.

If I were you i would KEEP trying. Example...Barclays told me they would not PC my Apple Financing Visa and I flat out told the woman.."I am going to call back every day until I can change it, as I know others have" and she did it. Sometime persistance is key.

I received a 4% APR reduction for 7 months. I was carrying a balance until the 0% offer ended. I was running all my charges through my card until my recent apps this last month. Once 0% ran out I began PIF all of the time.

MissMoni223 · ‎06-30-2014

Well I just recently got Capital One to reduce my APR from 19.8% to 17.9% on my Quicksilver 1. I did this at the 1 year mark through the EO and they also waived my AF, but wouldn't do a CLI, stating that I don't have enough "experience" with high lines of credit. Go figure! Anyway, contact the EO after a year and go for it!

Gardening Until Further Notice
15 Credit Cards (12 Major Banks & 3 Store Cards)

Andy77 · ‎06-30-2014

Perfect....Thank you... I will wait for the one year mark and try...

806D2 · ‎06-30-2014

I noticed today they reduced my APR to around 9% but with that they also reduced my cash advance from $4,100 to $700... thought that was interesting.

Amex Blue $5000, Amex ED $7500, Amex Green, Amex SPG $7500, Amex Hilton $7500, Chase United $15,000, Chase Marriott $15,000, Chase Freedom $10,000, Chase Slate $2000, Cap One $4,100, Macys $3500, Discover $2,500, CCFC $8,000

blu387 · ‎06-30-2014

@MissMoni223 wrote:
Well I just recently got Capital One to reduce my APR from 19.8% to 17.9% on my Quicksilver 1. I did this at the 1 year mark through the EO and they also waived my AF, but wouldn't do a CLI, stating that I don't have enough "experience" with high lines of credit. Go figure! Anyway, contact the EO after a year and go for it!

I have the worst time with Capital One (granted I did have a charge off with them about 6 years ago). I contacted the EO and was declined a credit limit increase. I was at 500... went up to 800 with the online request... and then I asked the EO for a reconsideration. The came back saying the same thing, "You don't have enough experience with high credit limits with Capital One".... well if you won't give me a high credit limit how am I supposed to get that experience?

They did credit my annual fee ($74) for the last year, but that's it, no APR reduction, no CLI... bleh. Capital One just isn't doing it.

I told them I would likely close out the account at the end of the year beause I can't even buy a $1k tv if I wanted to with the card. I have 3 other cards with relatively high limits with regards to my income: USAA 2.5k, AMEX BCP 4k, and NFCU Sig 5k. So... Capital One is the only one who won't get me over 1k.

Others have better experience... but I don't see that I can justify keepign them any longer with a $74 annual fee and no regular usage.

Good Luck to you though!

lg8302ch · ‎07-01-2014

Cap1 has been bombarding me with BT offers and just about a month ago I accepted their offer for 1% BT fee with 12 mo 0% APR. So once that is paid back I will try to permanently lower my 16,9% to their 12,9%. Might not be an easy mission but it is not important just more like a game plan for me ...My goal is to get best terms on all cards and wonder if that is easier than getting a small reduction on my worst term card Chase Freedom with 22,99%.. ha ha.. that is what happens if I get bored with gardening