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Chase lowers APR on my Freedom Card

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Valued Contributor

Chase lowers APR on my Freedom Card

Got  an email from Chase today stating that effective September 15 they were lowering the APR on my Freedom card from 25.99% to 17.24%.  So on their own they cut the APR from the highest to the lowest available rate.  Given all the comments about the impossibility of getting Chase to reduce APR this is certainly a nice surprise.  I suppose its an attempt to get me to use the card more, and outside of the quarterly bonus categories, but that's not going to happen.

 

The email also offered to "upgrade" my Freedom card to a Freedom Unlimited card; that's a bit strange since for my needs the 5% quarterly bonus is preferable to the 1.5% cashback.  I suppose if the offer said 3% cashback, as is currently available by apping for the FU, I would have considered it.  But since I already have 2% cards like Citi DC, PenFed PCR there's no compelling reason to "upgrade."

 

 

Screen Shot 2019-08-08 at 10.20.24 PM.png





Message 1 of 28
27 REPLIES 27
Established Contributor

Re: Chase lowers APR on my Freedom Card

Congrats! The best gifts are those unexpected. 

 

My Freedom APR is 13.49 but that was a Slate morph to Freedom. 

Message 2 of 28
Community Leader
Valued Contributor

Re: Chase lowers APR on my Freedom Card

@MaizeandBlue 

 

Very niceSmiley Happy

Message 3 of 28
Community Leader
Senior Contributor

Re: Chase lowers APR on my Freedom Card


@MaizeandBlue wrote:

Got  an email from Chase today stating that effective September 15 they were lowering the APR on my Freedom card from 25.99% to 17.24%.  So on their own they cut the APR from the highest to the lowest available rate.  Given all the comments about the impossibility of getting Chase to reduce APR this is certainly a nice surprise.  I suppose its an attempt to get me to use the card more, and outside of the quarterly bonus categories, but that's not going to happen.

 

The email also offered to "upgrade" my Freedom card to a Freedom Unlimited card; that's a bit strange since for my needs the 5% quarterly bonus is preferable to the 1.5% cashback.  I suppose if the offer said 3% cashback, as is currently available by apping for the FU, I would have considered it.  But since I already have 2% cards like Citi DC, PenFed PCR there's no compelling reason to "upgrade."

 

 

Screen Shot 2019-08-08 at 10.20.24 PM.png


Congratulations. There’s something in your credit profile they’re impressed with. 

GOALS: Garden til APR 2020 and 800 Club

GIRL WILLPOWER ("No Thanks" to Apple $7.5K, 12.99% Approval)


JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 4 of 28
Super Contributor

Re: Chase lowers APR on my Freedom Card

It is true it is exceptionally rare for Chase to lower an APR, but any time people ask, they do give the spiel of "we review accounts and lower APRs if you qualify...". While I've literally never heard of anyone actually getting a reduced APR because of those supposed reviews, apparently you're one of them!

Message 5 of 28
Valued Contributor

Re: Chase lowers APR on my Freedom Card

Congratulations, You may want to go buy a Lottery ticket!!!

Message 6 of 28
Valued Contributor

Re: Chase lowers APR on my Freedom Card


@CreditInspired wrote:

Congratulations. There’s something in your credit profile they’re impressed with. 

Thanks.  Unfortunately they weren't impressed enough to have any in-branch pre-approvals for me.  I stopped in at my local branch after getting the email in the hopes of applying for a Freedom Unlimited but there were no pre-approvals on my account; the last one I got was for a CSR last December.  The personal banker tried to get me to apply anyway but I declined since I knew I'm currently 13/24 and wouldn't get under 5/24 until June 2020.





Message 7 of 28
Community Leader
Senior Contributor

Re: Chase lowers APR on my Freedom Card


@MaizeandBlue wrote:

@CreditInspired wrote:

Congratulations. There’s something in your credit profile they’re impressed with. 

Thanks.  Unfortunately they weren't impressed enough to have any in-branch pre-approvals for me.  I stopped in at my local branch after getting the email in the hopes of applying for a Freedom Unlimited but there were no pre-approvals on my account; the last one I got was for a CSR last December.  The personal banker tried to get me to apply anyway but I declined since I knew I'm currently 13/24 and wouldn't get under 5/24 until June 2020.


Smiley Very Happy Smiley Very Happy

GOALS: Garden til APR 2020 and 800 Club

GIRL WILLPOWER ("No Thanks" to Apple $7.5K, 12.99% Approval)


JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 8 of 28
Established Contributor

Re: Chase lowers APR on my Freedom Card

Maize.....wake up....you're dreaming.

 

Did you rub your rabbit's foot or pick up a horseshoe lately?  I agree with the others, go buy a lottery ticket today.

 FICO 8
Message 9 of 28
Frequent Contributor

Re: Chase lowers APR on my Freedom Card

@OP, Congratulations on this extremely rare phenomenon.
After the Fed cut interest rates last week, I was hopeful this starts happening to all of us soon. But I did not expect Chase to play ball!
Amex BCE | Discover | Chase Freedom | Citibank DC | SYNCB | Barclay Rewards | BoA Cash Rewards | CapOne QS | Chase CSR | Chase FU | Amex Ascend | 2019 Goal: Gotta make it to 200k |
Message 10 of 28
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