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Chase lowers APR on my Freedom Card

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Super Contributor

Re: Chase lowers APR on my Freedom Card

Thanks @Birdman7, tells you how much I paid attention after the upgrade offer. lol
They keep emailing me to upgrade my IHG as well...hard pass. lol
Message 21 of 28
Valued Contributor

Re: Chase lowers APR on my Freedom Card


@Gmood1 wrote:
Congratulations MnB!
I received the same offer email last week.
Received a letter yesterday stating the same thing.
Decided I'll just keep the regular Freedom and sky high APR. lol

Nice to be in such esteemed company Smiley Happy

You don't have to take any action to get your APR lowered on the Freedom card; Chase has already decided to do it in September.

 

The only decision is whether or not to keep the Freedom or switch to the Freedom Unlimited.  Like you I've decided to keep the Freedom.

 

Chase has been making a major push lately.  In addition to reducing my APR, I've gotten balance transfer check offers in the mail yesterday and today.





Message 22 of 28
Frequent Contributor

Re: Chase lowers APR on my Freedom Card

I got this letter in the mail today as well. I'm very happy with it. This was one of my first cards and had a 24.99% APR and the way rates kept going up I thought it would eventually be 30% like some CreditOne predator card
FICO SCORE 08 - Aug 2019 - EX 769 - TU 760 - EQ 764



12/15 - First Tradeline - 12/17 - 800 Credit Score - 3/18 - Homeowner

Message 23 of 28
Valued Contributor

Re: Chase lowers APR on my Freedom Card

You lucky MF’ers! (MyFICOers)😉😁

Hope I get one!
New:




Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 24 of 28
Frequent Contributor

Re: Chase lowers APR on my Freedom Card

I just got approved a new Chase card and got a .25% lower APR than it was stated in the disclosures for the expected range.  Then I noticed two of my other cards were also lowered .25% recently. Must have been due to recent shift down in prime rate.

 

Sapphire Reserve   .....   Marriott Bonvoy Boundless  .....  World of Hyatt  cards

 

*Note: My Freedom is still on 0% intro financing for first 15 months so my posted rate on it didn't change. 




Total Length of Credit = 31 years; AoOA (Currently open accounts) = 26+ years; AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
*Hover cursor over each card to see name, CL
Message 25 of 28
Valued Contributor

Re: Chase lowers APR on my Freedom Card

Yeah that’s exactly what it is, scheduled for September I believe.
New:




Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 26 of 28
Frequent Contributor

Re: Chase lowers APR on my Freedom Card


@GeorgiaBulldog wrote:

@Innergflow wrote:
Chase just recently brought down my reserve from 19.24 to 18.99, I know it isn’t much but it did go down.

I don’t carry balance so it doesn’t make a difference to me

Sounds like Chase didn't lower your APR, but rather the Fed cutting the prime rate by .25% led to you having a lower APR.


OP said rate decreased from 25.99% to 17.24%.... so no, I do not think this has anything to do with the Prime rate going down .25

 

Congrats OP!

Amex Blue Cash Preferred | Citi Double Cash | Cap One Quicksilver | Chase Freedom | Chase IHG Rewards Club | Discover It
In The Garden since March 2019
FICO 8 Scores: EQ 850 / EX 804 / TU 818
TCL $76,000
Message 27 of 28
Valued Contributor

Re: Chase lowers APR on my Freedom Card

LOL. Was not talking about OP. Was talking about the post prior to mine: Aim_High.

Pretty sure a quarter of a percent is the feds.
New:




Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 28 of 28
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