Citi APR Decreases

[Anonymous]

I'm working on growing my ThankYou Premier card, as it will be a year old at the end of the month. For the second time in two days, I've had the interest rate reduced from 24.99% >> 21.49% >> 17.49%. 

I was wondering if there's a point Citi will stop decreasing the interest rate if I keep asking everyday, or will they keep lowering it until I get single digits? Any data points or useful information? 

[FinStar]

Once you've exhausted all potential channels to obtain the lowest possible APR (chat, phone, SM, etc.), then the account will reach a "ceiling".

This all depends a lot on the internal/behavioral score with Citi and other external factors that make each account elegible. You can potentially have 4 or 6 legacy accounts with Citi, but say only 3 will qualify for a lower APR adjustment, for instance. Single digit APRs are more trivial to obtain.

[DemonHusker]

May I ask how did you go about getting the APR decrease? Also how long do you have to have the card open before you are eligible. I got the same card back in December so it might be to early for me, but I would like to know

Thanks

[K-in-Boston]

Ask via chat every day until they tell you they no longer have an offer to reduce your APR.  I'm not sure why they can only do 2% at a time, but for some reason that's the way it works.  Got DW's Double Cash down a while back from 25.49% (rate jacked in the credit crunch) to 14.49% in steps of 2% at a time until that last one which just went from 15.49% to 14.49%.  The best part is if you get a comedian that tells you: "I have good news, you have 3 offers!  Your account is eligible for a 1% APR decrease, a 1.5% APR decrease, or a 2% APR decrease.  Which one would you like me apply?"

[Anonymous]

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@K-in-Boston wrote:

Ask via chat every day until they tell you they no longer have an offer to reduce your APR.  I'm not sure why they can only do 2% at a time, but for some reason that's the way it works.  Got DW's Double Cash down a while back from 25.49% (rate jacked in the credit crunch) to 14.49% in steps of 2% at a time until that last one which just went from 15.49% to 14.49%.  The best part is if you get a comedian that tells you: "I have good news, you have 3 offers!  Your account is eligible for a 1% APR decrease, a 1.5% APR decrease, or a 2% APR decrease.  Which one would you like me apply?"

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Most people get 2%, but it looks like I was able to receive a ~7% decrease in a 22 hour period over two days, equating to around 3.5% a day.  I'm not sure if it has to do with the fact that 24.99% is basically highway robbery, but who knows. 

[Anonymous]

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@DemonHusker wrote:

May I ask how did you go about getting the APR decrease? Also how long do you have to have the card open before you are eligible. I got the same card back in December so it might be to early for me, but I would like to know

Thanks

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The card is a few weeks from being a year old. You can do it on chat (on Citi's website). Just make sure you ask nicely. 

[wasCB14]

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@Anonymous wrote:

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@DemonHusker wrote:

May I ask how did you go about getting the APR decrease? Also how long do you have to have the card open before you are eligible. I got the same card back in December so it might be to early for me, but I would like to know

Thanks

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The card is a few weeks from being a year old. You can do it on chat (on Citi's website). Just make sure you ask nicely. 

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Also keep an eye out for targeted email promos. I got a 1.99% for 8 months offer when my Prestige had only been open for 4 months.

[Anonymous]

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@wasCB14 wrote:

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@Anonymous wrote:

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@DemonHusker wrote:

May I ask how did you go about getting the APR decrease? Also how long do you have to have the card open before you are eligible. I got the same card back in December so it might be to early for me, but I would like to know

Thanks

---

The card is a few weeks from being a year old. You can do it on chat (on Citi's website). Just make sure you ask nicely. 

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Also keep an eye out for targeted email promos. I got a 1.99% for 8 months offer when my Prestige had only been open for 4 months.

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I just recently finished a 0% for 8 months promotion on my card, which is why I started asking for APR decreases. 

[K-in-Boston]

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@Anonymous wrote:

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@K-in-Boston wrote:

Ask via chat every day until they tell you they no longer have an offer to reduce your APR.  I'm not sure why they can only do 2% at a time, but for some reason that's the way it works.  Got DW's Double Cash down a while back from 25.49% (rate jacked in the credit crunch) to 14.49% in steps of 2% at a time until that last one which just went from 15.49% to 14.49%.  The best part is if you get a comedian that tells you: "I have good news, you have 3 offers!  Your account is eligible for a 1% APR decrease, a 1.5% APR decrease, or a 2% APR decrease.  Which one would you like me apply?"

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Most people get 2%, but it looks like I was able to receive a ~7% decrease in a 22 hour period over two days, equating to around 3.5% a day.  I'm not sure if it has to do with the fact that 24.99% is basically highway robbery, but who knows. 

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Sorry I was not clearer. I meant 2% per chat session. The reduction from 25.49% to 14.49% was over the course of 9 days. There have been a lot of reports here of people asking every day or even multiple times in a single day, so my wait every 48 hours was likely overly cautious. Did you receive more than 2% in a single request? That would be a new DP.

[Anonymous]

I'm still on my 21 months 0% APR for purchases and BT's on the Diamond Preffered, so I plan to wait unil that'sover before I ask for any reductions. I just feel that it seems weird to ask for one when I'm not currently subject to any interest fees. lol

But it's cool to hear how easy it seems to get them, if youre persistant.