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Discover APR Reduction Denial Letter

NRB525
Super Contributor

Discover APR Reduction Denial Letter

Finally noticed the "letter" that Discover sent me after declining to reduce my APR.

As backstory, I had a temporary CLI from $5k to $8k, which ran from May 2014 to May 2015. In May 2015, of course, the CL went from $8k to $5k, technically a CLD, though based on a temporary CLI to begin with.

 

So, Discover doesn't care. "You had a CLD, you get no APR relief". Now the question is, is the 4 month thing a standard cooling off period after a CLD, or is it just because May June July is within 4 months of that CLD/APR request? The CSR on the line gave me some vague indication that I had a low APR, which I do with a BT offer that runs into late 2016, but apparently that open BT APR wasn't the deal killer.

 

End of September, I'm calling again to see if I can get the 18.24% reduced.

 

2015 APR Request Denial Letter.JPG

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
Message 1 of 9
8 REPLIES 8
taxi818
Super Contributor

Re: Discover APR Reduction Denial Letter


@NRB525 wrote:

Finally noticed the "letter" that Discover sent me after declining to reduce my APR.

As backstory, I had a temporary CLI from $5k to $8k, which ran from May 2014 to May 2015. In May 2015, of course, the CL went from $8k to $5k, technically a CLD, though based on a temporary CLI to begin with.

 

So, Discover doesn't care. "You had a CLD, you get no APR relief". Now the question is, is the 4 month thing a standard cooling off period after a CLD, or is it just because May June July is within 4 months of that CLD/APR request? The CSR on the line gave me some vague indication that I had a low APR, which I do with a BT offer that runs into late 2016, but apparently that open BT APR wasn't the deal killer.

 

End of September, I'm calling again to see if I can get the 18.24% reduced.

 

2015 APR Request Denial Letter.JPG


Damn. you would need to speak with Eo. Technically. it is a cld. But you knew that a year ago. Im just wondering how did you get temp cli in the first place? i guess. you wait it out. and try again. this is weird to say the least.

Message 2 of 9
bengalikejenga
Regular Contributor

Re: Discover APR Reduction Denial Letter

You denial letter sounds like a Catch-22.... you cant get a an apr reduction because your limit was CLD, 

even though the CLD was due to a previously agreed promotion. hmmmm. 


Ex681 Tu694 EQ708
Message 3 of 9
HappyCamper123
Established Contributor

Re: Discover APR Reduction Denial Letter

Call recon. Tell them that technically, you weren't CLD. You never really had a CLI to begin with, it was a temporary authorization to exceed your agreed upon $5k line.
Message 4 of 9
score_building
Senior Contributor

Re: Discover APR Reduction Denial Letter

A card holder generally won't be eligible for APRD with an issuer while in a promo period, regardless of the odd denial reason in the letter received.

The irrelevance of the APRD in this instance is all the more reason to wait until after the promo period end date to try again.

Did someone really recommend EO for this, wow, no wonder cap1 shut theirs downSmiley Sad

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 5 of 9
SteelCity66
Valued Contributor

Re: Discover APR Reduction Denial Letter

I'm really curious what you find out, because this doesn't make sense since they gave you a temporary CLI for a year and now they're using that against you for a APR reduction. Head scratcher.

Message 6 of 9
rserla
Frequent Contributor

Re: Discover APR Reduction Denial Letter

This is really a head-scratcher to begin with. Sorry OP that you are caught in what does seem to be a Catch-22 as one of the members stated.

 

How on earth did you get a "temporary CLI"? I had no idea that those even existed. I understand Amex has a "will my purchase be approved" option - where if your limit is say 10K and you need to buy something for 12K it is possible without being declined. But a temporary CLI? Smiley Surprised 

 

Sorry, but this situation kind of bugs me. They gave you that promotion and I am assuming that you were responsible with the LOC. Now after all that they do a CLD, and then decline you APR reduction request based on that same fact!

 

Keep us posted OP. This is just puzzling to say the least. I know that they are the CC provider and can pick and choose their promotions etc. but come on Discover! You have been so good lately lol.

As of 02/01/19:
Transunion: 817, Experian: 822, Equifax : 819
Goal: Maintain 825+ all across
Discover IT: $49,900 ||| Cap One QS VSig: $42,500 ||| Amex BCP: $40,000 ||| U.S. Bank Cash + VSig: $24,500 ||| U.S. Bank Cash + VSig: $19,500 ||| Apple Card MC $13,500 ||| Chase Freedom VSig: $11,000 ||| Barclaycard Arrival MC: $10,700
Message 7 of 9
Existentialist
Frequent Contributor

Re: Discover APR Reduction Denial Letter

Can someone please explain the benefit of a temporary CLI. No... I get the purpose.... I mean the benefit cuz I'm not seeing it.

Message 8 of 9
score_building
Senior Contributor

Re: Discover APR Reduction Denial Letter


@Existentialist wrote:

Can someone please explain the benefit of a temporary CLI. No... I get the purpose.... I mean the benefit cuz I'm not seeing it.


Be a baller, or just look like one temporarilySmiley Tongue

 

but yeah, it's sorta an odd concept, could be called: Planned CLD.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 9 of 9
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