Discover APR Reduction Request HP

[Anonymous]

Hello, I’ve been reading all the great posts about chatting with reps and folks getting their discover card APRs reduced.

I tried it yesterday and the rep said I have 2 offers on my account: reduce the APR from 17.5% to 16.49% AND 0 APR for 12 months. However it was mentioned that only 1 offer could be activated per day. With that info I asked the rep to reduce my APR to 16.49% and mentioned I’ll return back after 24 hrs to take the 0% offer. All good until here.

I reached out to discover folks today again via chat and asked them about the 0% APR offer that was on my profile. I was told that the previous rep made a mistake (the chats were saved to my profile as per the rep) by telling me that I could take both the offers, I was eligible for one of the offers and not both of them. Since I already chose the lower APR, I couldn’t get this offer. The agent today was extremely slow in responding to my messages (2 messages in 30 mins). I mentioned it wasn’t my fault, if it had been clearer, I would have opted for 0% for 12 months, is there any way to change my selection. There was no response So I sent another message saying if that’s not possible, could you lower my APR. There was no response whatsoever after that so I ended the chat session.

After about 3 hours I get a document in the inbox saying “thanks for requesting for APR reduction. However we’re sorry to say we cannot reduce your APR at this time” along with a credit report from TransUnion with my latest credit score.

I didn’t consent to any HP. Can they do this? Can this pull be reversed?

[Anonymous]

Did you check your report to make sure you got an HP? An SP gives them your score too, it’s how they update your score with them every month. I haven’t heard of anyone getting hit with HPs.

[Anonymous]

I checked my transunion report just before they sent the email about a new doc 🤦🏼‍♂️ Only way left is CreditKarma that might be updated in a few days.

The reason I think it was a HP is because of the content in the document. The general HP stuff when declined for a new card (balance, length of credit etc.)

[Anonymous]

That same stuff comes through on SPs.

If you had gotten an HP, Credit Karma would have already emailed you and refreshed your report and scores. I would say you’re probably fine.

[Anonymous]

Thanks Saeren.

CK isn’t showing updated data for my account. I recently got approved for CSP and neither the new account/card not the HP is showing up.

[CreditInspired]

Hi OP and welcome to MyFICO

I know this is after the fact but I just want to suggest that in the future, always accept the 0% or lower APR offer no matter what. I’m so sorry for the misinformation you received from the CSR. 

[AverageJoesCredit]

Discover is correct , you cant have both offers at once but you might try again in 6 months to see if you have any more offers. Discover is pretty good on letting you know if a hp is needed so you should be safe. It takes alot to get a hp from Disco post spproval. Not once have i ever been offered the hp route on my million plus times hulk smashing for cli

[Remedios]

@Anonymous  There was no HP 

Because you did not received second APR reduction, you got AA letter (document). 

To stay compliant with FCRA, they must provide you with reasons for such action and CRA used to make the decision. They simply added score from last monthly TU SP. 

Even though decision was not based on CR but on Discover internal policy, they still have to provide it. 

I'm sorry CSR gave you wrong information 

[Anonymous]

I don't think the CSR gave wrong info, I think it was simply misinterpreted perhaps. When I called in, the CSR said that I had two offers available as well. She then clearly ask me if i wanted the permanent lower APR, or the 12 month promo rate. 

I wouldn't call it a loss on your part though, those offers pop up quite often. Now that you have a lower permanent rate, just wait it out until another 0% offer comes along. IMO it's better you got that one done and out of the way, because you cannot get rate adjustments during a 0% promo. 

As for the HP, that as someone else stated is just required paperwork. You shouldn't receive a HP for APR reduction.

[Anonymous]

Thanks everyone. I guess more than the offer, the thought that they did a HP concerned me. Almost 90% of the enquiries on all 3 reports are due to drop off in the next 10 months.