Discover APR Reduction from 23.49 to 18.74!

Anonymous · ‎02-08-2017

So exactly one year ago today I opened my Discover secured card with $400, unsecured in October to a 1750 CL. I requested two CLIs to where I am now of $9700. Figured since today was my one year mark with Discover, Id try my luck at an APR reduction and sure enough I went from 23.49 to 18.74! A huge decrease! Discover never ceases to amaze me.

UncleB · ‎02-08-2017

@Anonymous wrote:
So exactly one year ago today I opened my Discover secured card with $400, unsecured in October to a 1750 CL. I requested two CLIs to where I am now of $9700. Figured since today was my one year mark with Discover, Id try my luck at an APR reduction and sure enough I went from 23.49 to 18.74! A huge decrease! Discover never ceases to amaze me.

Fantastic! The Discover awesomeness continues!

JustBPatient · ‎02-08-2017

Excellent, Congrats!!

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Anonymous · ‎02-08-2017

Congrats on the APR reduction.

If you are carrying balances, this will certainly be a good thing.

One thing I always recommend to people though is to position yourself so that APR is irrelevant. What I mean is that if you are displaying the credit behavior of a Transactor and paying in full each month, you'll never pay interest so APR won't ever be a worry. Just something to keep in mind.

AverageJoesCredit · ‎02-08-2017

Good point Brutal but to lower ones Apr is always a credit worty goal. Well done Op

. Gotta remind myself to try this in November after my first year

Anonymous · ‎02-08-2017

I haven't paid a cent in interest since I started rebuilding in late 2014. This is just something to bide the time while I wait for my profile to mature. And in the extremely unfortunate and hopefully never to happen circumstances that I do have to carry a balance, at least it will be with a lower APR!

Anonymous · ‎02-08-2017

Congrats! While PIF is ideal, it is great to have a lower APR. Just in case your car needs $2k in repairs 2 days before your statement cuts and 13 days before your next pay day.

galahad15 · ‎02-09-2017

Congratulations on the excellent lower APR!

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Anonymous · ‎02-09-2017

No offense intended in anyway, but so everyone understands how it really works, that scenario of Just in case your car needs $2k in repairs 2 days before your statement cuts and 13 days before your next pay day. doesn't really work that way.

If you were already carrying a balance, your average daily balance would go up the day the charge posts and it wouldn't matter when your statement cuts. Your paying interest on that purchase until the entire balance is paid in full plus residual interest.

If you are PIF, then it wouldn't matter either because your grace period would get you past pay day in that hypothetical situation. If you purchase on day T = 0 and then statement cuts on day T+2, payday is T+13 it won't matter because the grace period will get you to about T+23-27 (21 - 25 day grace period + the 2 days until statement cuts). The grace period depends on the card of course.

Anonymous · ‎02-09-2017

Congrats on the APR reductions!!!! Hopefully you never have to pay interest but sometimes you might have to carry a balance for a couple of months Lower APR is better!!! Love my Discover!