Discover APR decrease

[Anonymous]

Well, I'm proof that if ya ask, sometimes you will receive.

Got the the chat with Discover card to see if I was eligible for a decrease in my APR.  ( I was sitting at 23.24% )  The lady told me I had two offers on my account.  A) 0% for 12 months, then a return to "normal".... or B) A perm reduction to 18.24%, effective within two days.

Of course i chose the perm reduction.... Although i seldom carry a balance on this card, it's nice to know i'm finally below 20%.

[Anonymous]

Congrats, hopefully ill get my deduction soon as well

[UncleB]

This is a fantastic data point... thanks for sharing!

Oh, and congrats on a fantastic rate reduction! 

[Themanwhocan]

I chated earler today. They said you have to wait 6 months between APR reduction requests. Thats ok, I can wait another 2 months

Just FYI

[Anonymous]

That's awesome to know.  As my credit continues to improve, hopefully I'll be able to get it reduced again in the future.

[Kevin86475391]

Nice, congrats!

Discover is awesome about this type of thing!

If people are interested in more data points a couple of years I called them and was given a similar offer: 0% for 12 months then back to my original or a permanent reduction of about 0.5%-1% (it's been awhile so I don't remember how much exactly). I too took the permanent offer. Then last month I called and asked again. This time I was offered a temporary 3% APR for a year or a permanent reduction of 3%. Once again I took the permanent offer. I thought it was odd my other choice was 3% temp this time instead of 0% temp - not as good obviously - yet my permanent reduction rate offer was much higher this time.

For reference I've never paid any interest at all to Discover. I've always PIFed. I just want the lowest APR possible just in case. I'm at a permanent rate of 14.49% now.

[Anonymous]

so it's really possible with discover to have another 0% apr on PURCHASES after your 0% intro apr lapses??? 

[JSS3]

Yes. Discover will at times give another 0% APR period after intro is up. They offer that or lower APR.

[UncleB]

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@JSS3 wrote:
Yes. Discover will at times give another 0% APR period after intro is up. They offer that or lower APR.

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+1

I admit when my times comes if I'm offered either/or, I'll have to look long and hard at having another 0% for 12 months.  While I don't usually carry a balance, it sure is nice to be able to let a small balance "slide" for a month or two before PIF and not having to worry about interest charges.

Decisions, decisions... LOL

(I'll also add that having a 0% promo is the perfect time to do a 0% balance transfer, since you can still use your card for new purchases at the same time as paying down the BT without having to worry about interest on the new purchases, which without a 0% purchase promo can't be avoided...)

[Anonymous]

I too recently got the same reduction you did.  However I had no idea there might have been an additional offer of 0% interest.  I can always get the interest reduced later, I think I would have gone with the 12 mos of 0%.  Maybe next round they'll present that offer (my goal is to get to 11.99% eventually which is their lowest).  Congrats on the reduction!