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Discover Current Balance & Statement Balance

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Established Contributor

Re: Discover Current Balance & Statement Balance

I am going to give Cap 1 a call and try to beg for an APR rate reduction. Hopefully they pull through even if its for a couple of months. I truly only need the reduction for the next 2 months lol

Any experience with requesting an APR reduction?
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 11 of 43
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Valued Contributor

Re: Discover Current Balance & Statement Balance

Yes I asked once in 2017, was told apping for a new card is the only way, Cap One and APR reductions don't mix, doesn't hurt to ask though.
Message 12 of 43
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Established Contributor

Re: Discover Current Balance & Statement Balance

Aw man 😐

I will try and also ask what date I will be eligible for an upgrade to my accounts.
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 13 of 43
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Super Contributor

Re: Discover Current Balance & Statement Balance


@CivalV wrote:
I am going to give Cap 1 a call and try to beg for an APR rate reduction. Hopefully they pull through even if its for a couple of months. I truly only need the reduction for the next 2 months lol

Any experience with requesting an APR reduction?

I get them every time I ask for one. 4% discount for 7 months. It’s not much but it’s something. 




Message 14 of 43
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Valued Contributor

Re: Discover Current Balance & Statement Balance


@Saeren  : wrote:

@NRB525 wrote:
The whole pay-before-Statement-cut is overrated. Don’t fall for it month-to-month.

It’s not overrated if you are past 28.9%. I don’t even like my cards reporting over 8.9% which is my personal comfort level but <28.9% is a target everyone should have. 


Both are correct depending on ones profile, credit score, personal comfort level and looking at profit numbers.

Having auto-pay and using the float is a financial win however it come with maybe 15-25 point fico swings and if a sudden need for loan not always showing your best.  Controlling utilization is giving up some of the float, however if one sleeps better not being in debt, and knowing they have higher scores, this can be of great value. Scores mean more or less depending on how close to thresholds you fall. For some 25 points means nothing and for others a higher loan rate.  I believe this is a YMMV and depends a great deal on personal comfort choices.

 

@Saeren  : I also control my utilization even knowing I would still be in the excellent scores category with the 25 point loss.  The float is not worth the score drop, or loss of comfort I gain by having my debts paid early.   

Someone has to pay the taxes that let the cards give rewards, points, and Subs.

I leave money on the table for the rest of you. !     Smiley LOL

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k) / US-Bank Cash+ (15k)
FNBO Travel Elite (15k) / Citi Double Cash (20k) / US Alliance 3% (20k)
Ficos : 830 / AAoA : 9 yrs / AoOA : 24 Yrs / AoYA : 0
Message 15 of 43
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Moderator

Re: Discover Current Balance & Statement Balance

If the balance is on Disco card, and there is a sudden need for a loan, they will report mid cycle when asked.
Message 16 of 43
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Super Contributor

Re: Discover Current Balance & Statement Balance


@Kforce wrote:

@Saeren  : wrote:

@NRB525 wrote:
The whole pay-before-Statement-cut is overrated. Don’t fall for it month-to-month.

It’s not overrated if you are past 28.9%. I don’t even like my cards reporting over 8.9% which is my personal comfort level but <28.9% is a target everyone should have. 


Both are correct depending on ones profile, credit score, personal comfort level and looking at profit numbers.

Having auto-pay and using the float is a financial win however it come with maybe 15-25 point fico swings and if a sudden need for loan not always showing your best.  Controlling utilization is giving up some of the float, however if one sleeps better not being in debt, and knowing they have higher scores, this can be of great value. Scores mean more or less depending on how close to thresholds you fall. For some 25 points means nothing and for others a higher loan rate.  I believe this is a YMMV and depends a great deal on personal comfort choices.

 

@Saeren  : I also control my utilization even knowing I would still be in the excellent scores category with the 25 point loss.  The float is not worth the score drop, or loss of comfort I gain by having my debts paid early.   

Someone has to pay to taxes that let the cards give rewards, points, and Subs.

I leave money on the table for the rest of you. !     Smiley LOL


I guess for me it’s much more important to manage my utilization since my scores are not that great. If I wasn’t sitting at 9 accounts added in the last 12 months, I wouldn’t micromanage as much. 




Message 17 of 43
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Established Contributor

Re: Discover Current Balance & Statement Balance

That is great to know! I definitely will not be in need of a loan anytime soon but great information to have for the future.


I was successful at receiving an APR reduction with Cap 1!!

Original APR 26.49
Non-Permanent APR 18.45% for 7 months!
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 18 of 43
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Super Contributor

Re: Discover Current Balance & Statement Balance


@CivalV wrote:
That is great to know! I definitely will not be in need of a loan anytime soon but great information to have for the future.


I was successful at receiving an APR reduction with Cap 1!!

Original APR 26.49
Non-Permanent APR 18.45% for 7 months!

😮 

 

Awesome reduction! They’ve never offered me anything that nice, congrats!




Message 19 of 43
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Established Contributor

Re: Discover Current Balance & Statement Balance

Thanks!! I was not expecting any offers haha

I also asked when I would be eligible for another product change. Rep stated there is no time frame but to keep calling in or check my accont online. Many have said 6 months from the last upgrade so I will check again in February which will be 6 months from when I upgraded both accounts. Hopefully there is a CLI in the near future haha •maybe im pushing my luck there• 😂
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 20 of 43
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