Discover It Apr Reduction

[credit_endurance]

I was coming up on my 1 year anniversay on my discover it and thought I would check and see if they had any offers on a apr reduction. Last years approval came with a counter offer of 23.74 apr which was the highest at the time. So called in and the rep offered to reduce the rate to 18.99 apr not the best but, better than nothing. Asked when I would be eligible to apply for another discover product and she said you are just about on the cusp of being eligible to apply. So my plan would be to reapply for another discover it product and should certainly get a better apr and SL this time around reallocate that limit (if able) to the new card and close the old one. Hopefully get on that super disco train this time around all aborad!

[austinguy907]

You can ask them for APR reductions every 6 months and get down to that 10.74% or whatever it is now.

Apping for another card would limit you to Miles at this point or Chrome.  Miles isn't too bad though if you want to earn 3% for the first year.  Some have reported getting approved for another card and being offered to combine the limit into the existing one or having to wait 90 days to do so.  

The best advice is to setup a monthly bill on it and have it autopay each month to generate actviity and history.  It doesn't take huge spend or anything to grow since I was able to grow mine from $4500 at opening to $48K in a little over a year.  The CLI train seems to be brokedown right now since they implemented a fix on 3/29 for a CLI issue on secured accounts.

[credit_endurance]

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@austinguy907 wrote:

You can ask them for APR reductions every 6 months and get down to that 10.74% or whatever it is now.

Apping for another card would limit you to Miles at this point or Chrome.  Miles isn't too bad though if you want to earn 3% for the first year.  Some have reported getting approved for another card and being offered to combine the limit into the existing one or having to wait 90 days to do so.  

The best advice is to setup a monthly bill on it and have it autopay each month to generate actviity and history.  It doesn't take huge spend or anything to grow since I was able to grow mine from $4500 at opening to $48K in a little over a year.  The CLI train seems to be brokedown right now since they implemented a fix on 3/29 for a CLI issue on secured accounts.

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So discover won't allow 2 of the same products? I was hoping to grab another discover it with better SL and apr. Just from some reasearch it looks like ones with higher SL approvals got in on those "bigger" Cli 's . And the ones like myself with tiny starting limits only get the $500 a pop increases. But if there has been a fix then it might not be worth re aping down the road.

[dlm0820]

Why would APR rate matter?

[credit_endurance]

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@dlm0820 wrote:

Why would APR rate matter?

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The less you pay on purchases and if carrying a balance the less interest you will pay.

[austinguy907]

APR stalking is like CLI poaching.  They itch the scratch and also let you know where you stand with them as your profile improves.  It's not that big of an issue when you PIF all the time but, if you ever do have to carry a balance and aren't under a 0% 12 month purchase/BT promo it might come in handy.  

[dlm0820]

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@credit_endurance wrote:

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@dlm0820 wrote:

Why would APR rate matter?

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The less you pay on purchases and if carrying a balance the less interest you will pay.

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You took my post literally.  How nice.

[dlm0820]

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@austinguy907 wrote:

APR stalking is like CLI poaching.  They itch the scratch and also let you know where you stand with them as your profile improves.  It's not that big of an issue when you PIF all the time but, if you ever do have to carry a balance and aren't under a 0% 12 month purchase/BT promo it might come in handy.  

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Unless you have a 0% promo you should always PIF.  If you always PIF, who cares what APR they are offering you.  You know where you stand as far as your profile is concerned.  And if you don't, then you have some serious reading to do and don't belong with cards in the first place.

[Reighn9]

I asked Discover for an APR reduction after 2 years, no late payments, always paid more than minimum.  They reduced it from 21.99% to 16.99%, but here's the catch-the reduction is only for 1 year and the card is now limited.  The CL is the same but there is no available credit.  After 1 year the APR reverts to current APR equal to the former APR and if all payments were made on time charging privileges will be restored.

[AverageJoesCredit]

5 point drop is awesome 1st request. If you wanted another Disco, why not go for a Miles card to get the double cash back again since its a new line and different product and just keep aging your current Disco and keep asking for apr redux every 6 months? I understand the Miles is like a travel card but doesnt necessarily have to be used that way.