Discover not offering rate reduction

[MB2714]

Hello my DW has a Discover and is carrying a balance when she contacted them about it they said they no longer offer rate reductions on existing balances, only on balance transfers and they are limited or unless you are having a financial hardship in which case they restrict the account, she declined because we are not experiencing a hardship. I am not sure if this is entirely correct can someone confirm. Just as a side note she has a AMEX with a balance and they gladly reduced her to 14.74% variable which they stated that is their lowest non promotional long term rate offered at AMEX. Is their a reason Amex still does rate reductions but Discover is claiming they no longer do.

[FinStar]

How long has your DW had the Discover CC? What's the current APR? IME, they were able to reduce the permanent APR when I contacted them around April. The CSR also offered a promotional 0% BT and purchase APR for 12 months.

Maybe someone who has had recent success with a permanent APR reduction can chime in.

[MB2714]

She’s had it around two years and her current APR is 18.74. She doesn’t owe a lot but it’s the principal and we both thought maybe the representative didn’t know what they were talking about so we were thinking about asking again in a month or so. She did contact them on Chat, would phone contact maybe have a different answer we’re thinking.

[FinStar]

I would suggest calling them.

Of noteworthy, it may be possible (depending on internal score, etc.) that the account may not be eligible at this time. Worth looking into down the road, though.

[MB2714]

Thanks

[Artemis092]

I called in August 2017 to try to have my rate lowered and was offered a 12 month 0% promotion which just ended. I don't know if they still do that or not.

[Anonymous]

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@Artemis092 wrote:

I called in August 2017 to try to have my rate lowered and was offered a 12 month 0% promotion which just ended. I don't know if they still do that or not.

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They do. So I 've recently read.

[NRB525]

OP, if DW has a regular carried balance, with the 18% APR, that is probably the reason. If DW was on a Balance Transfer, that likely changes the possibilities.

I have a balance on a 0% BT, and was also granted the 0% on purchases, but my open balance on the card is not at the regular rate. And FWIW, my experience with permanent APR reductions on Discover is not good.

Other than the Discover and AMEX, what other cards does DW have? What is the amount of the carried balance?

[Anonymous]

Update: reading this thread prompted me to log in & request a lower APR for one of my cards -- the other one is new and on the 0% Intro -- and I got the rate dropped from 19.74 to 17.99%. I'm guessing I can't have both cards at 0% but that's just a guess. 

It doesn't hurt a bit to ask. 

[MB2714]

We will contact them again, because our gutt was that the person gave her inaccurate information or an internal Score thing. But she owes combined cards around $3,500 in revolving debt but doesn’t owe on all of them. She has Capone, Discover, Amex, Barclays, Synchrony, Comenity and a Credit Union car loan that is over 60% paid off in three years on a 72 month car loan we pay biweekly. The last FICO Score update from Barclays and Discover showed she had a 729 Score.