HOME DEPOT APR REDUCTION

[Anonymous]

They raised my rate to 24% so I went on a mission to get the balance low , and I requested a APR reduction as soon as I got my balance down to under $10.00  The response i got was " sorry we cant lower the APR because of economic trouble". I threatened to use Lowes instead. What is the best way to handle this request?  

[Woolfman]

Chances are they dont care and wont budge. Best way to handle the situation is , If you use the card PIF . Otherwise sock drawer the card and Use another card.

[Anonymous]

I understand ... I figured with a 6.00 balance and damm near all of my CL untouched you would think they try to be more reasonable.

Its cool Im going over Lowes

[Anonymous]

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@Anonymous wrote:

I understand ... I figured with a 6.00 balance and damm near all of my CL untouched you would think they try to be more reasonable.

Its cool Im going over Lowes

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I'm with ya!  In fact DH is at Lowe's at this very moment spending about 1500.00 (cash) while my HD card is at -0- balance and sock drawered.  They can either gimme the dang GW or I'll spend my money at Lowe's!! 

D-R

[marty56]

Unless you get a 0% deal, the Lowe's card would probably have the same high interest rate.  Best to PIF unless you can get a 0% deal.

[Anonymous]

Ohh I'm going for no wooden nickels here... I want all the goodies ...Im at a 745 and I want to be treated that way.....

[Anonymous]

Lowes is only offering 6 mos interest free  standard APR is 22%

 These  cards are just screwing people left and right.... Home Depot

sock drawer status .  --until Lowes has get a better offer  im stuck but not payin those interest charges....

[marty56]

IMHO if you revolve a balance these days you are just asking for AA regardless of your credit score.

[GregB]

I don't think there are any reasonable standard interest rates from either Lowe's or Home Depot. I have both business and personal accounts from both. They are all silly high.

They both offer extended terms regularly such as 0% 1 year. Having an account there to get the promos is the only reason to have the cards.

My Lowe's Commercial account shows 21% and it has been used for large business purchases and always PIFed. My other accounts for the same business are all under 8.5%. I checked with a customer that spends $10-40K per month at Lowe's and their statement shows 21% also.

Their goal seems to be to sell stuff not charge interest. Of course, if someone is silly enough to pay their extortionate rate, they won't argue.

[Anonymous]

Well PIF isnt always an option for everyone. In a perfect world we would all be able to keep zero balances on all cards at all times, however if you work have a home a job and or children you have a myriad of different responsibilties and juggling them all can get hectic so there may be a balance or two on a few different cards.....

With that being said my 6$balance is now 0 forever with Home Depot .....