How do you guys usually ask for lower APR?

[Techno]

So i just called about all my cards (more than 10) to check if i can get lower apr, my scores are 752 740 732

i was able to get a decrease from discover and thats about it, still waiting for a response from wells fargo, iv'e never asked for increases, had my accounts open for 2 years, most of them sitting at around 20-23%

how i did it:

i called regular CSR, asked if i am eligble, it's pretty much a yes or no from there.

do you guys usually ask speak to credit analyst and try negotiate it with them?

Not as popular as increases here, and most of you guys PIF, but i'd rather have most of my cards as low as possible on the APR scale (aiming for 15.4 Avg, sitting on 19.99% avg). almost all of them are rewards card and i am sure it has an important role on APR.

tips would be appreciated.

Also for people carrying cards for over 5 years, how often your creditors lowered your APR on their own?

[NRB525]

It seems only Credit Unions do a regular APR reduction.

AMEX may give APR reductions. Discover seems to be able to, on a step-wise basis over time when the cardholder asks.

Often the only way to get a better rate is to app a new card after your scores have improved. you may be almost to the level where that would make sense.

However, many reward cards are going to a single APR rate, variable, such as 15.99% or 16.99%, though they are less than 20% so you may not have any of them yet, and you may prefer not to pay the AF.

[newhis]

From what I read, it all depends on the lender. Some will lower the APR and some will not.

I was able to lower my BoA card by calling a credit analyst, no go with regular CSR. Chase Freedom is not possible, got the card and after 2 months I got pre-qual with lower APR, asked if they can lower it and they say they can't, I'll need to close the card and apply again. Discover told me that I had the card for less than a year, they told me to wait a few more months and ask again.

[TiggerDat]

I have never actually spoken with an analyst to ask for a lower APR, or I don't recall doing so.  I have asked and some have simply given it.  The easiest was Comenity, they lowered my APR twice to what they tell me is their lowest limit.  I am certain they were more than willing to do so, since I PIF.  I also didn't really use the card much either, which I think also helped.  I think the easiest way for the banks that will do it without speaking with an analyst is to PIF, so it looks like it is unlikely they will get interest.  I also have two cards which do have a steady balance on them which revolves, so I know they can see this on my report.  (I loaned those accounts out to my niece and sister, so when I say I PIF, I do, they don't.  I won't actually loan them money, I would feel bad charging them interest, but I don't mind if my credit card does!)

I seem to bet BT offers with low or 0% interest, I think that is partially because they know I do have this revolving.  So if you can BT for a lower amount, it might be worth it and also help with later asking for a lower APR on regular purchases. 

If you have a CapOne card, they seem to only make short term offers for lower APRs.  I always take them, even though the cards get PIF, just to let them know I would prefer to simply have a lower APR.  I have been success on getting lower APRs on at least four cards, so not too bad. 

I did have at least two banks tell me that in order to qualify for a lower APR it would require a HP.  I always reject HPs.

[mikelo22]

Depends on Lender. Discover will if customer initiated. Chase is notoriously against allowing APR reducations and I'm not exactly sure why. And from my experience, Citi will as well.

I got an APR reduction on my Citi DC. I got accepted with a 22.99% APR or whatever and I reconned immediately. Basically said it was ridiculous that I would get such a high APR and I mentioned my APR on my Forward, which is 17.24%. Said that I had been a "loyal" card member and would really appreciate if they would see about beating my current APR on the Forward. CSR agreed and got it down to 16.99%. Didn't have to escalate.

So I guess I pretty much handled it the same way I would if I was asking for a CLI. I've heard many stories on here of people asking for a CLI and when the Lender could not comply, they would offer an APR reduction as a consolation prize of sorts.

[Anonymous]

None of my APR has lowered on my older cards. Probably because I carried a high balance all the time up to last month when I PIF everything. I guess you really have to ask them.

In the same boat as the OP.

I am going to ask for an APR decrease on all my cards at the end of the month. Most of them are around 20%, I want to get it down so my average apr is at 15%.

Keep us posted if you get your other cards' APR decreased

[lhcole77]

I'm a big fan of getting APRs lowered. Easy peesy with AMEX and BofA. Took a little bit with Barclays. WF won't budge. Citi will review every 6 months...blah blah blah.

I've either contacted CSRS via online chat or phone call. (Also a huge fan of online chat)

And I just say, "I would like to know if I'm eligible for an APR reduction please."

[masscredit]

This is something that I've been thinking about.  My best APR is on my Cap 1 Venture card. That is 14.9%.  My Quicksilver is at 19.9% so I might ask if they can match the Venture card when I call for a CLI next week.  Looking at my Barclay's cards, my Rewards card is 22.9% and 18.9% for the Apple Rewards card.  I might try to see if they can lower both or at least have both of them at 18.9%. I try not to carry a balance anymore but it's nice to have a low rate if I want/need to. 

[chwebb1]

For BoA, I had to call a credit analyst and said something to the effect of "I wanted to see if I could be granted an APR reduction". After a couple of minutes, my BoA cards were reduced from 19.99 to 12.99% (Cash Rewards) and from 18.99 to 11.99% (BBR). Easy peasy.

With Discover, I just called and asked. They gave me a reduction from 18.99% to 17.24%, which is really high for me. I'll be harassing them again 6 months when my last APR reduction was (December 2014).

I already have the lowest APRs offered with Barclaycard (8% on the Ring, 13.99% on the Sallie Mae).

With AMEX, I asked via chat. They gave me an APR reduction from 17.99% to 14.99% on my BCE. I'm aiming to get this down to at least 12.99%. I'll be chatting with them when my 0% expires on my Blue Sky.

With Citi, I believe that I called them up (Regular CSR). They went from 17.99% to 15.99%. I'm aiming to get this down to at least 12.99%.

[Anonymous]

"HI Bank. Can you lower my APR? Thanks"