How is Chase with lowering APRs?

kdm31091 · ‎01-13-2015

I have done a search on this topic and most of my research points to "no", but I figured I'd ask. I have a Chase Amazon Visa that I just got in December. However, my score was artifically lowered at the time because I had a few new inq's/accounts. It has gone up about 30 points on each bureau since then, also because I paid off my Discover balance.

How is Chase with lowering APRs? They gave me 22% on the Amazon, which isn't a huge deal as I don't tend to carry balances anyway, but it still sucks if something happens and I have a balance. If I call the Chase EO, will they possibly lower it since my score has gone up? I don't really want a new HP. If they won't do it right now, which would be understandable, do they typically do these things after you've shown a good history with their card? I can understand if they wouldn't do it right away, but hopefully they eventually could. I haven't really heard of many people getting their APRs lowered, however. :/

Membersince2013 · ‎01-13-2015

Eh...Not gonna happen.

kdm31091 · ‎01-13-2015

Yeah, I called them and they basically said no. She told me they "periodically review accounts" to lower APRs, but she can't even say when it would happen. I told her I understand it's a new account. I am little surprised they don't give a timeframe, i.e. "review accounts every 6 months", but hey, it is what it is I don't plan to carry a balance anyway

Membersince2013 · ‎01-13-2015

Yup.. Chase is difficult like that.

thelethargicage · ‎01-13-2015

You want a lower APR from Chase? Cancel your card and app for it again. That's what I did with my Freedom and it went from 22.99% to 13.9%. It's the only way.

kdm31091 · ‎01-13-2015

Well I've only had it since December, so I doubt they'd give me a much lower rate right this minute, but maybe I will try that later in the year.

Can I apply for a new Amazon Visa, then move the limit from my old before closing the old? Even though it's the same exact card type?

Callandra · ‎01-13-2015

I don't think Chase will allow you to apply for the same card again (you'll probably get an error/may not pull your credit due to already having the card) but if it works, let us know! You're probably better off cancelling it and then re-applying.

Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500

Last HP: 9/27/2015

Anonymous · ‎01-13-2015

@kdm31091 wrote:
Yeah, I called them and they basically said no. She told me they "periodically review accounts" to lower APRs, but she can't even say when it would happen. I told her I understand it's a new account. I am little surprised they don't give a timeframe, i.e. "review accounts every 6 months", but hey, it is what it is I don't plan to carry a balance anyway

Citi Bank is just as hard. They have never lowered my aprs and always said, "we review all accounts every six months and if a reduction is inorder you will see it." Yeah right about like Chase. The only apr reductions I have ever had is from Cap1. Oops, Chase did lower my rates on a card once from 12.9% to 9.9% apr back in 2010. In short, based on my own happenings and those I read about the odds are slim.

kdm31091 · ‎01-13-2015

Ugh. It kinda sucks. I think after you've improved scores they should be willing to lower your APR.

lg8302ch · ‎01-13-2015

I can feel you... Chase gave me 22,99% on my Freedom with 790 Fico (2 years old now)...it is by far the highest APR. First I was frustrated but now I am just shaking my head and smile at that record high APR ... you will get used to it and if Chase does not want a dime in interest...fine with me. All other cards are sooo much lower so if I would ever carry a balance then others will get my business.