Interesting APR reduction calls

[bettercreditguy1]

After the new banking laws changed, they had to make up for lost income somehow. Thier rebutle was to raise interest rates to offset the reduction in fees they could collect.

[DaveSignal]

I don't think banks, in general, can afford to have low aprs.  They have shareholders to pay dividends to.  The credit unions, however, is where you might find a decent APR.

[Anonymous]

A few others with low rates include USAA 6.9%, Simmons 7.5% and State Dept FCU 6.99% including rewards.

[DaveSignal]

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@Anonymous wrote:

A few others with low rates include USAA 6.9%, Simmons 7.5% and State Dept FCU 6.99% including rewards.

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My USAA card is way more than that at 17.9%.  I did have a lower credit score when I got that card, however.  My SDFCU card is 8.99%.

[ComputerWizMaster]

My Bank of America Upromise card has been @ 9.24% for a couple of years now. I think a lot of banks are going with very high aprs as the new card act makes it very hard to raise rates later.

[SwampSystems]

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@trumpet-205 wrote:

* Chase Freedom - Denied without giving me a reason. Said they will periodically review the account. Stays at 17.99%.

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A CSR at Chase Card Services informed me that this only applies to cards issued prior to the CARD Act of 2009, and that there is no way to change my APR other than to close my card and re-apply. Not certain how much truth there is to this.

[lanc]

I may be lucky but I think with having a diverse portfolio of prime cards theres always a bt offer.  I have Chase Freedom/Discover More/Citi and anytime I've needed to carry a balance I charge it to crap1 1.5% and bt it over and the 2-3% offsets the 0% apr for 12 months.  I keep telling myself I need a low apr card just in case but it seems like theres always an offer available if you don't normally carry balances.

[aloush11]

My friend was in the same situation, they wanted to send a certified letter to Chase in Chicago... I thought it was really odd. I ended up calling The Chase Exc office and they appoligezed alot and dropped the interest from 28.99% (btw was never late and has had the account since 1999!) to 12.99%!!!!

[trumpet-205]

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@lanc wrote:

I may be lucky but I think with having a diverse portfolio of prime cards theres always a bt offer.  I have Chase Freedom/Discover More/Citi and anytime I've needed to carry a balance I charge it to crap1 1.5% and bt it over and the 2-3% offsets the 0% apr for 12 months.  I keep telling myself I need a low apr card just in case but it seems like theres always an offer available if you don't normally carry balances.

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I know that Citi loves to give out BT offer (and sometime purchase offer) if you pay on time.

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@aloush11 wrote:

My friend was in the same situation, they wanted to send a certified letter to Chase in Chicago... I thought it was really odd. I ended up calling The Chase Exc office and they appoligezed alot and dropped the interest from 28.99% (btw was never late and has had the account since 1999!) to 12.99%!!!!

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Interesting info. Will keep that in mind.