cancel
Showing results for 
Search instead for 
Did you mean: 

Is this a good time to ask for a rate reduction?

tag
Anonymous
Not applicable

Is this a good time to ask for a rate reduction?

With everything thats going on how likely do you think it is that creditors will give you a rate reduction on both installments and revolvers?

11 REPLIES 11
seattletravels
Valued Contributor

Re: Is this a good time to ask for a rate reduction?


@Anonymous wrote:

With everything thats going on how likely do you think it is that creditors will give you a rate reduction on both installments and revolvers?


There was a whole thread the other night with everyone but me getting APR reductions from Citi. 😎



Last App: BECU 02-26-2020
Pronouns: He/Him/His
Message 2 of 12
Anonymous
Not applicable

Re: Is this a good time to ask for a rate reduction?


@seattletravels wrote:

@Anonymous wrote:

With everything thats going on how likely do you think it is that creditors will give you a rate reduction on both installments and revolvers?


There was a whole thread the other night with everyone but me getting APR reductions from Citi. 😎


Woah can you link? Smiley Happy

Message 3 of 12
Remedios
Credit Mentor

Re: Is this a good time to ask for a rate reduction?

If you're asking if the pain and misery humankind is currently experiencing happens to be a good excuse to ask for APR reductions...I really dont know how to answer this question 

 

 

Message 4 of 12
Anonymous
Not applicable

Re: Is this a good time to ask for a rate reduction?

I have ever heard of a rate reduction on installment loans. Usually you have to take out a new loan. Is this something your current lender offers?

Message 5 of 12
seattletravels
Valued Contributor

Re: Is this a good time to ask for a rate reduction?


@Anonymous wrote:

@seattletravels wrote:

@Anonymous wrote:

With everything thats going on how likely do you think it is that creditors will give you a rate reduction on both installments and revolvers?


There was a whole thread the other night with everyone but me getting APR reductions from Citi. 😎


Woah can you link? Smiley Happy


Citi APR Redux 



Last App: BECU 02-26-2020
Pronouns: He/Him/His
Message 6 of 12
Anonymous
Not applicable

Re: Is this a good time to ask for a rate reduction?


@seattletravels wrote:

@Anonymous wrote:

With everything thats going on how likely do you think it is that creditors will give you a rate reduction on both installments and revolvers?


There was a whole thread the other night with everyone but me getting APR reductions from Citi. 😎


I didn't get one either. I even told them I would die from the Coronavirus if I didn't get one. They said it was nice having you as a cardholder.

Message 7 of 12
Anonymous
Not applicable

Re: Is this a good time to ask for a rate reduction?

You're more likely to get one on a revolver due to falling rates if they haven't already dropped your rate 0.5%. Wouldn't hurt to try.

Message 8 of 12
Anonymous
Not applicable

Re: Is this a good time to ask for a rate reduction?


@Anonymous wrote:

I have ever heard of a rate reduction on installment loans. Usually you have to take out a new loan. Is this something your current lender offers?


Sorry I meant an existing personal loan though I guess it will probably be the same?


@seattletravels wrote:

@Anonymous wrote:

@seattletravels wrote:

@Anonymous wrote:

With everything thats going on how likely do you think it is that creditors will give you a rate reduction on both installments and revolvers?


There was a whole thread the other night with everyone but me getting APR reductions from Citi. 😎


Woah can you link? Smiley Happy


Citi APR Redux 


Thanks


@Anonymous wrote:

You're more likely to get one on a revolver due to falling rates if they haven't already dropped your rate 0.5%. Wouldn't hurt to try.


 

Thanks I'll try and report back
Message 9 of 12
althes
Frequent Contributor

Re: Is this a good time to ask for a rate reduction?

Yes it is I asked Navy and got one.

They said I can ask for reductions on my 2 other accounts later in the year and gave me the exact dates to ask.

Message 10 of 12
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.