Lower APR Request

[wche]

Hi all,

I requested to lower my APR on my citi forward that is currently at 12.24%. This is the response I got from them:

Dear Valued Customer,

We received your request to lower the Annual Percentage Rate (APR) on your account.

We are happy to inform you that we have lowered your APR for purchases to a variable rate based on the 3.250 (prime) rate plus 9.990%, currently 13.240 - TOTAL APR%. The APR will not be updated online until your next statement date.

Please let us know if we can be of further assistance.

I don't follow the credit lingo, but what exactly does that mean? What is my new APR? Thanks!

[Simply827]

It looks like it actually went up to 13.24. I guess their argument is that since it is variable and the prime rate could theoretically go down, you now have a lower rate. If your 12.24% was fixed, I'd go back to that.

[09Lexie]

+1

[Anonymous]

How long have you had the card? The APR automatically gets reduced 2% over the first 2 years if you pay your bill on time each month.

[wche]

I've had it since 2009 and it did go down 2% of the years. So.......should I email back and ask them to bring it back down?! It looks like i did myself more harm than good for asking

[youngandcreditwrthy]

Omg looks like the increases it..

[09Lexie]

Yes, email them and let them know it actually increased. Maybe it's not done manually.
Good luck

[youngandcreditwrthy]

They increased*

[wche]

I just did an online chat with CITI and the rep confirmed my APR is actually lowered from 12.24 to 11.24! PHEW!

[youngandcreditwrthy]

Ohh!! Lol gooood!!!!
Was scared for you for a min!