Rate reduction

[ways2go]

Has anyone ever ask and gotten a rate reduction on their discover card? Or even Cap One?

   I just recently asked Navy Fed to reduce my Apr on my cash rewards.  They gave me a reduction from 18% to 14.9%.  

[CYBERSAM]

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@ways2go wrote:

Has anyone ever ask and gotten a rate reduction on their discover card? Or even Cap One?

   I just recently asked Navy Fed to reduce my Apr on my cash rewards.  They gave me a reduction from 18% to 14.9%.  

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Discover yes, eventually you can get down to the lowest they offer! Cap1 NEVER!

[Slabenstein]

My wife got a pretty large rate reduction on her Disco a few months after opening that card.  It was unsolicited, and I think they dropped her something like 6-8% (can't find any notes to confirm), down to their lowest published rate at the time.

[Creditwiser]

Received rate reductions from NFCU and Barclays .  Both I asked for and granted. 

[Zoostation1]

@CYBERSAM It's been a couple years, but I do have a friend who got their Venture card lowered.  

[SwimGuy]

I ask Discover every year and it drops on avg 1%, have not had any luck with other banks though.

[Bockrocker]

Citi will lower as well.  The first time I asked they said no, second time a year later they lowered my custom cash ~7% from max apr they always seem to start me off with (not sure if this is Citi MO or what).  I think when I thanked the CS agent and said I would try again next year (to reach lowest apr) he told me I could ask every 6 months.  

[keekers]

Discover and NFCU here.

[TrapLine]

Yes, I have obtained reduced interest rates on Discover, Citi Bank and I think Barclays. The rest told me to go blow smoke.

[Alcuria]

Thanks for posting about this!

I called Navy Federal and requested a rate reduction. The nice person said, "I see you've never requested a rate reduction before". She explained that they used to be able to request a RR and get a decision real time. Now Navy Federal sends that informtion to the back office (underwriters?) and I will get a decision in approx 24 hours.

So we'll see how it goes!