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Ideas for getting APR reductions

nursepower
Frequent Contributor

Ideas for getting APR reductions

Now that I'm debt free I'm trying to get hubby debt free. 

 

He will not consider BK and we probably don't qualify anymore any way. 

 

He did get a 0% transfer card from BBT for 4K of it but APR's are Really high. 

 

Any advice on getting them lowered? IE: Who to talk to? How to ask?


BK DC 10/18/18
Walmart $400
Target $500
Playstation Visa $750
Petco Visa ?
Best Buy Visa $2000
Cap 1Quicksilver $2500
Ollo $2700
Kohl's $3000
Comenity $3200
Dell $4000
Skypoint FCU $5000
Last app 6/2/21



Message 1 of 16
15 REPLIES 15
RSX
Established Contributor

Re: Ideas for getting APR reductions

For Discover I logged in and opened a chat with them.  They dropped it 4% by just asking.  

so try the simple way first.  

then phone call the others.  

Dec 16/2019. EX. 721. EQ. 723. TU 746
Dec 29/2020 EX. 729 EQ. 723 TU 746
Sept 9/2021 EX. 734 EQ. 737 TU 746
Inq. EX 5 EQ 2 TU 5 - - CC 4x24, 3x12, 0x6
Amex BCP $32k - Apple GS $17k - BMW/Elan $9k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Boundless $10k - Chase United Club Infinite $26k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $23k - HSBC Gold - $10.5k - Penfed Gold - $12.5k - USBank Cash+ -$24k - HSBC LOC - $13.5k - PenFed LOC - $20k
Message 2 of 16
nursepower
Frequent Contributor

Re: Ideas for getting APR reductions

Is there a certain dept to ask for in the chat?


BK DC 10/18/18
Walmart $400
Target $500
Playstation Visa $750
Petco Visa ?
Best Buy Visa $2000
Cap 1Quicksilver $2500
Ollo $2700
Kohl's $3000
Comenity $3200
Dell $4000
Skypoint FCU $5000
Last app 6/2/21



Message 3 of 16
RSX
Established Contributor

Re: Ideas for getting APR reductions

No. They simply asked what help I needed.  I said the 24% apr was too high to use the card and asked for a lower one.  

they replied and it was done on the next statement.  

Dec 16/2019. EX. 721. EQ. 723. TU 746
Dec 29/2020 EX. 729 EQ. 723 TU 746
Sept 9/2021 EX. 734 EQ. 737 TU 746
Inq. EX 5 EQ 2 TU 5 - - CC 4x24, 3x12, 0x6
Amex BCP $32k - Apple GS $17k - BMW/Elan $9k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Boundless $10k - Chase United Club Infinite $26k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $23k - HSBC Gold - $10.5k - Penfed Gold - $12.5k - USBank Cash+ -$24k - HSBC LOC - $13.5k - PenFed LOC - $20k
Message 4 of 16
nursepower
Frequent Contributor

Re: Ideas for getting APR reductions

Discover is painstakingly slow in the chat. They did offer 18.99% for future purchases. Trying to do something to lower balace as 80% of my payment goes to interest. It's frustrating trying to make headway with the balance. 


BK DC 10/18/18
Walmart $400
Target $500
Playstation Visa $750
Petco Visa ?
Best Buy Visa $2000
Cap 1Quicksilver $2500
Ollo $2700
Kohl's $3000
Comenity $3200
Dell $4000
Skypoint FCU $5000
Last app 6/2/21



Message 5 of 16
RSX
Established Contributor

Re: Ideas for getting APR reductions

Well that is lower than I got, so good work

I understand, it is painful, but as you know each month drops and helps a little bit.

And then the score rises and more opportunities are available.
Dec 16/2019. EX. 721. EQ. 723. TU 746
Dec 29/2020 EX. 729 EQ. 723 TU 746
Sept 9/2021 EX. 734 EQ. 737 TU 746
Inq. EX 5 EQ 2 TU 5 - - CC 4x24, 3x12, 0x6
Amex BCP $32k - Apple GS $17k - BMW/Elan $9k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Boundless $10k - Chase United Club Infinite $26k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $23k - HSBC Gold - $10.5k - Penfed Gold - $12.5k - USBank Cash+ -$24k - HSBC LOC - $13.5k - PenFed LOC - $20k
Message 6 of 16
PutThatMoneyOnTheTable
Established Contributor

Re: Ideas for getting APR reductions

If its BOA, once you get connected to a rep just say "I'm calling to reduce/lower my current APR", and they will place you on hold to see what they can do for you.

 

Please note that for BOA (not sure about the other banks) once you accept the lower APR, as soon as you are charged interest, you automatically go to the penalty APR which is 29.99%

Amex BCP $35k
Chase FU $11.2k
BOA Cash Rewards $35k
Comenity BJs Perks Plus M/C $14k
Cap1 QS $850
(AU), 2020 TU 801, EX 795, EQ 792
INQ ...TU-0, EX-2 EQ-3
Message 7 of 16
nursepower
Frequent Contributor

Re: Ideas for getting APR reductions

We don't have B of A credit cards but thank you for the info. 

 

You know if we ever paid off ALL (hubby's and mine combined) credit cards, I don't know what I would do. I don't know what its like not to owe money. 

 


BK DC 10/18/18
Walmart $400
Target $500
Playstation Visa $750
Petco Visa ?
Best Buy Visa $2000
Cap 1Quicksilver $2500
Ollo $2700
Kohl's $3000
Comenity $3200
Dell $4000
Skypoint FCU $5000
Last app 6/2/21



Message 8 of 16
nursepower
Frequent Contributor

Re: Ideas for getting APR reductions

From the beggining of the year I've paid $992 to Discover and 779$ of it has gone to interest. 


BK DC 10/18/18
Walmart $400
Target $500
Playstation Visa $750
Petco Visa ?
Best Buy Visa $2000
Cap 1Quicksilver $2500
Ollo $2700
Kohl's $3000
Comenity $3200
Dell $4000
Skypoint FCU $5000
Last app 6/2/21



Message 9 of 16
nursepower
Frequent Contributor

Re: Ideas for getting APR reductions

They are offering 12 months @ 17% APR or 6 months at 10% 

 

with charging priveleges suspended for unknown time. 

 

My current balance is $4342


BK DC 10/18/18
Walmart $400
Target $500
Playstation Visa $750
Petco Visa ?
Best Buy Visa $2000
Cap 1Quicksilver $2500
Ollo $2700
Kohl's $3000
Comenity $3200
Dell $4000
Skypoint FCU $5000
Last app 6/2/21



Message 10 of 16
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