Lower APR Question

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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Whatamuji
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Re: Lower APR Question

Postby Whatamuji » Sat Jun 27, 2015 3:47 am

Thanks for that insight. I'll have to try that and see if it gets me anywhere.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, Chase Freedom Unlimited: 3.2k, AMEX HHonors 5k


Nixon
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Re: Lower APR Question

Postby Nixon » Sat Jun 27, 2015 6:36 am

Whatamuji wrote:Hi guys/gals I was wondering if there is any "rule of thumb" concerning when a new person to credit can expect to receive card offers with lower ranges of APR. And also has anyone had any luck reducing the APR on their current cards?


My half brother's EDP was assigned 12.99% right off the bat.
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kdm31091
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Re: Lower APR Question

Postby kdm31091 » Sat Jun 27, 2015 8:56 am

Nixon wrote:
Whatamuji wrote:Hi guys/gals I was wondering if there is any "rule of thumb" concerning when a new person to credit can expect to receive card offers with lower ranges of APR. And also has anyone had any luck reducing the APR on their current cards?


The "rule of thumb" is that APR is based on a risk assessment of your profile. No real luck or magic involved, it's simple.

You can get it reduced with many issuers over time, though not all (Chase for example will not even entertain the thought).

Nixon
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Re: Lower APR Question

Postby Nixon » Sat Jun 27, 2015 10:10 am

kdm31091 wrote:
Nixon wrote:
Whatamuji wrote:Hi guys/gals I was wondering if there is any "rule of thumb" concerning when a new person to credit can expect to receive card offers with lower ranges of APR. And also has anyone had any luck reducing the APR on their current cards?


The "rule of thumb" is that APR is based on a risk assessment of your profile. No real luck or magic involved, it's simple.

You can get it reduced with many issuers over time, though not all (Chase for example will not even entertain the thought).


Even though his profile is newish, I guess he scored well enough.
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rockyrock
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Re: Lower APR Question

Postby rockyrock » Fri Nov 20, 2015 8:54 am

Citi just lowered my DC to 0% for 12 months. I did a BT when I opened it and hadn't paid it down as much as I had hoped by the end of the period. I got notice it went up to the standard rate so I called and they offered to give me 0% for the next 12 cycles. Not just on my current balance but all new purchases as well...I don't use the card at all as I'm just trying to pay down the org BT.
Sapphire Reserve: travel & dining
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else

Nixon
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Re: Lower APR Question

Postby Nixon » Fri Nov 20, 2015 9:00 am

rockyrock wrote:Citi just lowered my DC to 0% for 12 months. I did a BT when I opened it and hadn't paid it down as much as I had hoped by the end of the period. I got notice it went up to the standard rate so I called and they offered to give me 0% for the next 12 cycles. Not just on my current balance but all new purchases as well...I don't use the card at all as I'm just trying to pay down the org BT.


Odd that Citi would go for it, You must have a pretty good credit profile or longtime standing.
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rockyrock
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Re: Lower APR Question

Postby rockyrock » Wed Dec 09, 2015 8:34 am

Nixon wrote:
rockyrock wrote:Citi just lowered my DC to 0% for 12 months. I did a BT when I opened it and hadn't paid it down as much as I had hoped by the end of the period. I got notice it went up to the standard rate so I called and they offered to give me 0% for the next 12 cycles. Not just on my current balance but all new purchases as well...I don't use the card at all as I'm just trying to pay down the org BT.


Odd that Citi would go for it, You must have a pretty good credit profile or longtime standing.


I'm not sure what it was. I had only been a customer for 21 months at this point. My credit is in the mid-700 range and I had even been late on a payment just a few months prior. Whatever the reason, I'm happy they did it!
Sapphire Reserve: travel & dining
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else



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