Recent APR reduction

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
6 posts
HipHopSays
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Recent APR reduction

Postby HipHopSays » Sun Aug 28, 2011 7:25 pm

I recently noticed both of my Capital One accounts' (Visa & MCard) APR were reduced by 2.00%. I was wondering if anyone else received a similar reduction by CapOne....also I am curious if any of the other credit card issuers have similarly reduced their APR recently. Basically, because CapOne is notorious for being rigid about CLIs and APR reductions the latest reduction leads me to believe there may be a trend of issuers looking to ameliorate America's anemic spending by incentivizing carrying a balance as we head into the holiday shopping season (which I imagine is a big season for credit issuers).


JNK
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Postby JNK » Mon Aug 29, 2011 7:26 pm

The words 'APR reduction' made me cheer and so I couldn't help but go check out my credit cards and see if I had any good news waiting for me.

Here's the result of my little expedition:

- 0.75% on my Citibank (personal, older account, already below prime - w00t!)

Citibank has been steadily lowering my APR, so the decrease isn't particularly surprising and so I can't really say if the card's rate dropped because it simply has been doing so, or if it's because the company is trying to give incentive for spending.
Personal Collection:

AMEX: Everyday (MR), Macy's (cobranded)
MASTER: Citibank Dividend Platinum Select (non-World version)
VISA: Chase Amazon Signature, Chase (bank issued)
GE: Care Credit (medical expenses), Macy's (store), JCP (store)


Business Collection:

AMEX: Costco True Earnings
MASTER: None
VISA: Chase Ink Cash

HipHopSays
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Postby HipHopSays » Wed Sep 07, 2011 12:10 am

congrats on a such a good rate ....

Money card
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Postby Money card » Wed Sep 07, 2011 10:47 pm

To answer your question I have a capitol1 gold. after my fight with chase I applied in august 2010, so I had no interest for the first year. then a month ago I saw on the purchase line it's17.90 percent. i pay my bill in full. but so far my apr is still 17.90 for anybody who doesn't pay in full the apr is 17.90.

To answer your question my apr is still the same.

My Discover is 11.99 that's been the same since I can remember. However I've had this card since 1998.

On my Exxon Mobil charge card my interest is 24.99 and this will never go down. I also pay this bill in full.

DavidNY
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Postby DavidNY » Thu Sep 08, 2011 9:47 am

Money card wrote:after my fight with chase


What was your fight with chase about?

On my Exxon Mobil charge card


Is that a rewards card? I find Exxon/Mobil stations have the highest gas prices most of the time.

Money card
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Postby Money card » Thu Sep 08, 2011 4:59 pm

no sir David, that's the charge card that you can only use at their gas station. I got it in 1994. there were no rewards in those days, so Exxon/Mobil isn't giving any rewards, it's not a rewards card.

I came over from another bank. I started out with first card back in 1995. I was given a gold card with a membership date on the card. in 2001 First card went out of business, Bank 1 took over I always paid my bill in full. in 2005 or 2006 bank 1 merged with chase and I was given a chase platinum card paid my bills in full. around july of 2010 I was sent a letter from chase saying that there changing the cards, they sent me a rewards card instead of my platinum. they told me to continue using my rewards card and they appreciated my business.

they still had my membership date on this card. 2 weeks later I received a chase freedom card. this card was different. they took my membership date of 1995 off the Freedom so I wrote a 3 page letter explaining I want the date on the card. they said with the Freedom they don't put membership dates on the card. when I received the letter it wasn't what I wanted to hear so I called up chase and canceled the card.

Now if it was a membership date of 2004 that I could understand, or if Exxon/Mobil left citibank and the president made changes to the card like a different bank, no membership date on the card. being it's just a charge card you can only use at Exxon Mobil stations I wouldn't care about the 1994 date.

But because this is a major credit card, I came over from another bank I feel the 1995 date should be on my freedom. they have it on the rewards card.



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