How to lower your APR on Gordon Jewelers credit card account

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
4 posts
swivvler
 
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Location: Texas

How to lower your APR on Gordon Jewelers credit card account

Postby swivvler » Tue Jul 16, 2013 12:53 pm

I had purchased a diamond necklace for my girlfriend at Gordon Jewelers. It was a location in TX and I decided to go with their in store credit card financing offer of 0%. It turns out it was 0% deferred and because I still had a debt on it after the 12 months I got hit with the deferred interest.

Now I am paying a 28.99% rate and that is too much.

1) Do you think I can get a significantly lower interest rate if I ask?
2) Even though this is an in store card can I move the debt to another card with a transfer offer?
3) If yes to 2, Citi is the bank behind Gordon Jewelers credit card. Can I move the balance to my other Citi card that has a lower rate?


takeshi
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Postby takeshi » Tue Jul 16, 2013 4:53 pm

Always read the fine print. It's typical for the cardholder to get hit with the deferred interest if the promotional 0% APR runs out and there is still a balance.

swivvler wrote:Do you think I can get a significantly lower interest rate if I ask?

https://creditservices.gordonsjewelers.com:8443/
As of April 1, 2013, APR for general purchases: Variable 23.73% to 28.99%


swivvler wrote:If yes to 2, Citi is the bank behind Gordon Jewelers credit card. Can I move the balance to my other Citi card that has a lower rate?

Check with Citi. Lenders generally don't seem to allow balance transfers from one of their products to another of their products.

DavidNY
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Postby DavidNY » Tue Jul 16, 2013 9:48 pm

You can write a Citi BT check to yourself.

adriangonzo
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Postby adriangonzo » Fri Jul 19, 2013 2:13 pm

The way I look at it you have 3 options. First is to obviously pay it off ASAP. Easier said then done, I know. But if you have any savings or cash you're holding out on, now might be the time to use it if you can afford to without depleting your emergency fund. 2nd option would be a balance transfer as already commented about. Despite being a store you should be able to transfer from your Gordon Jewelers credit card to somewhere else. That is what I would do if I didn't have the money to pay it off. 3rd is to do nothing and keep paying at almost a 30% rate and that I would not advise!



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