APR decrease?

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trainypooh
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APR decrease?

Postby trainypooh » Mon Dec 02, 2013 5:51 pm

Has anyone ever asked for an APR decrease with their credit card company? If so have any of you been successful? I would like to about Chase bank and the Freedom card specifically if anyone has any experience.

thank you
My Wallet:
Discover IT - $9500
AMEX BCE - $9000
Chase Freedom - $5000
Capital One Quicksilver - $2700

Future Cards:
Chase CSP


sj632
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Postby sj632 » Mon Dec 02, 2013 6:21 pm

Never even considered it. I would say most would agree with me when I say pay the balance off in full and the APR doesn't matter.

You can try and ask, the worse they can say is no. However I wouldn't waste a hardpull over it.

Userofcards
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Postby Userofcards » Mon Dec 02, 2013 6:49 pm

trainypooh wrote:Has anyone ever asked for an APR decrease with their credit card company? If so have any of you been successful? I would like to about Chase bank and the Freedom card specifically if anyone has any experience.

thank you



I opened my discover card and chase freedom shortly after graduating school, so I had high APRs on both. I've asked Discover to lower my apr: they did: It was originally 20%, after a few years they lowered it to 16% and just a few months ago they lowered it to 10%. No credit pulls -- hard or soft.

Chase won't budge on my APR, which has always been 24%. I've asked several times and their response was "you could close the card, apply for a new Freedom, and since your credit is better you can expect a better APR." I've chosen not to do that.

I pay my balance in full each month, so I don't really worry too much about the APR. But it is nice to know that it is lower just in case I might ever need to revolve a balance for a month or two.

BonusPack
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Postby BonusPack » Tue Dec 03, 2013 12:57 am

Although I don't have a Chase card my mother does and she got the same response. They told her no and to apply for a new card and see what happens. She closed it and got a discover at a much better APR. Unfortunately this response seems to be the standard response they give.

MemberSince99
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Postby MemberSince99 » Tue Dec 03, 2013 6:40 am

Userofcards wrote:I opened my discover card and chase freedom shortly after graduating school, so I had high APRs on both. I've asked Discover to lower my apr: they did: It was originally 20%, after a few years they lowered it to 16% and just a few months ago they lowered it to 10%. No credit pulls -- hard or soft.

Chase won't budge on my APR, which has always been 24%. I've asked several times and their response was "you could close the card, apply for a new Freedom, and since your credit is better you can expect a better APR." I've chosen not to do that.

I pay my balance in full each month, so I don't really worry too much about the APR. But it is nice to know that it is lower just in case I might ever need to revolve a balance for a month or two.



Wow that is pretty lame coming from Chase. Hard to believe any prime lender would actually say that. That's just ridiculous. I think I would have said why don't you close the card for me and I'll start giving my business to a lender who actually wants it - win/win here for both sides. I'm really thinking CSP is going to be gone, and I'm going to move my checking account back to Associated or maybe a credit union. I'm starting to see the folly of "relationship building" with a bank like Chase - it seems to be a total waste of time.

takeshi
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Postby takeshi » Tue Dec 03, 2013 8:14 am

Haven't had much luck with asking. However, USAA recently dropped all my cards by 1%.

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jumbo
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Postby jumbo » Tue Dec 03, 2013 11:08 am

Like Userofcards said: I have been able to lower APR of my Discover from 21.99 to 14.99 with no hard pull, after 2 years of having Discover. But thats about it.
BofA Cash Rewards | CapitalOne QuickSilver | Discover More
Gold Delta AMEX | Citi DoubleCash | Citi Simplicity
Chase Freedom | Kohls Charge Card

trainypooh
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Postby trainypooh » Wed Dec 04, 2013 11:26 am

thank you all for the information
My Wallet:
Discover IT - $9500
AMEX BCE - $9000
Chase Freedom - $5000
Capital One Quicksilver - $2700

Future Cards:
Chase CSP



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