How can I get my credit card APR lowered?
Author: Guest
Posted: Sat Nov 22, 2003 4:03 pm
....Why on earth is the APR 12.99%. OUTRAGEOUS!!!!!!!! Called retention was told that was all that was available. UNREAL!!! Others here get 9.9 or lower. Can someone tell me after how many months can I get that cut down? Do I have to carry a balance? Use it VEry FREQUENTLY? I need advice on how to use this card to get a lower APR. Credit line was nice so I don't care about that
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Posted: Sat Nov 22, 2003 4:03 pm
....Why on earth is the APR 12.99%. OUTRAGEOUS!!!!!!!! Called retention was told that was all that was available. UNREAL!!! Others here get 9.9 or lower. Can someone tell me after how many months can I get that cut down? Do I have to carry a balance? Use it VEry FREQUENTLY? I need advice on how to use this card to get a lower APR. Credit line was nice so I don't care about that
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posted by CardRatings.com at 10:57 AM
3 Comments:
Author: Guest
Posted: Mon Nov 24, 2003 1:53 pm
Chase gave me 21% APR card but I called them to cancel right after I got it. Finally they negotiate the APR to 11.49.
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Author: willgator
Guest
Posted: Mon Nov 24, 2003 6:31 pm
once you prove to them they can build a relationship with you ...usually 9 months their terms get better boa is a great bank to deal with I have been with them about 2 years and bt's are at prime for life and purchase apr is 5.99% also 38,500cl on priority plat card......
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Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 1753
Location: Illinois
Posted: Mon Nov 24, 2003 6:35 pm
General ideas for improving your relationship and looking prime for lower interest rate will include:
Keeping moderate balances across your accounts, less then 30% but still none the less a balance carried over so that the credit card appriciates the interest earned.
Some had said to periodically charge up high balances and then start paying down again so that you show them you can handle higher debt load but still meet the terms of agreement.
Periodically check back with them say like every 6 months to request lowered interest rate. Might also try request through planetfeedback.com and ask them to reconsider on lowering the interest rate.
Did they give an exact reason as to why you where not elgible for lower interest rate? This was an adverse action, so you should get a letter in the mail with contact information to the CRA they would of pulled through. You can contact them to get a free copy of your credit report.
Have you had delinquincies in the past? Are you currenlty charged up high on other accounts (or this current account)? There could be several reasons here.
I know I am stuck with a cap one card at 15.99% that won't decrease for all efforts. I have always kept a fair balance regularly on this card, but this company just don't have no appriciation... so now I have changed over to transferring and taking the business away from them, to see if they change their tune.
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