Comments on: The Secret to a Lower Credit Card APR

By: Becky

Becky — Sat, 26 Feb 2011 19:46:25 +0000

I just literally called and asked Discover to give me a lower APR. They happily said, “Sure!” without asking questions. I went from 19.24% to 15.24% just that easily. (They also offered a promotion instead of 1% for six months, but I opted for the 15.24% instead.)

I can’t believe how simple it was. You’re right about them getting away with it just because people don’t bother to ask.

By: Tiffany

Tiffany — Mon, 13 Dec 2010 04:20:05 +0000

The CARD Act doesn’t say credit card company’s are unable to increase your APR if you’re more than 60 days late. They can, in fact, give you a written notice if you are 1-59 days late letting you know that the APR on future purchases (after a specified date) will be increased-so the late payment would not affect the current balance but purchases going forward. Facts are important. Especially when giving advice. Try to give the correct ones.

By: monica rider

monica rider — Sat, 02 Oct 2010 21:55:22 +0000

need information on lower apr’s on my credit cards

By: San Diego CA CPA

San Diego CA CPA — Mon, 31 May 2010 17:50:07 +0000

There is no doubt that you can get a lower rate if you follow these steps. Just make sure that you follow through. You can get a lower rate but you will have to work for it. It just comes down to how bad you want it.

By: Lisa of Creditnet.com

Lisa of Creditnet.com — Mon, 15 Feb 2010 10:21:57 +0000

If you’re going to threaten (however lightly) to close your account, be prepared to actually do so. Credit card companies are taking a hit, even beginning to charge annual fees on cards that previously had none. Consumers are charging/spending less, so not only are card companies losing out on interest income charged to the customer but also on fees charged to merchants who accept credit cards. Card companies may not be as willing to budge as they previously were.

There are still credit cards out there offering no interest on balance transfers for up to 12 months. Another option is the good ol’ no interest balance transfer technique.

By: ParisGirl111

ParisGirl111 — Fri, 12 Feb 2010 20:16:41 +0000

Another technique you can use, is to call the credit card company and ask for a hardship program. Let them know you are experiencing financial hardship and they will usually lower your APR for 6 -12 months..enough time to allow you to shop around for another card. I did this with Amex.

By: Lakita (PFJourney)

Lakita (PFJourney) — Fri, 12 Feb 2010 14:16:20 +0000

This is a great story, I wrote about doing the same thing recently with bank overdraft fees.

Personally, I’ve never had to go as far as to write a letter, but now the rules are changing!