Has anyone been successful in negotiating the APR for Department Store cards? (I'm talking about store-only cards, i.e. not the ones with the VISA/MC logo). I wonder if there's really no way out of the 21.6% APR, which means Prime+16.85%. Yikes! Saar
Not with Rich's (part of the Federated Dept. Store company). They have never decreased my purchase apr below 21%. They said that it simply isn't possible for anyone's account to go lower than that.
What you can do is convert some of the big department store cards into store visa cards. The apr. will drop.
For Bloomingdale's, Speigal's and Barney's, I don't use them so I have never asked. For Nordstroms, my rate is prime + 3.9 as of 3/15/00. I use this card all the time and my current rate is around 8.9. KK
SEARS~THEY WON'T WAL*MART~THEY WON'T JC PENNEYS~DIDN'T TRY But my HIGH limit is 9.99% (this is really too high also)
Yes, I have had some limited success. If you count Target Visa - got that down to 9.9% Sears - Premier card - 15.9% (they're doing it as a "test" I was told. All you have to do is ask... or keep calling back until you get a rep. who's in the know) Filenes (May) - nope Macys (FDS) - nope, although the Pres. Club Visa is 15.65%, store account stays at 21.whatever% -mj
