I received the following email response from Citibank in regards to my APR reduction request. My current rate on the Platinum Select is around 15% (variable). Has anyone received a lowered APR, and, if so, how?? Citibank's reply: We apologize for the wrong information you received from a previous rep. that stated Citibank can lower APR's From time to time we do offer promotional rates for balance transfers and to generate new business. We are sorry but we are unable to reprice your account. This account currently has the lowest rate we can offer.
Did you request this reduction via e-mail? You may want to try a phone rep b/c if it can be done, they can do it right there (supposedly). Then call back the next day to confirm that the change has been made. I just got prime+2.9 last week, and the rep said it should be reflected on my January statement. I'll watch and see if they follow through.
Called rep, said my acct is prime + 7.9% and that is the lowest they will offer to anyone under any circumstances, except a promo balance transfer. I asked for a supervisor and they said no supervisor is availble...sorry. What gives???
Sorry, NiceGuy, I don't know what to say. Were you ever late on the account? That may be it, if so. Alternatively, you can ask to be transferred to retention (you may need a zero balance to qualify, but it won't hurt to ask anyway) and then negotiate with them for a lower rate. That's bizarre.
I, too, have been surprised at the inflexibility of Citibank after reading complimentary accounts from other posters here. They refused to consider lowering my APR, denied me a CL increase and stated that I wasn't qualified to speak to retention. And I have a clean record with them, and on my credit report. Luckily, I have options, and after the 0% rate is up in June, will probably move my balance, if any, to a lower rate card than tne 13.49% currently on Citi. It's been a huge disappointment, because I was so excited to get my Plat. Select. These darn CC companies will break your heart every time .
Niceguy, How long have you had the account? I was able to reduce apr to P+2.9 after 3-4 months, and others have had similar success. I think the trick is having the account open for some time, and having a small balance when you ask. If you have a large balance then they might figure you are in their pocket anyway. There's a creditnet saying that goes: The only time you can get credit is when you don't need it (don't remember who first coined it). If you can BT the ballance away from the card when you ask, it might help. -Roman
WOW! I finally got success...called back after two more reps said the same thing, and the third rep happily transsfered me to the supervisor (who 10 mins before didn't exist). The supervisor reviewed my acct and said they would lower to Prime + 3.9, still not as low as others, but better than Prime + 7.9!!! I guess perserverence pays off. Oh, and, no, I was never late on this acct (open for 5 years+)...
Roman, $0 Balance (paid off in 5/01), haven't used since, cusotmer since 10/96. I'll try to negotiate that other 1% now that they loweed to P+3.9. Thanks! NiceGuy
you gotta talk to "r". You have an internal score, and apparently that score means all the world to what they can and can't do. Ask them what they think of your "score" sometime. I've had a couple of reps say "wow your score is high"..
They lowered my rate for a couples of times already for all my Citibank cards on the phone. They haven't lie to me so far. Citibank Click Credit 7.15%. Sony Citibank Platinium Select 12.40% Citibank Dividend Card 11.40% Ron.
