Which one is the lowest available rate? The prime is now 6.00% (6.75% before adjustment). Do they really offer a P+0.9% product? That would make their effective APR 6.9%, which seems way too good to be true. Retention, who told me I'd probably be eligible for a lower rate next month, said the lowest right now is P+1.9%. They might have raised the minimum given the recent prime cuts, which made their variable-rate products competitive enough even w/o offering the P+0.9% rate. Saar
I've heard of folks actually getting prime rates, never seen anyone step up to the plate and admit it. I have prime+0.9%, citi lags alot on their rate adjustments, so this month it should be 7.65% apr. The lady was extremely hesitant to give me prime+0.9% , because i had prime+1.9% but if you call and be persistent, you may get what you desire. You may be right on the recent drop in prime rate is causing them to not be so free about their rates.
Thanks, Sam. FYI: Retention agents there have supervisors too, who can override some (not all) of the standard offers made by the computer. During my last call the Retention agent spoke w/ her supervisor. He said he can't lower my rate right now, but given my account status, he said he should be able to force a lower APR in ~30 days, and that I should give them a call at that time. Saar
THE CREDIT CARD COMPANIES ARE CLUELESS...I KNOW I SPEND MORE WHEN THE RATE IS LOWER THAN WHEN THE RATE IS HIGHER... I would spend MORE @ PRIME + 0.9%...than I would @ PRIME + 1.9%... IF THEY WANTED A LOT OF BUSINESS...TRY PRIME MINUS 3.00%...
Saar, Which Citi credit card product do you have? I have a Platinum M/C that's 11.9 now and I'd love for them to re-price it. Prime + 1.9% is do-able, eh? RM
platinum select m/c. As long as your internal score is exceptional, and you have a balance , they should work to get your APR % down and variable.
Citibank keeps a score on you. This tells them how good or naughty you have been. The customer service reps are allowed to do things for you based on upon your "score". I don't know much more than that. You might try the citibanksux website for more details. Its not fico, and doesn't have anything to do with your credit score.