lower apr/higher limit - success!

Discussion in 'Credit Talk' started by bigboy, May 15, 2001.

  1. bigboy

    bigboy Guest

    wow. just got off the phone with three credit card companies to lower my apr and/or up my limit. within 15 minutes all requests were granted. not one hard inquiry!

    - APR: was 17.4%, now 9.9%
    - Limit: $7600 (no change requested)

    - APR: 9.9% (no change requested)
    - Limit: was $2000, now $6000

    USAA MasterCard
    - upgraded me to a platinum on the spot
    - APR: was 12.9%, now 9.5% for one year;
    - Limit: was $7400, now $15000

    i had no idea a simple call could change so much so quickly. thanks to all for your contributions.
  2. roni

    roni Well-Known Member


    Can you make some phone calls for me..

    That is great news. Congratulations. Good Work!
  3. Jim

    Jim Well-Known Member

    Congrats bigboy!!!

    How long have you had the Nextcard? I just got mine in April. Therefore, I am on teaser rate right now. I want to reduce apr. in 3 months.
  4. Nave

    Nave Well-Known Member

    Just wondering if you could share your tactics...
    Did you call retention? Did you threaten to cancel? Did you simply say "other cards I have offer me higher limits or lower apr's than your card offers me."?

    However you did it, sounds like you did a great job Bigboy!

  5. MikeB

    MikeB Banned

    I hate all of you perfect credit people. You and your high credit lines and low APRs. Disgusting. There is more to credit than just credit scores. Oops, no there isn't, nevermind. LOL

    Just kidding
  6. bigboy

    bigboy Guest

    Re: lower apr/higher limit - succes

    i've had my card since 02/00, so it's been a little over one year. the teaser rate was good, and i never paid attention to what the fixed apr was b/c i typically don't carry balances. when i wanted to help out family by subsidizing a computer loan i started inquiring about the status of my cards. it's then i found out the fixed apr was 17.4% on this card. this seemed way high so i placed the call. the rest you know. :)
  7. bigboy

    bigboy Guest

    Re: lower apr/higher limit - succes

    my bad for not mentioning that in my first post. i called each company asking for their retention department. NextCard customer service handles these request now, AMEX customer service transferred me, and USAA customer service took care of the request themselves.

    as for tactics or explanations, none of the companies asked for reasons. with NextCard i simply inquired what my current APR was, asked if they could lower that to 9.9%, and they approved right away. AMEX asked what i would like my limit to be, so it's possible i could have qualified for an even higher limit. as for USAA, i also simply requested a 9.9% and a line increase, both of which they approved without further ado.

    i realize this can't be the norm, so i must either have really good credit or i lucked out with the particular reps. regardless, i wouldn't even have known that apr's and limits are negotiable were it not for this board. again, many many thanks.
  8. miles

    miles Well-Known Member

    Re: lower apr/higher limit - succes

    Great job. Way to go!!

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