I have never paid a credit card bill late. I wonder if it's possible to raise my APR. I'm sure Citibank would like that. Has it ever been attempted?
2006-07-23 18:15:08 · 4 answers · asked by presidentrichardnixon 3 in Business & Finance ➔ Credit
I'm not actually going to do it (probably). I'm just curious. Is it even possible?
2006-07-23 18:25:40 · update #1
Are you talking about raising your credit limit and/or lowering your APR?
If you have had the card for more than 4 to 6 months, it wouldn't hurt, except for them pulling a hard inquiry, to ask for a credit limit increase and a lower interest rate.
If you have had the card for awhile with no credit increases, or interest rate decreases and you have kept the card in good standing, (along with the rest of your credit) you may get some good results. But, if the person you speak to says no, ask to speak with a supervisor or a credit analyst.
2006-07-23 18:48:51 · answer #1 · answered by echo 7 · 0⤊ 1⤋
Why? Don't you mean lower your APR? And yes you can lower it. They will try to tell you no so then ask for customer retention, tell retention that unless your APR is lowered you will be cancelling the card because your bank or another company offered you a much lower rate. Stand tough we even actually cancelled a few and had them send us letters to restate us at much lower rates.
2006-07-23 18:47:20 · answer #2 · answered by pcb4sale 1 · 0⤊ 0⤋
Easy: start making late payments. You'll see your APR jump very quickly.
2006-07-23 18:57:12 · answer #3 · answered by Joe T 2 · 0⤊ 0⤋
Why on earth would you want to do that?
You could just find a usurious company that charges a high rate if you want one.
2006-07-23 18:19:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋