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question about credit cards

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DaVortex

Senior member
I know its possible to call up your credit card company and ask for an increase on spending limit. But is it also possible to call and ask for a lower apr %, the reason why I am asking is because I have to make a payment for my college classes and the lower % the less I would be spending.
 
I just did that with MBNA. They said no.
They sent me an offer for the same card I already have but with lower APR so I called them up and asked them if they could give me the lower rate on my existing account.
 
Some companies will. I called up Discover a few weeks ago and asked for a lower APR. They did lower it, but not by as much as I would have liked.
 
Yes, they should comply if your credit is good and you've been with them a while or something. If it comes down to it, threaten to close your account and be ready to close it, but that's when they may cave in. If not, get another card.
 
Really depends on the rate, but it doesn't hurt to ask. Threatening to close the account will usually work - just be prepared to back it up if they don't fold.
 
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