APR Reduction: Citi forced to repay credit-card customers
 

I came across this headline regarding Citi's failing to re-evaluate and reduce annual percentage rates for consumer credit card accounts and it got me taking a serious look at my CC APR's and where they stand versus current new card offers today.

I found my Barclay Aviator Red to be the most concerning as my most recent statement showed my APR as 21.74%, looking back on 3 years of statements it has increased 0.75%/year at a total of 3%.

I called Barclay to ask about how often they re-evaluate card members to determine their APR, the agent did not know the exact answer but offered to see if I was "eligible" for an APR reduction. After a quick review "which she stated would not require a hard pull" came back with a 17.74% rate. She read a brief jargon statement about how you are only eligible for a rate reduction once every 12 months, but according to the story line (link below) it appears banks should be re-evaluating on their own every 6 months?

My question is, how often do you evaluate your APR and take matters into your own hands? And have you found such reductions to impact any other offers or Annual Fee waivers in the past?

https://www.marketwatch.com/story/ci...ays-2018-06-29

Never, because I do not carry a balance. Credit cards, particularly the rewards cards that we tend to discuss here, are a dreadful way to borrow money. However, I note that my Citi Prestige card has an APR of 10.99%. I think my Bank of America Merrill+ card has a lower APR, but I have not used it recently and no statement has been generated.

...And there are also 0% promotional offers for BT and purchases on cards that still have the standard APR.

I don't worry about the rate because I always pay the balance due each month.

Thank you all, I pay in full each month also but I guess its just the mindset of having an 840 score and being given a crappy APR that really rubs me the wrong way. But I guess I wont worry about it.