I’ve had my Chase rewards card for about four (4) months now, so I decided to call them up to see whether or not they’d be able to reduce my interest rate. It was at a ridiculous 23% At first, I didn’t really mind since I use this card as a rewards card only. That being said, I pay off the balance in full every month.

Now there’s a lil’ catch 22 with whole reward card thing. Since it’s a reward card I want to get the maximum rewards I can. Therefore, I use this card for everything. That makes it a little bit harder to pay off the balance every month. I had to pull some money out of my savings last month to pay it off.

So just in case, I called up Chase and asked for a reduction in my APR. Great news! There was a “promotional reduction available” on my account. So I asked, “What’s the promotion?”. The guy on the phone (Juan I think his name was) told me that today they would be able to reduce the APR on my card to a whopping 21% from 23%.

Yep, that was all there was. A 2% reduction. And the kicker is that I wouldn’t be able to inquire about another reduction for six (6) months. However, if I didn’t accept the incredible 2% reduction, I could call back an inquire about another promotion.

So I decided on the latter. Way to go Chase! Oh well, nothing I can do about it right now. This card gives me 3% on gas purchases and 1% on everything else. The only thing that beats that is their Freedom card (which I’m currently waiting for a reply on).

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