College Card when I turned 18 in 2007...$300 limit 21.55% interest rate (fair enough) and they slowly increased the limit every 6mo...
Last year they "upgraded" it to an Unsecured Card and bumped the limit by $1.5k....Today I have a $5k limit, but its STILL at 21.55%!! Crazy
A month prior to the unsecured card upgrade, I knew I needed an unsecured card so I applied for a 2nd Wells Fargo credit card and got approved for a $2k unsecured at 9.15% interest rate.
I carried a high balance for a while, but paid it down and its small now and I have tried on three different occasions calling up and asking for an interest rate reduction and they have refused.
- I've tried the first tier operators...failed.
- Supervisor 2nd call a month later...failed
- Supervisor 3rd call following month then told him I wanted to escalate it to his boss and he said there was nobody above him (yeh right) and I threatened to close the card thinking that might budge, but he was prepared to close my card!
What's the best course of action here? Clear the balance to $0 and leave it alone? Anything else I can try? 21.55% is insanity when I have ANOTHER CARD with 9.15%!!! I just don't get it??