I need your help Banking and Credit Card Guru's!

For just about anything you want to get off your chest about credit cards.
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I need your help Banking and Credit Card Guru's!

Postby sdfinch » Mon Apr 11, 2011 11:39 am

I am creating a eBook on, "How to get a lower interest rate on credit cards". I'm looking for creative ways or techniques to do this.

If you have any good suggestions, ideas or things that have worked for you; I would love to hear them! I going to put all these suggestion in one document and will email them to you when this is done at your request.

Thanks again for your help,


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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon Apr 11, 2011 3:52 pm

Hi Scott, this thread is an oldie but goodie: negotiating credit card interest rates.

But it appears you already commented on there.

From what I have heard in the post-recession era is that banks seem less prone to interest rate negotiation and that often times if you want a significant rate cut the only way to get it is to move the balance somewhere else, whether it be through a balance transfer offer, a lower rate loan, etc.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
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Break up with them

Postby lbrother517 » Sun Apr 06, 2014 3:24 pm

What i mean by "break up with them" I mean Give them the "it's not me, it's you" Routine. While I wouldn't ever recommend to do this with a date... It works really well with credit card companies. Call them up and let them know you would like to cancel your card. They're going to ask you why. Just let them know that you're unhappy with the current interest rates. And that there are hundreds of other offers out there that are much better than what you're currently getting. 9 Times out of 10 they will put you on hold. talk to their Supervisor... Or whoever it is that they "talk to" and they will let you know they're willing to make an exception to keep you as a loyal customer.

Thats the rough rout to do. There may be a change that they say "okay, lets cancel it" In that case I would just let them know.... Shoot, I still have a balance. Let me make my last payment and i'll call back later to cancel it. I'll admit. It might be a little dishonest. But if it's the difference in 15% or so in interest its well worth it. Sometimes you just have to play the game.

On another note. There are several cards out there with 0 interest like The Chase Slate card and several AMEX cards. Try not to hold a balance. It's just not that smart. But if you do. I would recommend Slate. Or Even Discover One. Is a good option :)

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