Card PC's and CLI's HELP!!!! please..... :(

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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No Joy
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Card PC's and CLI's HELP!!!! please..... :(

Postby No Joy » Fri Apr 05, 2013 10:52 pm

BackGround:
Capital One Platinum MasterCard 3k (7/2011)
Discover More Card 2k (2008)
Chase Slate 3.5k (10/2011)
BofA Platinum Plus MasterCard 2k (2008)
BofA Platinum Plus Student Visa 2k(2008)
AMEX Blue .5K (2008)

FICOS: Ex-748 EQ-744 TU-744 April 2013

Now I have never been the one to care too much about my CC products such as rewards or CL. As long as it has a low APR and no annual fee I'm just dandy. However, recently I have had a fire lit on my ass after doing some research on this forum I decided to call my issuers and get better options.

So I received my very first credit card, my BofA Student Visa Platinum Plus current CL-$2000 which has been incrementally increases over the years, Sophomore year of college. Now 5 years later and after been graduated for almost 2 years now I think its time to request a PC.

I called there back door number and the representative stated that I qualify for any card I want because I have never missed a payment nor been late since opening the account in 2008. I said great I want the 123 Cash back rewards card, he replied sure.
Now, while processing the card I thought I would push my luck and request a lower APR, current APR is 9.99%.

He said he cannot approve that but he is sure I would qualify for something like 7.99% and transfer me over to a specialist who could before doing the PC. Okay, that's fine with me. So he transfers me over. Couple minutes of elevator music the specialist comes on the phone and states that the lowest APR BOA gives is 9.99%. I replied but I have a BOA MasterCard Platinum with 6% APR, she then replies "that's because I have been grandfathered in and the lowest she has ever given out is 9.99%."
Is there any truth to this, has anyone else heard this?

I think I have a good credit score why do I always run into these mean CS reps. I have had the same problem with Capital One Platinum MasterCard which I have had for almost 2 years, after doing research I realized that this was the worst card that Capital One offers, but they don't want to give me a PC! Only lowered my APR temp to 14.99%(this is my highest APR Credit Card)

And my American Express Blue Card which started out as a Student Blue Card with $500 limit in 2008, I have tried numerous of times over the years to get a CLI but nope! Always denied.

Discover has been the only bank that has given me a PC and lowered my APR.
I'm happy with my Chase Slate so I didn't try to contact them.

Please help inform how I can improve the cards in my wallet, its kind of embarrassing to know that while my colleagues boast these shiny benefits laden cards I'm still using student cards. :(


DavidNY
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Postby DavidNY » Sat Apr 06, 2013 8:01 pm

I have great rewards cards, but all my APRs are well over 10%. It's not a issue, because I pay in full.

No Joy
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Postby No Joy » Sat Apr 06, 2013 8:28 pm

DavidNY wrote:I have great rewards cards, but all my APRs are well over 10%. It's not a issue, because I pay in full.


So your saying a low APR should not be a priority?

In the past I have on average carried around a 25% balance on my cards.

tigerowl06
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Postby tigerowl06 » Sun Apr 07, 2013 12:33 am

The easiest way to deal with this situation is to apply for new cards. Maybe try for USBank Cash +. People seem to have good luck getting nice CLs from them. Or any other VISA signature that has a 5K minimum.

I have the impression that creditors issue CLs that reflect what they hope you will use and issue CLIs based on your usage. Perhaps that is part of the issue? Some of this can be self-fulfilling on their part if the CL they issue is really low.

Also, I would make a no-nonsense threat to cancel that blue card. The CL is outrageous if you have a real job and if your credit scores are anything remotely like what you quote. Creditors will often be nicer if you mean business. If you cancel with Amex, you can always come back and your member since date (hence age of account) will be 2008.
Chase Freedom ($2.5K, 10/2009)
Discover it ($6.6K; 03/2011)
Amex BCE ($19.5K; 02/2013 - 2011 BD)
USAA Limitless 2.5% (22.5K; 08/2017)

No Joy
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Postby No Joy » Sun Apr 07, 2013 4:56 am

Success! I called AMEX and requested to close they asked why and I told them because of the ridiculously low CL. They asked how much I would like.. I read somewhere that they don't give higher than 3XCLI so I asked for $1500 and I was instantly approved... My word these people are grimey.. Now off to try and tackle the Cap one beast!

tigerowl06
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Postby tigerowl06 » Tue Apr 09, 2013 9:50 pm

No Joy wrote:Success! I called AMEX and requested to close they asked why and I told them because of the ridiculously low CL. They asked how much I would like.. I read somewhere that they don't give higher than 3XCLI so I asked for $1500 and I was instantly approved... My word these people are grimey.. Now off to try and tackle the Cap one beast!


Not surprised at all that they gave you the CLI. Looks like you're worth another 3x; go for it again in 6 months. Congrats!
Chase Freedom ($2.5K, 10/2009)
Discover it ($6.6K; 03/2011)
Amex BCE ($19.5K; 02/2013 - 2011 BD)
USAA Limitless 2.5% (22.5K; 08/2017)

DavidNY
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Postby DavidNY » Tue Apr 09, 2013 9:57 pm

No Joy wrote:So your saying a low APR should not be a priority?

In the past I have on average carried around a 25% balance on my cards.


Correct. Always pay in full if possible to avoid interest fees.



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