Re: Trying to pay off $@!^$# bills.

Posted by Linda on October 06, 2001 at 17:23:14:

In Reply to: Re: Trying to pay off $@!^$# bills. posted by michelle on October 06, 2001 at 16:09:23:

You can trick them into raising your limits and lowering your rate, if you rotate around making really high payments on the cards. Their software is often "payment sensitive" and picks up the fact that you are making high payments.

If they raise your limits, then you look better to other card companies, and when you call and ask for rate reduction, they see that you have lots of credit available, and you are making regular high payments, and they will lower your rate to keep you, because you appear to be a good customer, and to have a lot of other options.

You can use yahoopaydirect to move money between cards, and you can use a cobaltcard or visabuxx card to take money from one card to make the high payments on another card, to trick their system into liking you. I am not saying that you shouldn't pay them down, if you don't, you will be in big trouble. But you can improve your odds of getting the rates lowered. Pretend it's a game, and see how high you can get your limits and how low you can get your rates.

Then start calling asking for special balance transfer deals - you'll be surprised at what they'll do.

And never say "I'm going to close this account if you don't....." just say, "I really love my xxx card, your (service is so good/I've been with you so long/you've been so good to me) but, I've been considering closing some of my accounts because the (rates are so high/limits are so low/never offer me balance transfers), is there anything you can do for me?"

And your objective (if the CSR can't help) is to get transferred to their retention department, whose job is to keep you as a cardholder. Retention has more authority than customer service. Never threaten, and if you get a grouchy customer service rep, just get out of the call politely and call back and get another one. ;)

Have fun!

Linda

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