Re: APR reduction

Posted by Linda (65.120.51.211) on June 13, 2002 at 13:19:20:

In Reply to: Re: APR reduction posted by Christine on June 12, 2002 at 21:34:28:

Some of us here do things like this. ;)

First, they like you if they think they will make money off you. They don't want to see big balance to limit ratios - it scares them. They want to see that you use the cards a lot. Run as much as you can through the cards, them pay them off before the end of the grace period. Every time you use that card, they amke money. Pick a ouple of cards - maybe your oldest - to work on. Keep a little bit of a balance on one. Run it way up and then pay it down all at once. Let them see a lot of activity. These are the things that attract the attention of the software they use that tells them you are potentially profitable.

After few months of this, if you have a good record with them, call them up and tell them you are considering transferring a balance to that card, but you would only do it if they could give you a better rate. Or you have a vacation (or wedding, other expensive occasion) coming up and you would like to use THEIR card, since it's your favorite, but you really need a lower interest rate in order to so that.

If the rep says, "no way" ask her if she could tell you why, since that really is your favorite card and you have been a good customer for a long time,- what could you do to improve your standing with them. If you get a smart a$$. Thank them for their "help," hang up, and call back and get a different rep. Don't do it too many times in a row, though, or they will tell each other about you and be ready to "handle" you.

So, basically, use the card a lot, let them amke a little money off you, and "sweet talk" the reps.

Usually these things work, if you have prime cards, like MBNA, Citi, Chase. Really, if you haven't been getting offers from time to time, and account improvements, you probably haven't been using the card enough.

Linda

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