I have three FirstUSA cards, all near the maximum useage. As a result, they jacked up my rates. I am now in a position to pay down my cards substantially. But, once I do this , I want a lower interest rate and a good BT rate. I did this with Citi and they knocked my rate way down and gave me a good BT rate. You said in another post that you worked for FirstUSA in the past. If I pay my cards down substantially, is there any hope of getting my rate down or getting a good BT rate? If so , what do you think is possible? I also have two other cards (Nextcard and MBNA) and am trying to decide who to pay down next. The one I pay is the one I think is most likely to give me better terms. If anyone else has an opinion, please jump in. Thanks
Hi Karen, Gosh - Wish I had a person to refer you to but they closed the Dallas office so all of my co-workers and I were unemployed at the same time. Bank One owns FUSA so I'm not sure what they'll do with the rate, they're known as being money-grubbing...however, here's what I would do: - If you're making payments on time (Would be nice if you're making more than the minimum) call up and ask the rep how much you have paid in interest this year. Since it's early in the year, also ask how much did you pay last year. Get when you opened the acct., etc. Let the rep unknowingly supply you with your ammo for later on. - Once you have that amount, ask for a supervisor (Don't even bother with the rep. Unless they're experienced and have access they can't help you). The rep may try to deter you, ignore him/her. When you talk to the supervisor ask if they'll make an adjustment on your rate, tell them you have an offer from another card (Don't mention the intro rate, they know it's only temporary - tell them you have an 9.9 or 11.99% rate) and will more than likely transfer, but you'd rather keep it there. Make sure to mention how much you've made $$$ you've made the company, and that you've been good on payments, as well as how long you've been a custoner. The supervisor has authorization to make adjustments and will more than likely make a change once you convince him that they owe it to you. Hope this helps... GT
I am paying more than the minimum but not a lot. Most of the extra has gone to Citi because I thought I had the best chance with them. And, it worked. Now I need to move on and am debating which card. I intend to pay down about half of my balance on the cards to get their attention. But, if I can use my money to pay down MNBA, I will, if I feel they will be more helpful Thanks for your input. Up to this point, the reaction on the board has been very negative to FirstUSA. The concesus has been that they never lower rates. If anyone else has an opinion, I would like to hear it.
Karen, In Sept. of 2000, my wife zeroes out a FirstUSA card. In Dec. of 2000, she paid of another one. Her rates were 14.9% on both. All last year, she got a few BT checks for 12.99% and just tore 'em up. Finally, in Dec. they sent her a letter and increased her credit line by $3500 and sent her BT checks at 7.9% for the life of the transfer. I think you have to pay 'em off and ignore 'em for awhile and then they'll make you a decent offer. BTW, speaking of Citi, the day after she did a BT with FirstUSA, she got a 7.9% BT offer from Citi with no transfer fee. As to MBNA. I zeroed out one of there cards the first of the month and then, I called a couple of days ago and asked about a BT. I got a 6.9% through the Oct. cycle and a 11.99% go to.
karen, I don't owe on the two billing cycles card like First USA, FCNB, Discover Card. I have two First USA cards and I didn't owe more than $20. I heard that they going to raise APR if you max out the card. Try to get the lower rate card and balance transfer to lower rate card like Bof A. Bof A offer 8.9% BT until paid in full. BofA is a good card to get. Ron
