Well, Chase thought I was easy meat for their predatory repricing policy. It was based not on my payment record or credit history, but on my lack of bargaining power. Or so they thought. Over the weekend I figured out how to pay off half the $955 balance in two weeks. So I'm wondering what sort of chances I might have with Chase retention: (A) If I call them to ask for a lower APR when my balance is less than $500 on a $1000 card? (B) If I just close the account now to avoid the outrageous APR and then ask them to reopen the account once it's paid off in about a year? Could I keep both a normal APR and the full account history that way?
I have found that this number from chase, 1-800-345-8089 has been the absolute most helpful customer service ever. They blow amex away in my opinion. I called them yesterday to consolitdate my stockback and platinum card into just a platinum and she also offered to extend my 0% for 18 months an extra 6 months, and also changed my goto once my 0% is over from 14.99% to 6.99% fixed, and I didn't even ask!
RichGuy - why not call them and ask if you send them - er - a $250 payment - would you leave the rate as is? If they won't move it at $250, they won't do it at $500. Don't stress yourself - and see what 1/4 of the balance due will get you - but maybe nothing... in which case make a payment comfortable for you - and pay it down as soon as possible. I know its iritating.... DM
ero2, Thanks for the reply. It's encouraging to me that they've been so helpful to you. I'm sure your scores helped a lot, but I have a few things going for me too. Maybe I just need to find positive arguments and then ask nicely for what I want. After all, it isn't some kind of crime to carry a balance on their card. It's the most reliable way for them to make a profit from my account.
Thanks, Dog-san!! Part of the $500 would be a balance transfer to Capital One, something I'd prefer not to do now. I need to contact Mr. Cooke in about a month, and I don't want to show him a maxxed-out "Platinum" Visa. So I may try some variation on your suggestion. You're right that it's irritating. I jack up my payment to pay it off more quickly, and then they jack up the APR so it takes longer to pay off.
creditors are in the business to make money off lending you money. there is NO CRIME in carrying a balance, that is what probably 90% of the people in the world use credit cards for, the other 10% use credit to earn miles and pay off every month, some people pay off every month, some people carry balances in emergencies, and for some theyy just carry balances forever (LIKE ME) so, I think as long as you are nice, that number I posted should be able to help you out greatly. Just tell it like it is, look I (RichGuy) am a great customer, I pay you guys every month, never late, and pay you a higher rate than my other cards (BS a Little) because I like chase, I think you guys are good to deal with, I know several people that have a 6.99 fixed rate, so could you give me that or somewhere in the middle. I value this banking relationship and would appreciate it greatly. If they say no, close it, and lock in your rate, but then at least you tried. I found out that that number, by the way, is direct to the account supervisors, who can do ANYTHING they want to your account, so just be nice and I think you'll be cool. Let us know your results, and I wish you luck!
MINE IS LONG GONE... Wife's will be PAID IN FULL before two weeks... THEN STUCK IN THE SOCK DRAWER ON EMPTY
GEORGE, You can bet that if I keep the account open and pay it off at 22.99%, then after doing so I will stick it in some kind of drawer for a long, long time. Sort of a penitentiary for credit cards. I don't have much tolerance for their kind of nonsense, especially when it happens to me...
Ero 2 as much as that special dept helps with apr reduction and cl increases under normal conditions this requires going to the top for results I bet... the top in this case being MR Micheal J Barrett president or George Palamara vice president address 270 Park Ave Floor 12 NEW YORK, NY 10017- 2004 OR IF YOU PREFER TO CALL 1 212 270 6000 OR FAX 1 212 270 6522
