Credit card companies have departments that try to get customers to keep the card they want to close. YOU MAY BE ABLE TO GET ANY OR ALL OF THE FOLLOWING BECAUSE THEY WILL ONLY MAKE MONEY IF YOU KEEP THE CARD!!! 1) Reduce the interest rate. 2) Increase the credit line. 3) Give a 6 month teaser rate. 4) Drop the annual fee.
Thanks George =0) That's what I thought, but wanted to be sure. I'm thinking of giving Providian a call and I'm debating on if I should try the regular reps first, or go straight for the retention dept.
I disagree. It worked for me - the trick is to have leverage. If your balance is ZERO ($0), in other words, if you've paid the card off, and have had no lates/returned checks, then threaten to close, they will do ANYTHING to keep you. It happened to me - Cap 1 increased my limit, lowered my APR and I kept the card, but, I have always paid on time, never had a bounced check, and had paid the card off. My borderline subprime Cap 1 card has a lower interest rate than my prime Citibank card with an ample credit limit.
