Todays experiance with 3 banks

Discussion in 'Credit Talk' started by bbarlow, Sep 25, 2000.

  1. bbarlow

    bbarlow Guest

    1st I called about the First Premier Future card, told the rep I wanted to cancel, of course she sent me to a retention specialist. He offered me a 100.00 increase in limit but nothing as far as interest ratee or the 5.00 a month fee, I asked believe me! The end result was that I cancelled the card, gave the info on my bank account for payment. 0 balance, I had the card for 11 months with a 100.00 increase after 6 months.

    2nd call. I called First National Credit Card bank, actually this is also First Premier. I have carried this card since January. Results: 100.00 line increase (whoopie) 14.9% interest rate(great) and waived the annual fee(which isn't due until Jan 2001. Good deal as far as i'm concerned, but why such a differance?

    3rd call. Bankfirst Action card, I've only had this one 2 months so I wasnt to suprised that she just closed the account after about 1 minute of hold time(probably a short conversation with supervisor) I also paid this in full by direct withdrawal from m6y checking account.

    I have 2 questions.

    1. Why the differance with 2 branches of the same bank, especially when they offered a much better deal on a card I've had for less time? Both have been paid well.

    2. Will it hurt to close the Bankfirst account after such a short period? I dont like the card, they charge 8.95 a month "membership fee".
  2. dave

    dave Well-Known Member

    RE: Todays experiance with 3 b

    As to the first question, it may just be a matter of human nature. People often have different takes on the same situation. One may be having a bad day and the other just found out that he got a raise. Sometimes, new reps. will be less generous because they are not sure of their own authority but one who has been around awhile may not worry about it. This also shows that alot of these decisions are subjective and not guided by any firm bank policy.

    As to question #2, I would not hesitate to close an account with a membership fee of $8.95 per month. There are much better deals out there and you should go for them. In fact, I did cancel this card a few years ago on the day I received it because the credit limit was low in relation to the fees charged. It still shows on my credit report even though I never used it. If you close it, insist that they report to the CRAs that it was closed at consumer's request because they reported inaccurately on my account that it was closed by credit grantor.

    I like hearing stories like this. You show persistence and are right not to cave to whatever terms they want to impose.

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