Does calling really work?

rabbitfoot · #1 (**permalink**) 10-09-2004, 09:15 AM

I have read in a couple of places on this site that you can call your credit card company and get your fees waived and rates lowered. Is this true? Has anyone ever done it?

Tree0164 · #2 (**permalink**) 10-09-2004, 05:09 PM

Yes it does work.

On interest rates yes- let them know you are getting so many offers in the mail and would like to stay with their company but you won't be able to because you are getting x% rate offers in the mail.

If a rep says no ask for a supervisor.

Good luck!

rabbitfoot · #3 (**permalink**) 10-09-2004, 09:04 PM

OK, I will give it a try. I'm a little nervous, but I guess it can't hurt.

terry1156 · #4 (**permalink**) 10-12-2004, 09:32 AM

How did the effort go? Hopefully you didn't get the run around and were able to get the rate lowered.

jhd815 · #5 (**permalink**) 10-19-2004, 07:12 PM

Also, when speaking with a supervisor ask if the new rate they are offering to you is a promotional rate or a contract rate? A promotional rate will expire after a set time limit; a contract rate is good as long as your account is in good standing (if you have a variable rate card, the rate can increase anytime the Prime Rate is raised).

rabbitfoot · #6 (**permalink**) 10-23-2004, 10:09 PM

Thank you all for the advice. I was able to lower one of the cards about 10%. The other one I didn't have any luck on, but I'm considering transfering the balance to the one that I was able to get a lower rate on. Is there anything special I should do when making the balance transfer request?

Tree0164 · #7 (**permalink**) 10-24-2004, 04:53 PM

That's great that you were able to get the lower rate.

Ask if they will waive the balance transfer fees. Sometimes they can be as high as $50.

Good luck!