Ask What Your Credit Card Can Do 4 You

[vsjhoc]

If you don't ask for it, you won't get it. The worst that may happen is that someone says no. This is true in a lot of areas of life.

Discover Card, while trying for the millionth time to get me to use balance transfer checks, called and asked if they could do anything else for me.

1. Can you raise my limit? "Sure, Ms. Vsjhoc." I don't need more credit, but before we all knew that credit utilization was part of the FICO mix, I charged almost up to the card's limit. They raised my limit, so now my highest balance is a smaller fraction of the new limit.

2. Hey, I liked that gas promotion that ended on June 30. Five % cashback was a good deal. Can you bring that back? "Sure, Ms. Vsjhoc." We'll switch you to a permanent 5% gas cashback card. No charge. I don't get the other 5% specials but still get the tiered cashback rewards. Everytime it gets to $20 I use it to pay the current bill.

3. How about lowering my interest rate? "Well, can't do that today, Ms. Vsjhoc." But call back later and we'll see what we can do.

Ask for what you want. Better credit card terms. A raise. A date. World peace (OK, forget that one)...

[sakigt]

Re: Ask What Your Credit Card Can Do 4 You

What? Discover gave you that 5% gas rebate deal?

Pfff. Im calling them asap!

[neatdesign]

Re: Ask What Your Credit Card Can Do 4 You

I have been meaning to call MBNA and get my APR reduced -- seeing this thread reminded me to finally do it. So I called, got transferred 2-3 times, then finally spoke with someone who lowered my APR from 13.99V to 10.99V. I was hoping for something lower than that, or at least a fixed rate, but it's better than nothing.

I explained that I wanted to use this card more because of the rewards program, but the high APR was a deterrent. I don't actually plan on using the card anymore, but giving that explanation seemed less negative and confrontational than, "I'll just get another card and close this account if you don't lower my APR!" It worked.

~ Jenney

[vsjhoc]

Re: Ask What Your Credit Card Can Do 4 You

If the credit card rep agrees to lower your rate, ask if they can lower it further. If they can't/won't, politely ask to speak to a supervisor. Sometimes the rep only has a limited amount of discretion.

[sweeps]

Re: Ask What Your Credit Card Can Do 4 You

Hmmm, I wonder if they'd raise the cash rewards limit above $300....

[vsjhoc]

Re: Ask What Your Credit Card Can Do 4 You

Ask. It takes only a phone call. The worst that happens is that they say no. Let us know if you try it!

[DivaJen]

Re: Ask What Your Credit Card Can Do 4 You

Hmmm, I wonder if they'd raise the cash rewards limit above $300....

If you ask would you mind letting us know what they say? I'm considering getting a second card (I think there's a Chase card?) to use when I reach the Citi $300 limit.

[sweeps]

Re: Ask What Your Credit Card Can Do 4 You

What is the Cash rewards limit? Does MBNA have that?

The Citi Platinum Dividend Rewards card (and the Chase Cash Plus card which is essentially the same thing) have a limit on cash rewards of $300 per year. I doubt they'll raise it, but I guess it's worth a try.

[b4freedom]

Re: Ask What Your Credit Card Can Do 4 You

The reason that they have a limit is for tax purposes. Anything over $300 has to reported to the IRS. The IRS may treat that as income. I love the citi dividends card. However, I usually max out the $300 limit mid-year.