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I need to Vent RE: Credit card interest rates
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kahlua716
3 Girls for Me!
Member since 8/07 12475 total posts
Name:
Keri
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I need to Vent RE: Credit card interest rates
Why is it that all the credit management websites make it sound so easy to call up and ask for a lower rate.
I have a card that started at 0% interest, then it increased to 18% (ok- 17.99 which the stupid CSA was quick to correct me on  )
I make my payments on time and pay over the minimum every month.
There was 1 instance a few months ago where I paid my bill through their website and they took it out of an old account that I no longer use. As soon as I realized what happened- I called and told them there was a mistake and they credited my late fee and the returned check fee (I still had to pay an overdraft fee to the bank).
I just called and explained nicely that I receive numerous 0% balance transfer offers every week but that I would like to stay with BOA Visa, so could they please do something about my interest rate.
He looked and said No. And said that if I feel I need the 0% interest, I could basically, take a hike (although they would miss my business).
I asked to speak to his supervisor and he said someone would call me back within 48 hours.
Why can't things just go easy for me--EVER?!!?
Now, if you've made it this far- a question: They asked me about my income and I only included my own income, not DH's. If I would've given them a higher income, would they be more likely to lower the interest rate, do you think?
Message edited 9/9/2008 2:02:05 PM.
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Posted 9/9/08 12:27 PM  |
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JenMarie
One day at a time
Member since 11/07 7397 total posts
Name:
Jennifer
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Re: I need to Vent RE: Credit card interest rates
I had this same issue with BOA. They are HORRIBLE! They lowered one of my cards by less then 2%. The following week they lowered my credit limit on my other card that I carry a balance on, making it look like my card is almost maxed out. I called them about that and was told there's nothing they could do.
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| Posted 9/9/08 12:33 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: I need to Vent RE: Credit card interest rates
Posted by kahlua716
There was 1 instance a few months ago where I paid my bill through their website and they took it out of an old account that I no longer use. As soon as I realized what happened- I called and told them there was a mistake and they credited my late fee and the returned check fee (I still had to pay an overdraft fee to the bank).
I just called and explained nicely that I receive numerous 0% balance transfer offers every week but that I would like to stay with BOA Visa, so could they please do something about my interest rate.
Now, if you've made it this far- a question: They asked me about my income and I only included my own income, not DH's. If I would've given them a higher income, would they be more likely to lower the interest rate, do you think?
Ok a few things.
Since you got hit with a late payment because you sent in a late payment, you are pretty much on their "bad" list now.
"Promotional Offers" which is what you had are usually terminated if you "default" on the account in any way. Your terms and conditions fine print would explain this all. Making a late payment would qualify to have them remove any benefits from your account.
Also... NO bank will extend a 0% offer. I have yet to find one that does this regularly. If you are getting 0% pre-approved offers, then I suggest you just apply for one of those and transfer the balance.
I have to say BoA customer service reps have been nothing but helpful to me. They have given me the world and are probably the best CSRs out of all the majors. Citi CSRs suck, as do WAMUs.
Also when asking for income, they ask for "household income". So you should always include your DH's income when they ask you. Just give them the total household income when they ask (don't say something like 50k for me, 70k for your husband). Just say 120k.
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| Posted 9/9/08 12:50 PM |
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kahlua716
3 Girls for Me!
Member since 8/07 12475 total posts
Name:
Keri
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Re: I need to Vent RE: Credit card interest rates
Posted by ave1024
Posted by kahlua716
There was 1 instance a few months ago where I paid my bill through their website and they took it out of an old account that I no longer use. As soon as I realized what happened- I called and told them there was a mistake and they credited my late fee and the returned check fee (I still had to pay an overdraft fee to the bank).
I just called and explained nicely that I receive numerous 0% balance transfer offers every week but that I would like to stay with BOA Visa, so could they please do something about my interest rate.
Now, if you've made it this far- a question: They asked me about my income and I only included my own income, not DH's. If I would've given them a higher income, would they be more likely to lower the interest rate, do you think?
Ok a few things.
Since you got hit with a late payment because you sent in a late payment, you are pretty much on their "bad" list now.
"Promotional Offers" which is what you had are usually terminated if you "default" on the account in any way. Your terms and conditions fine print would explain this all. Making a late payment would qualify to have them remove any benefits from your account.
Also... NO bank will extend a 0% offer. I have yet to find one that does this regularly. If you are getting 0% pre-approved offers, then I suggest you just apply for one of those and transfer the balance.
I have to say BoA customer service reps have been nothing but helpful to me. They have given me the world and are probably the best CSRs out of all the majors. Citi CSRs suck, as do WAMUs.
Also when asking for income, they ask for "household income". So you should always include your DH's income when they ask you. Just give them the total household income when they ask (don't say something like 50k for me, 70k for your husband). Just say 120k.
Thanks for the info!
I guess they still consider it a late payment even though I paid it before it was due- they just took it from an old account (I updated the account info right before I made the payment, so there may have been some confusion there).
The promotional APR was already over at that point.
I'll definitely be looking for a new card with a lower interest rate. I wasn't expecting them to lower it to 0%, but SOMETHING would have been nice.
Oh well. Lesson learned.
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| Posted 9/9/08 2:01 PM |
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