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On the topic of credit cards..have you done this?
I actually called last night and got one of my cards to lower the interest rate for 7 months. Never hurts to ask!
Message edited 12/31/2015 1:38:25 PM.
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Posted 12/31/15 1:36 PM  |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: On the topic of credit cards..have you done this?
I never tried to call the actual card I have and ask for it to be lowered.
One time, this was a while back, but one time I had a card with like a 5% rate or something - it was good but I received an offer for a different card with 0% and no fee or penalty on balance transfer. This is when I had a balance (dog = midnight run to the ER, costly recuperation from being real sick = $$$) -- so I called and opened that card, they transferred the balance. And then I called and just closed the other one.
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| Posted 12/31/15 1:48 PM |
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Re: On the topic of credit cards..have you done this?
Posted by DaniJude
I never tried to call the actual card I have and ask for it to be lowered.
One time, this was a while back, but one time I had a card with like a 5% rate or something - it was good but I received an offer for a different card with 0% and no fee or penalty on balance transfer. This is when I had a balance (dog = midnight run to the ER, costly recuperation from being real sick = $$$) -- so I called and opened that card, they transferred the balance. And then I called and just closed the other one.
Actually this is recommended by many professionals.
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| Posted 12/31/15 2:07 PM |
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Leb
LIF Adult
Member since 12/09 4166 total posts
Name:
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Re: On the topic of credit cards..have you done this?
Posted by afternoondelight828
Posted by DaniJude
I never tried to call the actual card I have and ask for it to be lowered.
One time, this was a while back, but one time I had a card with like a 5% rate or something - it was good but I received an offer for a different card with 0% and no fee or penalty on balance transfer. This is when I had a balance (dog = midnight run to the ER, costly recuperation from being real sick = $$$) -- so I called and opened that card, they transferred the balance. And then I called and just closed the other one.
Actually this is recommended by many professionals.
Doesn't closing a card negatively effect your credit?
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| Posted 12/31/15 3:24 PM |
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Re: On the topic of credit cards..have you done this?
Posted by Leb
Posted by afternoondelight828
Posted by DaniJude
I never tried to call the actual card I have and ask for it to be lowered.
One time, this was a while back, but one time I had a card with like a 5% rate or something - it was good but I received an offer for a different card with 0% and no fee or penalty on balance transfer. This is when I had a balance (dog = midnight run to the ER, costly recuperation from being real sick = $$$) -- so I called and opened that card, they transferred the balance. And then I called and just closed the other one.
Actually this is recommended by many professionals.
Doesn't closing a card negatively effect your credit?
I wouldn't close the card. I don't think they say to close the card, just do the transfer to 0%.
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| Posted 12/31/15 3:37 PM |
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Michmouse
LIF Adult
Member since 11/07 1260 total posts
Name:
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Re: On the topic of credit cards..have you done this?
Posted by Leb
Posted by afternoondelight828
Posted by DaniJude
I never tried to call the actual card I have and ask for it to be lowered.
One time, this was a while back, but one time I had a card with like a 5% rate or something - it was good but I received an offer for a different card with 0% and no fee or penalty on balance transfer. This is when I had a balance (dog = midnight run to the ER, costly recuperation from being real sick = $$$) -- so I called and opened that card, they transferred the balance. And then I called and just closed the other one.
Actually this is recommended by many professionals.
Doesn't closing a card negatively effect your credit?
Yes, it does.
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| Posted 12/31/15 5:13 PM |
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RainyDay
LIF Adult
Member since 6/15 3999 total posts
Name:
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On the topic of credit cards..have you done this?
I called a few months ago to ask to have rate lowered and they did it for a year. It doesn't hurt to call and ask, the worst they could do is say no.
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| Posted 12/31/15 5:23 PM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: On the topic of credit cards..have you done this?
Oh that's recommended?? Who knew? lol!
And I have no clue if closing the card is bad or not. I am not overly concerned.
I just recently had my credit ran Bc my lease was up and I got a new car and it was excellent so I guess whatever I do, all in all, it adds up to good.
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| Posted 12/31/15 7:16 PM |
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RainyDay
LIF Adult
Member since 6/15 3999 total posts
Name:
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On the topic of credit cards..have you done this?
I think its recommended to keep cards open even if you dont use it or have zero balance because it shows youve held that line of credit for so many years. I wouldnt be overly concerned if it was a newer line of credit that was closed.
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| Posted 12/31/15 10:29 PM |
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Paramount
Sweet!
Member since 7/12 4289 total posts
Name:
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On the topic of credit cards..have you done this?
2 reasons you keep
It open.
One is the longevity of credit. If that card was the oldest a card you have then ou really hurt your credit by closing it. If you have an old card never ever ever close it. It will hurt your score.
Also. Depending on how much credit you have available closing a card can negatively effect you credit. Let's say you have 10k in credit cards. The new card is $5k. The old card was 10k. You just lowered your available credit by $5k.
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| Posted 12/31/15 11:05 PM |
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