Ask me about working for a credit card company

lancev99 · #1 01-03-2007, 10:48 PM

[ QUOTE ]
How much give and take is there with APRs? E.g., I had a card with a pretty good APR, but after three years it was going to change to a variable rate. I opted out, and therefore was unable to use the card anymore. I kind of wanted to, so called and tried to get a set rate on a balance transfer, even if it were a tad higher. Both first tier and second tier employee I spoke with said there was no way to negotiate it. True? It didn't make much sense to me, I mean, they're getting nothing out of me now.

[/ QUOTE ]

Usually the APR's are set. "THE COMPUTER"(it's the best way I can describe the program we use) tracks different things. If the option is there for the APR it's there. If it's not, sorry. Sometimes you can write into an address and they will lower the rate. Each company has that.
One thing you can do is just transfer the balance's off of one card to another company. Get the best possible deal. If they say no rate, go to another company and apply for a new card, see what you can get.

scraggs · #2 01-04-2007, 05:34 AM

you generally have to call up and ask to cancel your card. this scares them enough to send you over to the retention department where you can get some great deals and usually, at the very least a nice APR reduction.

BigBadBabar · #3 01-04-2007, 05:39 AM

why, if i want to pay over the phone, do i get charged a fee? so basically i am paying a fee for the privilege of paying the bill.

lancev99 · #4 01-04-2007, 01:55 PM

[ QUOTE ]
why, if i want to pay over the phone, do i get charged a fee? so basically i am paying a fee for the privilege of paying the bill.

[/ QUOTE ]

More way to make money. It's designed, at least at my company, to make you use the internet site. It's cheaper than having to run an automated system with a VRU. It's also to pay for customer service to keep MOST of it in the US instead of of India. At least that is what I was told by my company.