Comments on: 7 Unwritten & Often Forgotten Credit Card Secrets

By: Jim

Jim — Sat, 24 Oct 2009 12:49:16 +0000

They won’t be able to do the match idea you suggest but you could always try to convince them to put your APR back to 9%. If not, I think a balance transfer to another card might be in order.

By: Credit Card Ques

Credit Card Ques — Sat, 24 Oct 2009 00:58:54 +0000

I have an open and active credit card with Citibank. I been making all my payments on time for years and been a customer for almost 5yrs now. There APR just went up because the of the economy so they say. I realize last mth I just max out my card. Is there a way to give them about 30% (give or take) of the balance and they can credit me 10% or even 30% (like match on match)?
For example CC balance is $6000 and I want to pay them $2000. Can they credit me $1000?
I was asking this because I cant pay there new APR. It went from 9% to 23%! So I was thinking give them a big lump and they credit me something and the mthly payments will lower and they will get there money faster.

By: joe

joe — Fri, 09 Oct 2009 02:04:30 +0000

This info is now outdated. These rules don’t apply to the credit card industry anymore.

If you try to pull the “i’ll move my business elsewhere” line with them, They’ll be more than happy to let you take your $8000 balance that you make $200 payments on every month to another financial institution…go ahead, owe them money, is what they’ll say to that.

Only the very affluent qualify for any potential “retention” offers.

CC companies are in a risk reduction mode right now, and probably will be for quite some time.

By: 10s.Star

10s.Star — Sat, 06 Jun 2009 22:44:51 +0000

I’ve done it before and still in the process of a similar arrangement….0% INDEFINATELY. I told “them” in both cases of my intentions. The banks set up these programs based on statistics. You are on the right track. Use Autopayment option. Of course, DO NOT do this if you are planing on buying a house or car or quoting insurance. It will adversely affect your credit score through new credit request, increasing credit ratio and skewing credit utilization distribution.

By: 10s.Star

10s.Star — Sat, 06 Jun 2009 22:28:11 +0000

Competition….If you did not have a competing bank to transfer your balance, you did not have the upper hand.
Get another card, transfer the balance, keep the existing card for later negotiation…Do not close the account.

By: 10s.Star

10s.Star — Sat, 06 Jun 2009 22:20:25 +0000

Why put money towards a purchase in the first place? A little insult onto your injury…You missed out on the cashback rewards, the interest on the $100 in the bank for an additional 40+ days, & you risked losing the $100.00 by having it on you.

Unfortunately, the same result would happen if you used 2 or more credit cards to divide the camera’s cost…even if both cards had the theft “insurance”.

By: franky

franky — Mon, 25 May 2009 21:34:59 +0000

you had already paid every payment to that company and they saw no reason to change the interest becuase it was making money off you,so they called your ‘bluff’,i definately would’ve ended that contract a long time ago!

By: franky

franky — Mon, 25 May 2009 21:29:39 +0000

Ask to lower the payment then pay it all off in a single pay,if you try to pay it over 12 months they can change the pay dates(inducing late fees) or change the interest rate(not saying they will,but they can).
Also you want to keep your balance to limit ratio low for the rest of those months to achieve a higher score over the course of the year vs. trying to put each paycheck in payments.

By: Anonymous

Anonymous — Sat, 23 May 2009 23:59:37 +0000

i have a chase credit card with 17, 750.00 the balance is due end of july-this has been 0% interest for 12 months-it was a balance transfer. Would you pay it off-which I can do, but this will deplete savings just leaving 2,500 or would you do another 12 month balance transfer 0% interest for 12 months? I pay the minimum each month and save enough to pay the card off by the 12 months. the offer I have for balance transfer says I can write a check up to 20,000 deposit in my account and use as I would like (it is from chase-so I can’t write the check directly to chase to pay off the chase credit card. Would I be doing the wrong thing, in your opinion, to write the check for 20, 000, deposit it in an account to draw interest until it is due in 12 months?

By: bruce

bruce — Wed, 01 Apr 2009 19:37:12 +0000

Discover is accepted very few places outside the US. Get a capitalone card

By: Bryan

Bryan — Tue, 24 Mar 2009 00:39:04 +0000

GO BUCKS!!!

By: Charlie-paylessforfood.com

Charlie-paylessforfood.com — Mon, 23 Mar 2009 13:41:10 +0000

Be careful of the rental liability insurance offered by your credit card. Rental companies, like many companies, have become ever more sneakier in dealing with the average consumer.

Many rental car companies are now charging a “LOSS OF USE” fee if you get in accident with a rental car. They say that this covers their lost income when the car can’t be rented as it is being repaired.

Magically, of course, the rental car company’s EXPENSIVE insurance covers the “LOSS OF USE” fee while your credit card insurance does not.

Makes you sick to your stomach.

By: Marg

Marg — Thu, 08 Nov 2007 00:07:07 +0000

Is it legal for a credit card company to charge 34% interest? My son is in the United States Navy and while in the middle east, his bill was not paid, (spouse overlooked). to make long story short bills were paid late. when he returned he started to pay min. but visa closed his account. this past month he sent his payment late by a few days, this month, the bill came in and he is being charged 34% interest rate. Is this legal?

By: jim

jim — Wed, 26 Sep 2007 14:38:23 +0000

Hi Bob, thank you very much for the compliments and the comments. About full disclosure, I don’t know what qualifies me as an internet marketer but it’s not my full time job (if that’s a qualification). I do have Adsense on my site but I don’t know how that damages my credibility as a regular guy? Is it because I generate money from the site?

By: Bob

Bob — Wed, 26 Sep 2007 13:00:24 +0000

Hi,
I live in the Twin Cities area and heard your conversation on KTLK with John Hines. I thought the content was excellent and your website looks very helpful and loaded with great content as well. However, the billing was “Just a regular guy with nothing to sell”, etc. It just seems to me that full disclosure should be the order of the day since you are an Internet Marketer with AdSense Ads, etc. on your website. Take if for what it is worth, I’d hate to have people think you are a fraud if they found out that you are actually promoting your website for profit and all your good content becomes untrustworthy in the minds of the public.

Just my opinion – good show,
Bob