Credit Card Companies. Grrr!!!

iVillage Member
Registered: 04-02-2003
Credit Card Companies. Grrr!!!
2
Wed, 06-11-2003 - 11:20am
I'm an irregular poster, but just wanted to vent about a couple of recent run-ins I've had with credit cards companies. I have a significant amount of debt ($35,000) but have managed it well (if that's possible) no late pays, over the limits, etc. I've also not added one penny this year and have paid off over $3000 so far.

Anyway, about a week ago I call Cap 1 to see if they will lower my interest rate. The person says I'm not eligible. BUT I am eligible to sign up for one of their handy dandy credit monitoring programs, which although he did not explicitly say this he implied that signing up for the program would help improve my credit, making me eligible for such "enhancements" in the future. The only enhancement I see, is that I will pay them even more money for something I can do on my own. All I need to do is (1) stop accruing debt; (2) pay off my balances; (3) get as much information as I can; (4) check my credit reports regularly. Although with my credit, I seriously doubt that I am a candidate for identity theft. I still like to check for errors though.

Today I called American Express because I have 2 charges for "flight insurance" for 2 plane tickets I bought last month. I called to dispute the charge, because never would I sign up for something so stupid (accidental death insurance). I never mailed in a request and screen out any telemarketer calls. The only other person in my house is 4. They cancelled the flight insurance, but they tried to sell me at least 3 other kinds of travel insurance. Ranging from $4 to $25 dollars per use. What a rip-off. One of the insurances was for car rentals, which is included with card already!!! Also no one can tell me how I signed up for the service. They just say I did it on April 19.

I'm fully committed to paying the companies what I owe. No one made me buy so much stuff. But I will not let them make one more cent of profit off of me, and I will try to free myself as quickly as I possibly can. There is no end to the amount of money they try to get you to spend. I'm learning to always be aware.

Momtochris

iVillage Member
Registered: 03-31-2003
Wed, 06-11-2003 - 2:41pm
Wow Momtochris, Good for You!!

My last run-in with a credit card company was the best. When I tried to cancel my card, she said, "What if you need it for an emergency?" and I said, "The only emergency I can see would be nuclear, in which case I wouldn't NEED a card!". That shut her up, and she briskly cancelled my card. ha ha ha!!!

It must be wonderful to have such clear sight into their shenanigans. Trying to sell you something when you call to dispute a charge. Really! the nerve!

You're doing great, keep up the good work.

Lee Ann

Lee Ann

www.werenotafraid.com

iVillage Member
Registered: 06-11-2003
Wed, 06-11-2003 - 5:09pm
Just an FYI. I worked for one of the BIG credit card companies in customer service. The way we were told is that if someone calls and request to have their interest rate lower, we were to tell them "No, that is not possible at this time but we do periodically review the accounts to see if there are any offers we can make." We were told to never even check to see if it could be lowered unless they said they wanted to close their account. There was a button we would push on your account that would show if you had been profitable. If you were profitable,(paying on time and carrying a balance) we would then transfer you to an Account Specialist who would set up the closing for you. Once the Account Specialist came on, they would ask you again why you wanted to close the account. And then they would start making offers. They usually nevered offered the lowest that they could go up front. Be sure to tell them what interest rate xyz company is going to give you if you transfer and see if they will at least match it.

Good Luck

Amanda