Can you believe this??

iVillage Member
Registered: 05-10-2004
Can you believe this??
3
Tue, 10-26-2004 - 10:43am

Many of you know how much I hate Chase & how I am trying to get rid of them as quickly as possible.

 

iVillage Member
Registered: 04-07-2003
Tue, 10-26-2004 - 1:33pm
I got the same thing with my CIBC Visa a number of years ago. They wouldn't let me have a lower interest rate, yet every 6 months or so they raised my limit. The reason they do this is because they know you are a gold mine in interest.

I thanked their arrogance by paying off the balance in full by transferring to my BF's low-interest PLC, AND I closed my regular checking account with them too. If they had simply lowered my rate in the first place, they would still have me as a customer, AND they would still be making some interest off me.



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iVillage Member
Registered: 06-18-2004
Tue, 10-26-2004 - 4:01pm
MBNA is the same way. They finally upped my credit limit to an all time high (for me anyway) of $12,500. A couple of months later I managed to completely pay off the balance, and thanked them by closing the account!

Kellie

iVillage Member
Registered: 09-21-2004
Tue, 10-26-2004 - 7:28pm
I would call them back and tell them since they can raise your limit but not lower your interest, after the card is paid off in 3 more payments, you will be closing your accout and going somewhere else with you business. Even if you don't plan on staying with them after they close the account even if they lowered the interest, you should still call them. It puts the power in your hands. Plus even if you have no intention of getting a cc with someone else, it makes them sweat and lets them know you got a better offer somewhere else and if they would have just met your demands, they would still have you as a customer and still be making money off of you. CC companies let customers think they can jerk us around but they can't cause there is always a better offer out there somewhere, so if they want to keep us they will have to meet our demands.