You might try your state's Attorney General.

What's your beef?

I called to ask for an interest rate reduction, thinking that since I am never late with any payments to anyone and have a credit score in the 700's that they really shouldn't be charging me a high rate that goes up every month. They said no. Since I called last month the rate has increased 1.25%! The person I spoke to was very condescending so I just wanted to let someone know about it since the more people who complain, the more likely change will happen.

They will definately lose my business and all that interest they are heaping onto my plate!

Why is your rate going up every month?

So you received a "condescending tone" when you called them; big deal.

Look, you owe them money; they're "financing" you and the terms of their company arrive periodically in those too fine print, too long brochures we've all chucked out in the trash. Just because they're a pain to read or you don't want to read them doesn't mean they haven't FULFILLED THEIR LEGAL OBLIGATION. You were notified of the change in terms.

I'm not unsympathetic, but the reality IS, you are "on the stick" for whatever balance you carry forward each month. And as long as your credit card company legally provides you with their "terms" you must play by their rules unless you pay off your debt IN FULL immediately.

It's that "simple".

Yes, I guess I am just mad because I feel when I, a grown woman who is a responsible adult, and unfortunatly has a credit card balance, should just accept being spoken to like I'm 3 years old and need to be scolded. Accept that wonderful customer service because that's the way it is.

soggy
most credit card companies have "retention depts" because of all the offers out there
I love calling for interest reductions. I have had family members and friends ask me to call for them. They have to be there to give permission for the CC to speak to me.
I usually say I have received a BT offer and what can they do so I can keep doing business with them
I would say 90 % of the time it has worked
Karla

The people you speak with when you call the service center know NOTHING about you, personally. All they "know" about you is the "amount due" your account presents when they punch in the numbers. Their job is to collect the damn money! they aren't paid to pussy-foot around endlessly. Think about it, they do a thankless job 8 hrs./day/5 days/wk.!

They DON'T care that their "tone" may offend you. They don't care how "responsible" you may be... to them, you carry a credit card balance and that means you aren't responsible. You are just another debtor in their eyes. They aren't paid to make "judgement calls" and it's not fair to expect them to.

Of course, NO ONE should be rude when dealing with someone who wear's debtor's clothes... but how many lines of bulls--t do you think they listen to every single day?

If you feel you deserve a lower interest rate, then make your case in writing to the credit office! justify it, and stand by it.

Good heavens chelone such anger. Soggy had a question and you jump all over them
If you read soggys post they said they have never been late and they have a good credit score. If so when they called in they reached the customer service dept NOT the collections dept. The purpose of this dept is to provide CUSTOMER SERVICE. It appears that this company has many complaints against them I have a pretty good idea who they are. I would agree with taking my business elsewhere. I would also call the company and file a complaint, every time you call in your account is noted. I would make sure the "higher-ups" are aware of this persons rudeness. It may not make a difference with this company but it would make me feel better.
Get this CC make their money off of people that carry balances, they make even more money off people who are past due but that is a different issue.
Not everyone who carries a CC balance is irresponsible. I carry a balance and am far from it. Our cars are paid for we live in a wonderful home and my credit score is close to 800, 787 last check.. My DHs job makes it possible for me to be able to do the volunteer work I love.
I worked in the credit industry for 30 years not just collections but litigation and foreclosure. Yes I decided who was sued and who's houses would be taken away and I can tell you I was never rude to anyone. You could be "strong" but the companies never allowed the employees to be rude, calls were monitored. Many times I saw people written up or fired for rudeness.
Karla

Please don't presume anger. I have pointed out the obvious.

Perhaps it might be considered "tough love"... I did, in fact, read the OP's post. And I was simply presenting the other side of the issue (one with which you must be very familiar)... you can have a terrific "credit score" and still be very much "in the hole". Nowhere did I imply that the OP was "irresponsible". I simply pointed out the obvious... that the OP carries debt forward month to month. And that simple fact alone puts them into a category that (rightly or wrongly) elicits a "tough" reaction from a credit card company. I also pointed out that the credit card company sends out changes in terms periodically... and few of us bother to read them (I sure don't!), but once they've been mailed out, woe betide those who carry balances!

That is how companies like Citibank, Chase, etc. make their money!

Of course there is little reason for a credit card company to be rude to its debtors; let's face it, they want to get their money and will negotiate whatever terms will accomplish that end. I'll be the first one to stand up in defense of abused cardholders, but I see no real indication of that in anything posted thusfar. How do we know there isn't more going on here than we've been told, aside from bruised sensibilities?

Thank you Karla. I appreciate your input.

Many sources suggest calling companies to request a rate decrease, so I looked up the specific number to do so on their website. There was no need to speak to anyone in the collections department since, as I said, I am never late with anything. After speaking with the representative, I starting looking into complaints about this company. I found reps were rude to many people who also claim they paid on time and were never late with payments and had called to reduce their interest rates. There were also complaints about the company not crediting payments when received on time and their aggressive use of universal default. That's when I knew it wasn't just me.

I suppose my high interest rate is helping them sponsor NASCAR races and contribute to presidential campaigns, so I guess that should make it all worthwhile.

And, no, chelone, they do not know me, nor do you. I've worked various jobs dealing with the public, and I would never talk to someone in a belittling manner. Next time I make a call to a credit card company shall I tell them my balance is largely due to a family tragedy so maybe they'll feel sorry and be nicer to me? I doubt they'll give a rat's a$$. Maybe instead of trying to get a better deal to help pay down the debt I do have I should go to Macy's and shop til I drop.

The most important aspect of this thread is that the OP, who has never been late in payment has EVERY RIGHT to request (and obtain!) a decrease in the finance rate (s)he is charged. This is a "no brainer" for someone who is financially responsible.

However... we must look at the situation from the position of the "lender" (the CC company)... . Why? in heaven's name, would they willingly drop the rate of a cardholder who has never demonstrated any difficulty in making their payment?!! Come on, look at this from their standpoint (it will only bolster you arguement in the long run!)... why would a fisherman unhook an easy catch and release it on the hope it might take the hook again? It's people like the OP who make up the loss for people who routinely default on the obligations... people who pay their bills in full every month are termed "losers"... they generage no revenue for the companies that extend them terms every month! This is corporate business at its most ruthless... "fair" and "right" aren't part of the bargain, my friends.

I agree, you have every right and you have earned the courtesy of a lower rate... but you have demonstrated that you are fully able to pay and DO IT IN A TIMELY MANNER. You, are the "cream", and until you lobby and argue case BASED ON YOUR ESTABLISHED HISTORY they will continue to "blow you off" and dismiss you however they so wish.

Don't waste your time fussing about your "treatment"... go for the jugular... make your case, based on the history you've already established. Use your "clout", and get rid of the accumulated debt.

soggy bottom from (where?)

Some years ago I carried a tax-deferred retirement account with a stockbroker, where I was benefitting from them operating it without the usual annual trustee fee.

They were bought out by another company, which was bought out by another - you've heard of this "consolidation" in the corporate sphere?

They talk a lot about how competition keeps the market competitive - but they do their best to eliminate the competition on their own level.

Anyway, I was allowed to carry my trustee-fee exemption throughout - while I was paying into the account. At age 69, we must close out those accounts with various options available, the one which I chose was to carry on the account (with a different name) into which I could no longer make contributions and from which I was required to make annual withdrawals.

They proposed to charge me a trustee fee of about $125.00 annually ... as this was a different account: the former one had died, so this was a new ball game.

When I asked around, I found a couple of other agencies which would carry my account for no fee - I didn't find their service, being somewhat different, quite as attractive, and transfers would have cost me transaction fees for new investments - but there was no necessity for me to impart such information to the folks who were managing my money at the time.

When I brought the no-fee service available at the other investment carriers to the attention of the folks managing that account at the time ... they allowed as how they could match the offer made by the other agencies - so for the past 7 years, I've been paying no admin. fee.

If you contact some competitors, I'm sure that they'll make you an offer that will please you.

Then you can go to your current company and tell them that you've had some better offers - sometimes you can get 0% rate for several months: I'm sure they'd love to hear that message, if you can find such an offer at the moment: but if you find such, be sure to read all the fine print.

And don't make new purchses, apart from essentials, on that card, as they usually don't qualify for the low rate, so are carried with no reduction of principal owing and accruing interest at their regular rate until the full amount of the transferred amount is paid.

Since you are feeling as you are, you may choose to turn down a better offer from the current company, in any case. But if you choose to do so - make sure that some people further up the corporate ladder are apprised of the situation and your reasons. Do you know the name of the person who spoke to you? If so, write it down plus a digest of the conversation, while it's still fresh in your memory.

Had I been treated as you were, I'd probably have asked the lady whether I could ask her a question, then asked how long she thought that I should sit still and listen to her treating me like a three year old???

Or something else of similar ilk.

If you've read some of my posts, you'll have learned that I can be mischievous, at times.

May I make a suggestion? How about developing a bit thicker skin: what she did was what those folks may often do: it's just the way that business is often done. Don't take it personally.

And - if people get snippy, be courteous for a time, but if they persist, sometimes I ask if I can speak to a supervisor, as I find their attitude distasteful ... or I may figure that I may as well give back as good as I get.

In any case: don't sweat the small stuff. Life's too short, with potentially too many major problems, to let one's self get all bent out of shape over minor issues.

Chelone

When I read your post, while I agreed that what you were saying was accurate, I thought that you were being somewhat harsher than usual - did you get out of the wrong side of the bed this morning?

Maybe it's the heat.

Or maybe the cat scratched threads out of the carpet/chesterfield? Yeah - I know that should be "sofa" - I'm just old fashioned, I guess - please forgive my decrepitude.

Have a grteat summer, everyone.

ole joyful

All I asked was who to write to so my voice would be heard. That way I can write a clear, concise letter stating my displeasure. I am not one to start arguments over the phone or go in guns blazing, but when I've had enough, I've had enough. The problem with the world today is that everyone shrugs everything off, and if things such as common courtesy fall by the wayside, what's next?

My Attorney General will probably be governor come November, so maybe I will drop him a line. My junior senator may be president or VP in the next few years. Maybe I'll write to her, too. Not to mention the CC buffoon I spoke to as well as the company's CEO. And the affiliate associated with my card. Too bad I won't be able to get free shipping anymore....

Thanks for all the help, everyone.

No, OJ, it isn't the heat, nor was it the "side of the bed".

We all make choices in our lives. Some are good, some bad, some... eh... . We have to deal with all of them, however, whatever they are.

Those of us who are indebted are required to repay that which we borrowed. Failue to do so requires that OTHERS must pick up our unpaid "tab". Credit card companies make a lot of money by luring people into their web. While not unsympathetic, I have to say, tough! you gave tacit approval to the bargain every time you willingly signed your name on the line and deferred payment.

There has been much good discussion about debt, savings, and financial responsibility of late. While complaints may be legitimate, whining is not. If you feel you have a case, then make it. But pissing and moaning about an agreement you agreed to because you felt you received "condescending treatment" by the collection department when you asked for a reduction in the interest rate you were charged garners no sympathy from me. If you are really due a reduction then make your case, based on your history... and don't expect that a company who makes its money from YOUR sweat will willingly cede it. Be tough and stand right up for yourself. Back it up with numbers and your "history"!

This is how business "works"; "fair" isn't part of the agreement.

Those of us who are indebted are repaying, and why do you keep mentioning collections?

And I do not believe I have been whining at any time. If it makes you feel better to keep harping on the fact that I have a balance and and reaping what was sown, so be it.

As for unpaid tabs, if the CC companies really wanted to be paid back what was borrowed, they would give customers who are paying their bills a small break on rates. They are interested in the interest, nothing more.

I used "collections" simply in an archaic reference; "billing" might, perhaps, be more appropriate. But we're essentially talking about the same thing, you are interested in renegotiating the terms of the agreement you've already accepted (every time you signed on the dotted line).

You expressed dissatisfaction with the way you were treated when you called looking for a reduction in the rate you are presently being charged on the balance you carry forward every month. I don't blame you, I'd be pissed off if I was treated dismissively, too. I urge you to make your case, based on your steadfast, unfailing payment history! leave the dismissive treatment out of the discussion... it adds nothing to your "case". Offer your sterling repayment history and stick to your guns! you have earned a reduced interest rate. But the CC company will not give up a "gravy" debtor like you without a fight; you are "easy, guaranteed money" for them. That's a bargaining chip for you.

You started out grousing about how you were "treated"; only in successive posts did you offer your "history". You have a payment history to back up your arguement for a lower interest rate. But, as I've pointed out in the foregoing posts, don't think your credit card company is going to capitualte quickly, or agreeably. You, my friend, are the very sort of person that guarantees dividends to shareholders!

I'm on YOUR side, but you need to know how the "other" side views people like you... only then, will you be able to deal with them from a position of power.

Make sense?

This is ridiculous. Soggy, would you write to your AG if a clerk at the grocery store were rude to you? The CC has done nothing illegal or unethical; they just have a rude customer service rep. And of course they are only interested in the interest. That's their business.

Soggy, if you have a great credit rating why not just pay off the bill and be done with it? Could you take on a temporary part time job to earn enough to get it paid off? I'll back chelone on this one. Too many people complain, complain, complain. They know when they use the credit card they can either pay the amount due in full without interest at the next billing, or succomb to the rules of the CC world and pay interest. If I were a CC rep and someone repeatedly asked for a lower interest rate after being told no several times, I'd probably get a little testy too. It's like a whiny child who keeps begging even after they've been told no. Then by threatening to go to the AG or junior senator it's like running to daddy after mommy said no. Cut up the credit card, get it paid off and you'll feel a lot more free.

soggy - You at least went to comsumeraffairs, so you know what they had to say.

Maybe write to Office of Comp, State AG, possibly FTC. (Check that out - they may be able to direct you also to other sources)

Whomever you write, keep copies. Also, If you mail complaint, keep copies and mail "Certified, Signature Required".

(ALSO, if it's only a P.O. Box - I learned a long time ago that you CAN send "Certified / Signature Required - despite what many tell you. The P.O. told me that a currier picks up mail fm P.O. and delivers to the big companies, and collects the SIGNATURES. I did it once, and it happened!)

I cannot believe the rudeness here over a simple question!

I don't even use the term "Customer Service" these days...I use "Customer DISservice". That's how things (sadly) have been for a long time now - not just CC's, but everywhere!

I'd call again for rate reduction. If they say NO, which Customer Disservice almost ALWAYS does, (probably b'cuz they have no authority), ask (demand if need be) to speak to Supervisor. If "NO", ask for Manager.

If you get nowhere, consider any other CC offers you may receive in mail to do a balance trf.

Whenever I do such a thing - especially if it's a new acc't (which I have NOT done for a few years), I do NOT just apply for the card thru that "return this portion" method.

What I've alway done is collect all info, CALL them on Phone, tell them I got the offer and I would like to do a Balance TRF of XXX amount of $$$.
I also tell them that if I cannot get approved for that amount MINIMUM, I do not want an account.

I have always gotten approved. (Some have even approved me for WAY MORE credit line than I want.)

I NEVER apply, then wait to see IF approved, then go back to to Bal Trf. I tell them on phone what I want and what I want to do.

If you pay you bills on time every month, and have xlnt credit, I see NO reason for the rates not being lowered - except for MAYBE one reason:

OPRAH had that "Debt Diet" show, and I predicted all the CC companies getting billions of calls per day because of it. Who knows, maybe???

My SO had a bad card awhile back. They would NOT bend, even tho he had paid on time every month, and more than min due. His credit was good. He called several times over a two year period.
Finally, I had him call while I listened on another phone. I would tell him what to say. They still wouldn't give. I told him to tell them he will close his account. He closed his account.

I had an offer at 2.9 % till paid in full (with a zero balance at the time) and IMMEDIATELY I called and had the balance trf'd over. (They had his rate in the 20+ % range!)

We keep getting offers from that company, and we will NOT do business with that company again!

If all else fails, perhaps you could get an unsecured personal loan at a lower rate?

I am amazed at all the nasty remarks here for an innocent question. I THOUGHT these forums were to help...But, that's what I get for thinking.
(You're not alone, I see it all the time.)

soggy,

Do you have a good connection with a credit union or bank?

What'd be your possibility of getting a loan from them? If unsecured, probably somewhere around 10% - almost certainly a lower rate than you're paying now.

If you own some mutual fund or stocks for which you are holding certificates, lodge them as collateral - or a (whole life) insurance policy with some cash values built up, you could probably get a loan at 5 - 6% approximately. Whole life insurance policies should do something to at least partially justify their high prices!

If you own mutual funds or stock in companies with only documentation in the broker's computer - maybe have them issue certificates, if you plan to hold them for a while.

The $35. - 50. or so fee would soon be made up by the difference in interest cost, if you have any sized balance owing on your "credit" (really "debt") card.

Pay the darn "credit" card company off in full.

Just one proviso - when you get the "credit" card balance paid off - don't succumb to the temptation to use it to go out and buy a lot more stuff!

Just remember - when you get the "credit" card balance paid off - don't succumb to the temptation to use it to go out and buy a lot more stuff!

Don't forget, now ... when you get the "credit" card balance paid off - don't succumb to the temptation to use it to go out and buy a lot more stuff!

If you do - you'll have two debts - one at a lower rate of interest cost, and another at a high rate of interest.

There's a 6-letter word for that - S-T-U-P-I-D.

Hope you're enjoying a really great summer weekend.

A local KT (Kitchen Table) resident and I are looking forward to coffee with another KT person who's coming to our city tomorrow.

ole joyful

The rate is the rate. You knew it when you borrowed, now suddenly you want time off for good behavior? Who cares what your credit score is? I have an astronomical credit score. When I go to the store I don't demand a discount!

The contract you signed says they can raise your rates. Maybe it wasn't clear or not a problem to you at that time, but it isn't illegal or anything. I'm sorry you had a bad customer call center experience, but life goes on. My suggestion would be to stop spending money you don't have and pay off the debt you do have. And don't waste time writing your Attorney General. That seems almost childish. Seriously.

Soggy,

You are the CC companie's customer and they are making money from you. Bad customer service is unacceptable no matter what the situation. If you have the high credit score you've mentioned, then I'm sure you have been solicited by other cc companies. Instead of writing letters, find one with a better deal and transfer your balance.

CC companies won't change because customers complain about the contract they agreed to. Even if lots of customers complain. They'll change when the old model of doing business becomes unprofitable.

I hardly use my card any more. I use it for gasoline, because I get A whopping five-cent discount for paying at the pump. If I can't afford to write a check, I can't afford *whatever*.

As some one who has had a sick pet, an unhelpful spouse, colleagues who had "vacuumed" the entire store without noticing that a) nothing was being picked up, and b) the bag was full, and a boss reprimanding me for his mistakes because his son got arrested for DWI (all in one day) I have occasionally, acted in a less-than-stellar way on the phone, myself. Glad no one made a federal case of it.

Soggy,

Unfortunately, due to the many mergers in the financial sector, one customer with a complaint about rude phone service does not really matter to anyone. It's not a violation of lending regulations to be rude, so no point in writing/contacting the feds...it's not nice, but it's not against the law.

The best thing you can do at this point is to shop around for one of those "transfer your existing card balance to a new BankX card, at a low rate, fixed-for-life" products. Transfer the remaining balance from your existing card to the new card and pay off the balance and do not use the card again. If it has an annual fee, close it out.

But be sure to read the fine print on any new card or you could end up with a worse rate than you have now.

And make it a point, once you pay the debt off, never to revolve credit card balances again. It's a very bad practice. I know, been there done that...unfortunately.

When contacting my CC, I always ask for the rep's name, employee I.D., and city BEFORE I state the nature of my business. I started doing this after I was hung up on by a rude rep who's name I didn't get. No one with a good credit score and excellent payment history should put up with this. I don't care what side of the "bed" the rep got up on, if I'm being polite and courteous to someone, I expect as much in return.

Who to complain to. You might try a vice president or other high ranking executive in this company. Try Googling the company under "investor relations". Send a letter to someone a rung or two below the CEO detailing your experience. Make it short and sweet. Sandwich the complaint between the things that you DO like about the company. Tell them what you expect. If this doesn't work, I would vote with my wallet and switch companies.

Chelone-
How do you think Martha Stewart might have responded to this post?

Martha Stewart should still be in jail, IMO.

She knew exactly what she was doing when she was doing it.

I care nothing for the opinions of someone who flouted the law and received little more than a slap on the wrist.

OK! I watched Oprah today (my boss told me the week would be devoted to money management, a subject we both hold near and dear). It featured 3 couples/families in serious debt. Each one will be counselled by a financial expert.

One of the experts, a man, has focused his approach on "how to play the credit card game"! I thought of this thread immediately. He spit out some numbers that were frightening and illustrated quickly how crippling credit card debt can become in a very short time; one of the points he will cover this week is HOW TO RENEGOTIATE your credit card's interest rate for the long haul; also the perils of "easy", department store credit.

Thought this might be of interest (no pun intended). Many may fancy me "mean", "tough", but certainly I am no more so than the credit card companies who "own" you. ;)

If you have not called back, call and speak to a manager. If that doesn't help. Apply for a 0% interest credit card online. It is easy to do and they do all the balance transfers for free. (just remember, you still have to pay at least the minimum fee on your old card until the transfer goes through). If you are not happy with your card get rid of it.

soggy,

If you choose to transfer to another company who's giving a better offer - be sure to let the company that you're leaving know your reasons.

And not just some low-level flunky.

Let someone higher up in the organization know of your dissatisfaction and the reasons for it: you made a legitimate request and were not only refused, but were treated rudely.

So - you're gone. No longer a client, customer, sucker or whatever else they choose to call you.

No more business. Period.

Have a happier week.

ole joyful