It's a lesson in this consumption-oriented society that it always pays to ask. I use credit cards frequently but always try to pay them off monthly. I just paid off a big balance on one card and noticed that my interest rate was absurd (13.5%). So I called, fully prepared to close the account if they didn't give me a much better rate.
I had recently shifted online payment banks and had entered the wrong account number. Their system equated my attempt to make an online payment with the wrong number as an "insufficient funds" and charged me $35. Because it was a mid-month payment, it took me a few weeks to notice it.
So I asked for a refund, and after talking to a supervisor, got it. Then onto the matter of the interest rate. They offered 11.5%. Not good enough I say.. can you do any better (channeling my uncle the finance whiz). The supervisor comes back with "we can give you 6.99% as a special rate".
Sold, says I.
It never hurts to ask. And be prepared to walk away.
Posted by artandscience at March 19, 2008 06:45 PM