Mrme487 ยท 1 points ยท Posted at 01:26:24 on March 22, 2018 ยท (Permalink)
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chach_86 ยท 3640 points ยท Posted at 20:23:27 on March 21, 2018 ยท (Permalink)
Every once in a while my mom will get in a "mood" and call her CC, cable, cell phone, insurance, etc... provider and try to wrangle whatever deal she can get out of them. She's been pretty successful in the past.
I told my cable company to lower my bill or else I was leaving and they said โok byeโ :| ... silver lining: thatโs when I became a cord cutter and never looked back!
I moved to a neighborhood that has unlimited gigabit fiber locked at 85 dollars for life. My God has it been so amazing. Cox used to crash once a week which would require a phone call to fix and after switching never had to call and the longest crash has been 15 seconds. Which has happened twice in almost a year.
I live in Alaska. I told the cable company I was done and went with DSL for $80. 30 Mbps but no data cap. It's enough to stream 4k, which is enough for me.
I lived in one of those. My neighbor was written up once for painting his mailbox a slightly darker off-white. Be friendly to your neighbors, cause it can get brutal.
Reminds me of my neighbor that tried painting their garage and it look like they just smeared shit all over it... I didn't report them but I'm sure it won't be long before someone does.
As long as you're not being my house value down or not allowing me to sleep, I dont give a shit what you do
Journier ยท 20 points ยท Posted at 00:33:17 on March 22, 2018 ยท (Permalink)
To be honest, Its entirely not, and i highly regret buying in a HOA, its a terrible idea, I have to send in a letter to get approval from them for almost everything minus flowers and bushes. If i want to plant a tree i have to submit an approval letter. Paver bricks, Approval letter, New front door? Approval letter. Changing the color of my front door? Approval letter.
But I do have access to like top 10 schools in my state for elementary and high school from this subdivision, but i dont have kids but my house value has appreciated quite well since purchase. so when i get ready im gonna sell it and move back out to the country with shitty 50mbps internet. I had 56k internet till i was a man, I can handle it.
bgi123 ยท 4 points ยท Posted at 01:51:28 on March 22, 2018 ยท (Permalink)
I have an HOA also, but I just do whatever and they can complain to me later.
It sounds like it definitely has it's trade offs, someone willing to deal with approval letters would probably love it just for the top 10 schools in the area.
Maybe you can find a way to get the best of both words in a smaller suburban town... I know of a few like me that are pretty great if you don't mind dealing with Time Warner/Spectrum.
I like living in an HOA. A house is most people's largest investment, and I like that my neighbor can't fill the yard with random dumpster sized bins of trash. I've seen houses lose 30% of their value because their neighbor does something crazy. I've never had an issue with the HOA. I'm sure bad ones exist, but I haven't had that experience.
RevGrimm ยท 31 points ยท Posted at 00:07:19 on March 22, 2018 ยท (Permalink)
I didn't even hear they were working on 5g tbh. But HQ is here and if my memory serves me correct Dallas is usually in the first few waves of rollouts
[deleted] ยท 1 points ยท Posted at 03:29:52 on March 22, 2018 ยท (Permalink)
Yea it's one of the 5 cities they were talking about rolling it out to first
[deleted] ยท 1 points ยท Posted at 05:35:47 on March 22, 2018 ยท (Permalink)
What are the other cities? I live in San Antonio, Texas and itโs pretty big but for some reason doesnโt get as much attention as other cities in Texas
[deleted] ยท 1 points ยท Posted at 13:04:38 on March 22, 2018 ยท (Permalink)
Oh actually there's an alleged bigger list and I mispoke, they're looking at Houston and Austin.
"CenturyLink may change, cancel, or substitute offers and services, or vary them by service area, at its sole discretion without notice."
"To the extent allowed and effective under applicable law, CenturyLink may [...] (i) increase MRCs and/or NRCs, (ii) change the Service and/or this Agreement in a way that directly results in a material and adverse economic impact to you.."
"Material changes and increases to the monthly price of the Services shall be effective thirty (30) days after CenturyLink provides notice to Customer [..] CenturyLink will not provide notice of changes to promotional prices, offers, and applicable taxes, fees, or surcharges (unless required by law or regulation)."
I canโt wait for this, I live in one of two or three small towns where a company by the name of Ting is setting up a fiber optic network. Theyโve said the price will be like $85 a month forever with no price increases or dumb little fees and taxes. They should have my neighborhood up and running by year end and Iโm so excited to call Comcast and tell em to screw off.
I cut the cord for 2 years, Comcast didnโt care I was leaving. I have Unlimited with Sprint. Eventually Sprint started throttling the shit out of me, I blasted them on Reddit, Twitter, and FB daily. Nothing helped. I was being throttled even during non peak hours. Just got Comcast back at $30/month. When they decide to raise my rate, Iโll just cancel them again.
Hell I wish I could get locked into a limit if it meant having speeds higher than 1.5mb : / Only recently managed 45$ for life for 1.5, for years they've been charging us 70$+ for only 1.5 and a phone line that doesn't call out, except for 911. Only recently, it miraculously came to be that we didn't need to purchase a phone line, despite from the very beginning making it clear we had no need for one or later requesting to drop the capability/number...
People clammer on about cable monopolies, but wutbout DSL monops!!?
All satellite internet (here, at least) has data limits, and cable/fiber internet options often have "soft" limits in the fine print. I think in my area, Comcast says something like 400GB/month, and if you go over it too often they threaten to cut your service? I've toed the line, but never crossed over with my normal use, so I don't know exactly.
[deleted] ยท 1 points ยท Posted at 16:40:03 on March 22, 2018 ยท (Permalink)
Hmm interesting. It may have been like that here back in the early days of the internet but it's unheard of in my country now. I mean to be honest I have no idea how much I use per month but I don't imagine it's anywhere near 400gb/month. Who knows... I have no idea how much data playing online video games uses, not including downloading games or other things.
My uncle could[n't] even get Comcast. They had some really crappy other service that only let them get up to 5/.1 Mbps. They had tried contacting Comcast for years to get them to run a line up the road (they live in a dead end street, and the road it connects to has Comcast) but they wouldn't.
Then one of their neighbors gets elected on the city council and starts asking around about if people want them to start laying down fiber optic.
Word reaches one woman who also lives on the street. Come to find out, she's the wife of a higher up in Comcast.
They lay the cable that week.
My uncle now has Comcast and is still pushing for fiber.
Sports is a big part of it. I donโt think itโs possible to watch sports teams of the area you live in, since local games are blacked out of you buy a hockey/baseball/football package.
And you would get cable programming? I have an antenna that gives the basics, but all of the baseball hockey games in my city are on a cable channel except for a handful of games.
Pretty much same here. Was paying $150 a month for bundled cable and internet. I was moving to my first house from apartment living. Called them up and said I've been a loyal customer for almost a decade, and when they transferred my service if there was anything they could do for me. They said nope, so I told them I was dropping cable. They didn't even flinch and so when I transferred service I only transferred internet. Saves me a hundred bucks a month and I've learned I don't really need cable.
you didn't say bye... You use them for internet. I haven't had cable tv in at least 5 years. I forgot that was even a thing still. I have an antenna up on a tower + plex DVR + MCEBuddy and playon. I rotate video subscriptions and have a big server
[deleted] ยท 0 points ยท Posted at 01:57:09 on March 22, 2018 ยท (Permalink)
I didn't say anything about internet for free. I pay $75/mnth for my 100Mb down 10 up. I live in a comcast cap region (chicago) so I have to pay the $25/mnth uncapped fee. I hate comcast but they're far superior to my only other option (frontier) who doesn't offer faster than I think 20Mb. antenna on tower is for tv. Long range wifi just doesn't work unless both sides are using some high end directional equipment.
Just snipped the cord (mostly) to Verizon. Fuck them. I called threatening to cancel cable if they couldn't just match what I was previously paying, If I renewed my contract. Nope. Counter with a $30 increase for the same service but maginally faster speeds. Like 50/50 to 150/150 (it seems way faster, but gigabit is $90 for new customers.) I went with just the internet for like $60 and refuse to look back. I'll stream illegally all day with the fire stick. Fuck the establishment, man.
Iโm a huge advocate for getting rid of cable TV. Just use Internet. I honestly only watch football, March Madness and local TV. I can usually find live streams of games I want to watch here on Reddit, and have an HD antenna for local channels.
I honestly have no idea how much cable TV costs anymore, but Iโm sure itโs way more than $100. Fuck that.
This happened to me once too. I called them and threatened to go to a competitor. I told them when I planned to start with the competition. They said thank you for being a customer, your service will be off that day. So I called back and spoke to someone else. They were more willing to retain my business.
Cainga ยท 1 points ยท Posted at 17:56:30 on March 22, 2018 ยท (Permalink)
Itโs kinda funny how on TV they thought they held all the power when they really didnโt. Digital antennas and streaming services offer a better cheaper experience. Too bad they still have all the power on the internet.
rezachi ยท 1 points ยท Posted at 01:00:13 on March 23, 2018 ยท (Permalink)
Similar story here. I called Charter about a price reduction and they said no. So, I called Dish network, set up service, and called Charter back to put an end date on my service. At that point, they offered me the world. I calmly explained that we already had this discussion, they said nothing can be done, and I made decisions and spent money based on what they told me, so I was not interested in throwing that money away.
Doesn't cord cutting mean you swear off internet? How are you still on line?
Decyde ยท 31 points ยท Posted at 21:50:43 on March 21, 2018 ยท (Permalink)
You have to talk to the cancellation department a lot of the time.
Ask them how long you have to be unsubbed for before you can get a new account with them at their new customer price.
A lot of times that person will just give you the new customer price for a year so they can put down they retained the account and it's not like they were losing anything.
I think it's like 30 days for most places but if you have a friend who is willing to let you use their name on an account, you can cancel today and then sign up with a friend tomorrow at your address and then just swap back in a few months.
DO NOT tell them you're doing that or they will note it and deny a new customer at that residence for 30 days.
pj530i ยท 2 points ยท Posted at 18:35:08 on March 22, 2018 ยท (Permalink)
The Spectrum cancellation person I talked to recently didn't offer me anything, even when I outright told her that I was going to cancel and have my roommate call in 20 minutes to establish a new account. All she was allowed to do is read off a script that promotional rates are for new customers only. She seemed mad when I asked to proceed with the cancellation.
It will be interesting to see what happens when the roommate has to call and ask for an extended promotional rate later this year.
Comcast told me it was 6 months. He may have been bluffing, I was willing to cut it for a month while we were moving house. But he sounded pretty serious.
Boop489 ยท 1 points ยท Posted at 06:05:02 on March 22, 2018 ยท (Permalink)
Kravego ยท 61 points ยท Posted at 22:09:11 on March 21, 2018 ยท (Permalink)
If legality isn't an issue for you, streams are readily available.
salgat ยท 27 points ยท Posted at 00:45:30 on March 22, 2018 ยท (Permalink)
Too bad it's a pain in the ass. Yeah I know reddit has subreddits for that, but it's just annoying having to track down a stream of varying quality every time you want to watch a game.
I can't speak for any other sport but the /r/nflstreams never let me down and I watch a small market team. I was dreading the same thing when I cut the cord but I haven't missed a game yet.
Ed-Zero ยท 2 points ยท Posted at 04:02:59 on March 22, 2018 ยท (Permalink)
If you look in the sidebar of that sub, they have a whole list of other sports streams
mbx220 ยท 1 points ยท Posted at 17:17:12 on March 22, 2018 ยท (Permalink)
r/lazyman for hockey and MLB. It's the end all be all.
Between streaming and using a TV antenna we don't miss much over here!
Cainga ยท 2 points ยท Posted at 17:59:55 on March 22, 2018 ยท (Permalink)
I tried XBMC which was ok but a very frustrating experience. The reddit streams usually give me what I want but sometimes disappoint me. Cable is still the best sports experience by far but is no way worth the price point for my consumption habits.
Subby13 ยท 4 points ยท Posted at 01:44:23 on March 22, 2018 ยท (Permalink)
Unfortunately, with the increase in cord-cutters, a lot of those streams have slowed down in the last year or two to the point where I miss about a half hour of each game jumping around to different streams. They also seem to get shut down with higher frequency.
NBA, MLB, and NHL streams are still outstanding, though.
Well thats what i'm referring to. There's no twitch-like service that allows for simple, legal streaming of live sports in the US. There's Sling, but I haven't heard great things about it.
[deleted] ยท 2 points ยท Posted at 00:35:35 on March 22, 2018 ยท (Permalink)
Most places it's not illegal for you to stream that stuff, it's just illegal for whomever is hosting it.
I used Sling for a couple of months last year for NBA Playoffs, and it worked just fine. But I did see a lot of bad reviews when I signed up. And I didn't have it for very long.
Just in case you're considering cord-cutting and catching playoffs only, you've at least heard one success story.
I cord cut years ago, but I watch games at my friends places or at bars so its not the worst. I only marginally care about sports though so it wasn't even part of my decision. For a lot of people, though, it's a big deal.
Problem is YouTube TV + stand alone internet from Comcast costs me the same as just getting internet + cable from Comcast except I get faster internet if I bundle them.
This. I don't understand how these people are just saying get internet only . Its literally the same price as getting a package here if you want 50mbps or more internet
I haven't had cable for nearly a year and haven't missed a single live sports event I wanted to watch. Between Sling & my over the air antenna, I am covered. Granted, Sling is a OTT service owned by DISH, but I still only pay a fraction of what I did with Spectrum.
It has a number of channels that air it. I would look on their website. Directv Now is another option but slightly pricier
1379731 ยท 1 points ยท Posted at 00:24:37 on March 22, 2018 ยท (Permalink)
There are a number of tv streaming options that provide ESPN/Fox Sports/Local channels - all pretty affordable IMO. Much more affordable than a cable bill - I switched to internet only a little over a year ago and haven't regretted it for even a second.
So what your saying is, when Disney puts out their new ESPN model, I need to short comcast?
[deleted] ยท 1 points ยท Posted at 01:55:05 on March 22, 2018 ยท (Permalink)
YouTube TV and DirecTVNow Iโm pretty positive have sports packages. Those are treated the same as a Netflix subscription, cancel any time no contract and I think they both start at about $35 a month and include on demand with live TV and I know for sure you can use the DirecTV now log in for any of the networks apps/sites that youโre subscribed to through the package you chose. They both offer free trials too.
sloth2 ยท 1 points ยท Posted at 02:20:12 on March 22, 2018 ยท (Permalink)
Lucosis ยท 1 points ยท Posted at 02:43:39 on March 22, 2018 ยท (Permalink)
Youtube.tv is $35 a month, gives you all the major networks, TNT, TBS, ESPN, and you can buy NBA league ticket, and presumably NFL when that season rolls around.
in 4K, please. 1080p streams make my eyes bleed sometimes. Although I think Sling has a decent sports package, and PS Vue seems to as well. What are you looking to stream?
Well that day already exists because reddit has stream subs for every major sport in HD. I havenโt paid for a ufc card in years and stream that shit for free in glorious HD. About to cut cox cable because theyโre a bunch of cox suckers.
People just arenโt interweb savy and realize these streams exist.
sml09 ยท 1 points ยท Posted at 05:51:48 on March 22, 2018 ยท (Permalink)
Amazon prime is already starting on that! Last season you could stream Thursday night football or st (not a football fan but I saw the banners)
It will never happen. Comcast is only part of the problem. NCAA, NFL, NBA, MLB, NHL etc etc etc are making the decisions here. You really think they are just going to walk away from billion dollar deals to let us stream 'any sports' we want for free online? Nope...we will just end up paying 12 different organizations....then STILL have to sit through targeted ads.
I personally give zero shits about crappy bootleg streams. And neither does anyone else. Which is why no one cuts the cord due to sports being easier to watch on cable.
I wish Netflix would put up like a "My channel" thing.
Like take all the shows I've seen or shows I add to it and play random episodes randomly.
It's nice to be able to turn on cable and watch a random episode of let's say Criminal Minds that I've seen before, e.g. S6E5. Going into Netflix now you have to select an episode and personally I hate picking out a episode. I'd never randomly pick S6E5 because I feel like I should start from the beginning but no one has time to watch all of Criminal Minds again. Random episodes are awesome though.
I might be odd though. I personally don't like Spotify and perfer Pandora Because I like the random radio aspect. I know Spotify has a Radio option like Pandora but then I feel like I should be picking out songs I want to listen to rather than just going with the flow.
if you're still buying internet from the cable company, how are you cutting the cord? You're just using a different cord.
xixi2 ยท 3 points ยท Posted at 00:12:24 on March 22, 2018 ยท (Permalink)
Sometimes you're using the same cord... idk what the guy was talking about but it's pretty common for redditors to not have cable TV.
Not having internet is a bit more rare.
red-bot ยท 1 points ยท Posted at 23:38:23 on March 21, 2018 ยท (Permalink)
Look into getting an antenna. I get between 30 and 40 channels. Most of them are shit, sure. But! I still get the basic news channels, pbs, and the rest. Worth a shot.
mylarky ยท 1 points ยท Posted at 23:39:36 on March 21, 2018 ยท (Permalink)
I totally would, but my TV is from 2007, just before the HD rf change. Last I read is that I would not be able to receive without an additional converter box.
red-bot ยท 3 points ยท Posted at 00:03:02 on March 22, 2018 ยท (Permalink)
Cancel Cable --> Wait 3 Months --> Treat yourself to a new TV with the money you saved!
Plex media server!!! I use that with Roku. Every movie or tv show I have digitized on any tv in the house. It even gets the meta data right off the web so you know episode info and everything. Also, itโs free!
Cable companies are 'over it' too. Programmers (content providers) are the only ones making money on cable TV. Everyone has been screaming for an a-la-carte TV solution for years....be careful what you wish for. Instead of paying one provider for everything, we are slowly going to be paying 6 providers....or we could just read a book instead I suppose.
That's not automatically true. Most places I've lived, the internet + cable packages are generally about $20 to $30 more than just internet. At that point, you gotta ask whether it's worth it for the shows that aren't already on Hulu, live sports, live events, etc.
And the first year deals for cable+internet tend to be roughly the same price as internet. I usually get both cable + internet if I'm moving into a new place. If I stay in a place for longer than a year, and the promo price expires, that's usually when I "downgrade" to internet only.
Netflix is a fair value but also so limited. You also need Amazon video, Hulu, HBO now, and will still have to purchase most movies separately through Vudu or something. And then you still don't have access to sports.
I haven't even noticed that I cut the cord a year ago. Netflix is so vastly superior to cable in every conceivable way that cable looks like a fucking joke.
odd84 ยท 1 points ยท Posted at 23:38:02 on March 21, 2018 ยท (Permalink)
Netflix is so vastly superior to cable in every conceivable way
That's a bit of an exaggeration. It's not hard to "conceive" of a way in which cable TV is superior to Netflix: about 3000 new TV series per year that air on cable but Netflix won't carry for a year or more if ever. Maybe you don't care about watching current television, but you can certainly "conceive" that others do.
Hulu is more akin to a cable subscription than Netflix, which is basically HBO with a bigger library. You wouldn't compare one channel to all of cable and network television. Hulu carries most network television and a large selection of cable television and you can watch it same-day or next-day after it airs live.
I'll just watch those shows on Netflix though, with no commercials, and no waiting for the next episode to release.
It's laughable how you can try to defend cable as being worth a damn.
gdq0 ยท 9 points ยท Posted at 21:46:55 on March 21, 2018 ยท (Permalink)
I've never lived in an area with an actual monopoly on internet.
Back when internet was optional we had a broadband monopoly for a little while on cable, and that lasted a good 8 years, but then we got fiber from a local ISP and I was able to put them in a bit of a price war (unfortunately cable usually won). Never looked into DSL at that point.
Now I've at least got cable and DSL I can swap back and forth on every year, I just have to deal with centurylink every other year unless I can talk one of them into giving me $40-50 40/5+.
katarh ยท 1 points ยท Posted at 15:47:20 on March 22, 2018 ยท (Permalink)
The issue is that the DSL in our area has not been updated so our choices are cable with decent speeds (60 down, 15 up) or DSL with 20 year old technology speeds (6 down, 0.5 up, and it slows down intermittently at random times for unknown and never explained reasons.)
The DSL is not significantly cheaper than the cable. So cable has an effective monopoly on Internet, since the DSL is not a comparable service.
fooke33 ยท 7 points ยท Posted at 21:46:56 on March 21, 2018 ยท (Permalink)
Cox is seriously the worst, I hate them
Kravego ยท 17 points ยท Posted at 22:10:52 on March 21, 2018 ยท (Permalink)
Nowhere close.
I mean, no big ISP is great, but you can't really compare Cox to ATT, Verizon, Spectrum or whatever the fuck they're called now, and especially Comcast. The shittiness scale reads off the charts for all 4 of them lol.
So funny. It must be incredibly area specific. I've had Cox, Time Warner (Spectrum) and ATT over the years. Cox has consistently been the best of them all in terms of up time and speed consistency.
ATT was practically unusable between 6PM and 8PM. When it rained, forget it.
Time Warner was great but their top speeds weren't the best. Up time was good though.
Verizon used to be shit, especially on customer service. Then over the years they became amazing. Then they got bought out by Frontier and it's worse than Verizon ever was.
cjthomp ยท 1 points ยท Posted at 04:22:05 on March 22, 2018 ยท (Permalink)
If Cox is the worst you've dealt with, you've lived a charmed life and I'm jealous.
I used to work for a call centre in canada that dealt with Cox cables inbound calls. I always finished my calls with "Thanks for choosing Cox."
Sometimes when people would complain my response would be "I'm sorry that Cox seems to be giving you a hard time" Needless to say my manager wasnt too happy when she listened back on my calls and wrote me up as consequence.
You should be mad at the legislators who made competition illegal.
MechE13 ยท 2 points ยท Posted at 15:20:45 on March 22, 2018 ยท (Permalink)
COX is such a cuck of a company. If you try to just have internet they upcharge so much. I just moved 2 hours north of where I lived and now I have Spectrum. Same exact service for about 50% of the cost. How is that shit legal when you have no choice?
I see. That's a shitty problem to have. I ran into the same thing living out of town. You don't want dish internet, it's fast but you will hit your data limit in a week and be without internet for 3 weeks.
You have to get pretty far into cancelling with Cox but they will do it. Maybe tell them you are getting LTE or satellite. I have no other digital cable provider here, but I just use internet and a relative just switched to century Link (qwest) DSL because it was so much cheaper and when he was calling to really cancel they offered him a much lower rate even though he had called previously asking for it.
After 3 years of this threat, my shit cable company stopped believing me and stopped reducing my bill. So, I cancelled. Saving $150 a month. It has been 2 weeks and I haven't once missed it. I probably could have cancelled it years ago and taken a trip with the cumulative savings.
upcboy ยท 1 points ยท Posted at 00:15:10 on March 22, 2018 ยท (Permalink)
Call and talk to the cancellation department not the billing. They usually have ways of lowering your bill down to current advertised rates.
I just let another provider move in. I call ATT DSL and say I just got cable one, its faster need to cancel, They both fucking suck in my area but It gives you a much stronger hand with ATT when you tell them you already have another service. If they give you a really good deal then you can cancel the new people and get your money back, usually YMMV
Bill Cutterz was able to get me a higher speed for lower cost. They split the savings with you for the first year, and if they negotiated a longer term the rest of those savings are yours. Internet was really the only bill that I had that it made any sense.
s8l ยท 1 points ยท Posted at 01:45:05 on March 22, 2018 ยท (Permalink)
I got sling and told my parents to cancel their tv subscription, it was up at around 50 bucks. She had called before to cancel and they would give her 3 months of HBO or drop the bill for a few months.
Anyways, they love this setup more now and I can adjust stuff whenever I want and also watch tv from wherever.
So yea, even if there is a monopoly in your area, there really isnt.
I usually say "I notice you have this promo rate for new customers could you give me that rate as well?" Half the time they say sure, but once in a while they will say they can't. Then I say, well then I guess I will cancel and sign up again in my wife's name. So he transferred me to retentions, I tell them I want to cancel and have my wife get the promo rate since the customer service rep wouldn't help me out, and the retentions guy said " yeah they are dumb, here you go done. "
kwitit ยท 1 points ยท Posted at 01:55:05 on March 22, 2018 ยท (Permalink)
Look in to Youtube TV.
$35 a month for cable TV with unlimited DVR on the cloud. I LOVE IT!
I did this with an ISP one time and they were like here's their number GL man
Hshbrwn ยท 1 points ยท Posted at 02:08:49 on March 22, 2018 ยท (Permalink)
Hey new friend. I also hate cox cable!
weables ยท 1 points ยท Posted at 02:14:51 on March 22, 2018 ยท (Permalink)
Still worth trying to bluff. I only have one ISP in my area worth a damn, but I'm pretty sure company policy requires them to send you to retention if you ask to disconnect no matter what, so I still get a good deal doing it. Annoying having to do it every year though.
[deleted] ยท 1 points ยท Posted at 02:21:14 on March 22, 2018 ยท (Permalink)
Yeah, Cox Cable doesnโt give two shits. I was paying $85 a month for their 150 mb cable internet. AT&T came in and installed gigabit fiber in my neighborhood and is only charging $80 a month. I called cox and told them that Iโd be more than happy to stay with them and even pay them the same higher monthly fee if theyโd agree to bump me to their fastest 300 mb plan for the same monthly price. I thought it was a totally fair deal considering AT&T is charging less for 7 times the speed.
They said no. I even escalated it to their executive group thinking someone with a freaking working brain must work there. They also said no.
They were dumbfounded when I called to cancel. They sales rep kept trying to just get me to downgrade my plan to their cheapest and slowest was an excellent solution for me despite telling them multiple times I already had a working gigabit connection in my house.
This gets lost everywere, im in comcast land, a year ago they "upgraded" their system, even retention managers have no power if the option isnt listed, yiu dont get shit. Before they had freedom to do almost anything, now, pretty much zero. They are losing even more people and cant figure out why...well u fuck heads you took thw power away from thw people keeping people.
It sucks, even for the employees, but for those that read thia reply, when they say no, ita beacaue there isnt ahit they can do. They gey commision to keep you,its not a lie. Even in a near monoply i cant beleive a company could be so fucking stupid.
This is from my wife..who works there and does important shit, not some new c/s rep. If its not in the system, thee is no option, prior they could make their own adjustments with a tolerance, so yiu call to cancel, yiu will probbaly cancel, and they caught on, by jacking internet up, you wanna "cut the cord" go ahead but your internet is now **200/ mo ( i have no idea making a number up) sure you get all your movies and shoes on whatever, but mo.internet, no.shows, so fuck you customer.
For those around long.enough, remmeber when text cost money but data was freee? Now everything is data and they just keep jacking the cost, these.companies are stupid, they will get your money, so cut your cord and still pay out the ass to get content.
Rant over. Also yes, 20yrs in the business, credit card companies will usually pu you in anything that you qualify for. Always call them, there are to many. If it gets down to 2/3 companies the same shit.will happen, oh dontlike it? Fuck you. You wont do better..im shocked it hasnt happened yet tbh
ciezer ยท 1 points ยท Posted at 02:46:15 on March 22, 2018 ยท (Permalink)
Same happens in my city in south Argentina, the internet-cable-phone company doesnโt allow big internet companies to provide their services in my city (cause is a โcooperativeโ), and their internet is proper shit unless you work for an Oil company ๐
Waynok ยท 1 points ยท Posted at 03:30:40 on March 22, 2018 ยท (Permalink)
Cox is without a doubt one of the better shitty cable companies. I guess that's not saying much, but you best thank your lucky stars you aren't forced to deal with Time Warner or Comcast instead.
[deleted] ยท 1 points ยท Posted at 03:32:25 on March 22, 2018 ยท (Permalink)
Cox is pretty decent on giving discounts. They're sometimes difficult to get to the point, but they will do it. Here's a tip: If you're talking cable, mention switching to satellite or some other provider, even if they're not that great. If you're talking internet, mention your cell provider, or any cellular provider in your area that offers home internet. When they tell you that their pricing structures are better, be sure to argue that it's not the pricing, but rather the performance and/or support. If that doesn't work, call again to talk to someone different. Failing all of the above, just talk about your attempt to lower your monthly obligations due to your newly-restrictive budget, and the fact that you're considering just cutting it out altogether.
They've got a pretty good customer retention department that will easily give you a discount of some sort, even if on a short term basis. At the end of that short term discount, simply call again and repeat the process.
I can leave my cable company and switch to a competitor, but I can't switch my internet (also through my cable company) without severely limiting my speed, and potentially being restricted to data limits. If I switch, I'm fucked, if I stay I'm fucked, so yeah, I feel your pain.
cjthomp ยท 1 points ยท Posted at 04:21:22 on March 22, 2018 ยท (Permalink)
Haha, they just tell me to call in Quarterly and instead ask for discounts. They offer new ones on that timeframe. They know the game. Always a good experience. Only idiots pay full price.
Last time I was at VONS, the cashier told me I โsavedโ $4. I told him he โdidnโt overchargeโ me $4. Duality in pricing and they screw you without the card. ๐คช
COX will also more than likely pay for your $50 unlimited โupgradeโ. BS fee due to enforcement of caps that only became an issue, er, โcash cowโ for them last year. They have an offsetting discount for like $45 if you ask. Always say your SO used the features and act unaware of what you need. That way they canโt cannibalize features to give you a better price, they have to apply credits.
I have my own Verizon modem and my own Comcast modem, router. I still don't feel like the ball is in my court when I got to fight and try to wrangle a deal or switch every year.
PS Vue
Youtube TV
Sling TV
DirecTV now
and probably 5 more new ones since I last checked.
Cloud DVR, as many TVs in your house as you what, on every device. Check out internet TV, I switched and wonโt switch back even if they match the price.
Can you go a month or two without? Maybe see how much it would cost to tether with your phone. Even if it's going to cost you $50 it will be worth it. You can typically get the new customer pricing so long as you go a month without service.
I recently moved to Alaska and not only is there a monopoly on internet/cable/phone but the internet is capped. Screw GCI and their โlimitedโ internet. Itโs things like that which I took for granted back when we lived in the lower 48..
If you want to see some true anger/comedy, do a search for GCI in any Alaskan sub..
When I was with Cox, I would disconnect my service for a day and then have it reconnected. They would always give me the new customer rate. Once I got married, my wife and I would switch the account ownership every 6 months which ensured minimal interruptions.
Sometimes we cancel our internet with Cox for a little bit (i can't remember if it's just 1 day or a week) and then you qualify to sign back up for the "New contract promo".
I live around Philadelphia (Comcast area) and used to live in San Diego (Cox area). Still have the same problem.
From how it was explained to me by an IT friend, Comcast basically โownsโ all the cable lines. They can let other companyโs use them, but they have to โbuyโ the ability from Comcast. The problem is that the price to โbuyโ is so fucking astronomical that every other company is like, NOPE. It would take so long for them to make the money back from the new customers that it just isnโt profitable.
Yeah I told cox I was going to switch bc I found cheaper internet and they said okay. Then two weeks after I switched called me back and offered me a cheaper rate. Like I would have taken that had you offered it to me before but I just paid the dumb set up fee and modem for the other company Iโm not going to switch back now.
Cancel, then go into the store the next day and sign up as a new customer using your middle name. When they look at your ID and pull up the address and ask if you already had service, tell them you're renting from a relative with the same first name and you go by your middle name to avoid confusion. Go the extra mile and give them some random google voice number instead of your regular phone number (then change it in your online account later).
I literally just did this yesterday with Spectrum because they wouldn't renew my discount anymore. TWC used to always just give me the new customer discount again every year if I called up after it expired, with no hassle. Spectrum refused even after threatening to leave (although they did try to offer a lesser discount). So I decided to try this because worst case scenario was that I'd just tether off my phone for 31 days and then legitimately qualify as a new customer again.
edit: I think this is obvious, but don't try to drop off the old equipment in the same visit, and definitely don't try to use it. Disconnect the old gear before signing up, take the new gear home and connect it, then go back and drop off the old gear on a different day. Even if the people in the store recognize you and catch on, or hell even if they don't buy your lie in the first place, chances are likely that it's beyond their pay-grade to give a shit and try to call you on it. But still best not to make it abundantly obvious; gotta keep some plausible deniability in there until you're already signed up again.
Luckily I live in a city where Cox has a monopoly on apartment complexes but the public utility service offers fiber for houses. I can't wait till I can move and basically flip the bird to Cox.
Charter/Spectrum has a tight Monopoly in my town. I just use the ol poor college kid story and it usually nets me a $15-20 discount every year. The CSRs really don't care it seems like and will enroll me in whatever promotion is running.
erca111 ยท 1 points ยท Posted at 01:49:30 on March 22, 2018 ยท (Permalink)
Cox is the worst!!!
[deleted] ยท 0 points ยท Posted at 05:26:31 on March 22, 2018 ยท (Permalink)
My dad did the same thing to spectrum and actually left about a month ago, told them he would wait for Google fiber to show up.
Basically they doubled our rate and my dad called saying they would do anything they could to bring it back down to the rate he wanted or he would leave, and they wouldn't, so he did. (Like 6 months later after paying the same amount he did before and refusing to pay the "late fees" they charged him.)
You reminded me I need to do this for my gym membership. I've already fulfilled my one year contract and then I heard from a few neighbors they are paying 10 dollars less a month than I am....
I do this, too. I just reach a point where Iโm tired of paying whatever amount Iโve been paying and basically just call and tell them that. Itโs mind-blowing how quickly some places will lower your bill. And then sometimes I feel like a putz for not doing it sooner.
I would do this on a yearly basis with my internet provider since my "promo discount" would expire. It worked for the past 6 years.
I called them last week and told them I was ready to switch over to their competitor unless they could do something to keep me. I kid you not, they said something like "well, sorry to see you go." After a little of back and forth, they explained that they are so sure about their service and the price the charge that they don't feel like they need to bend the rules to keep me.
And, you know what? They were right. Cocky bastards.
Call and ask for the "retention department". Tell them you're thinking about leaving and ask for a loyalty discount. They gave me $50 off per month for 12 months recently, and encouraged me to call back every year to get more of the same. They said late January is the best time to call, but you can call anytime.
Some older people have so much self control. I'd be frugal and do this all week then blow all my saving in one night out at the bar then at Denny's to cure my hangover.
I do this same thing. Either to get a deal or to cut in front of all the suckers waiting for Verizon support when it's work related. When the robot asks "what is the reason for your call" and I say "customer retention" in a stern voice you bet they pick up the phone right after even if they're swamped.
[deleted] ยท 2 points ยท Posted at 07:00:16 on March 22, 2018 ยท (Permalink)
I do this all the time, especially during long drives haha. I end up saving/gaining $200 ok average.
Well, my mom is a sweetheart and one of the nicest people you'd ever meet, but when it comes to stuff like this she has a certain mix of frugality, sternness, and a general disregard for the financial well-being of large companies. Usually she'll start by looking up competitors and see what special they have going on, then call and say she was going to switch if they don't lower her rate (she wasn't going to switch). They would try to appease her with extra channels or whatever fluff they could give away easily, but she would hold her ground (stern, not rude) until they either saved her a few bucks a month or said they couldn't do anything. Some times it worked, sometimes it didn't (most of the time it did).
One time about five years back she called Verizon or Comcast and told them she might be losing her job and won't be able to pay that much and they lowered it for like a year. She may have been toeing the ethical line with that one (she was worried she was going to lose her job, but my mom is a bit of a worrywort and worked for the state, so she was OK) but it worked!
I do this with my Sirius radio in my car. I've called to "cancel" every couple months. I've been getting a discounted rate since I got my car almost 6 years ago.
That's good to know! I'm about to take the plunge on satellite radio next month and will remember this!
cwould ยท 1 points ยท Posted at 03:38:11 on March 22, 2018 ยท (Permalink)
Do you (or your mom) have any tips on getting a better car insurance rate? I have tried calling several times and I can never get anything better. I'm also young (24) with an only 2.5 year old drivers license so I don't know if that's limiting me, but my car insurance for an '05 car is almost $200/ month and that seems ridiculous.
My Mom just got $60/month knocked off our plan after UPGRADING to unlimited data.
antemon ยท 1 points ยท Posted at 12:09:23 on March 22, 2018 ยท (Permalink)
Every once in a while my mom will get in a "mood" and call her CC, cable, cell phone, insurance, etc... provider and try to wrangle whatever deal she can get out of them.
to whomever's gonna try this, just make sure you aren't late on your bills.
like, seriously.
and be nice to the person on the other end of the phone.
When I switched internet companies when I moved. I got s call trying to sell me on the Phone/cable bundle and I declined.
When the 3rd rep called I very sternly told him "if you call again, offering me these services I clearly don't want, I will be cancelling the service I do have with you and go with the other ISP in my area." Haven't heard from them since.
Another great thing for a teacher to do is tell teens that Comcast sucks dick. These kids should be told that if you don't threaten to leave, they won't give you the cheapest price. And if you don't go and renegotiate before your 'deal' expires, they'll slyfully jack your price up $20-30 bucks (at least) when even the 'deal' rate feels way too much to for what you get to begin with.
Let em know
approx- ยท 123 points ยท Posted at 22:37:06 on March 21, 2018 ยท (Permalink)
Except in my area, all the other competitors suck even worse than Comcast. I would love to have Comcast at my house, but their lines end a mile from my house. Instead, I'm stuck with super expensive, somewhat unreliable microwave-transmission internet.
If you want to gamble and don't mind a half second latency, check out Hughes net satellite. Got fast as fuck in the last year. Like 30+ mb speeds, and faster when the satellites are underused.
They are very iffy on customer support though, but it sounds like you're used to that.
Yeah, it's a soft bandwidth cap. Often it's still less harsh than the hard bandwidth caps that come on a lot of the microwave internet.
The bandwidth caps went up though in the last year. They have been launching a shit ton of their fifth* gen satellites starting last spring. If you're still at 30gb, might want to call in, I think it goes up to 50gb now
Not when it comes to satellite. There's a huge difference between being plugged into something vs trying to bounce signals off a tiny blip 22,000 miles away.
Difference is you can get to the satellites from almost anywhere, so there's a much higher availability. If you live 5 miles out of town, that can easily cost over $30k to install a fiber line going out there. If you've only got a handful of houses, the cable companies aren't very likely to pay that. That means your availability can be extremely limited once you step outside cities. That satellite is still about 22,000 miles away though and only cares if you have a clear line of sight and is pointed in your general direction (some of them have covereage in the thousands of miles)
So when I say that 30mb/s is fast as fuck, it's relative. It's like having a golf cart that can go 65mph. That's fast as fuck for a golf cart, but that would be a terrible top speed for an average commuter car (especially in California where almost no one goes the speed limit on freeways.)
But yes, overall for internet it's pretty shitty. It's also generally a minimum a half second delay, which is pretty shitty.
I satellite upload still basically dialup for upload? I looked into it for a friend years ago and it was like 1995 BBS speeds in terms of uploads (which, granted, a lot of people don't care too much about).
Wow, I had no idea. I have a friend that's had satellite for years and insisted it was phone upload. I wonder if he just meant "as slow as" phone upload.
Source: had hughesnet for two years, was the only connection available at my house. Peak speed never topped 1Mb/s, and data was softcapped at 250MB/day. Throttled speed was 20kb/s
We're far enough out from the nearest tower that the LTE isn't that great. A local provider finally put in DSL, which is shit (768k down/256k up) but loads better than hughesnet. I've recently been looking into getting an LTE modem and a couple of fuckhueg antennas to hopefully build some sort of lightning-fast uberconnection in the attic. Hard part is finding a cheapish unlimited lte plan.
Looks like this is exactly what I've been looking for. Their service appears to autoselect carrier network (sprint and at&t are the ones that i'd be able to get out here, the modem i've been looking at doesn't support verizon). It appears to be a 'no questions asked' type of deal, which is perfect for my application.
Aye, just make sure that your modem is able to act like a phone, per-say. I donโt know the in depth details, but some providers charge differently for hotspots.
No, the worst part is that even if you get decent speeds, it's expensive as hell. We were paying $80/mo for absolute dogshit. When our contract was up and we switched to DSL, we actually wound up saving ~$100/mo because no hughesnet AND the DSL bundled with our home phone.
approx- ยท 2 points ยท Posted at 15:01:50 on March 22, 2018 ยท (Permalink)
I've heard satellite is terrible for games though (ping times), and they have data caps. My current internet is up to 25 mbps, I just get frustrating lag spikes every so often, or the whole thing slows down to the point that is is hard to stream HD video sometimes.
[deleted] ยท 1 points ยท Posted at 23:40:11 on March 21, 2018 ยท (Permalink)
My only alternative is century Link... The only time I checked into them their website was so bad I assumed it was a scam. My friend got them and his costs went up and the service was worse, and they made it damn near impossible to cancel.
approx- ยท 1 points ยท Posted at 15:04:33 on March 22, 2018 ยท (Permalink)
Yeah I mean, there's certainly worse options out there for me. Century Link supposedly has DSL to my area, but the people I've talked to said don't bother. The lines are so bad that I'd be lucky to get 1 mbps on DSL here. I'll stick with the 25 mbps WISP.
Me too :( fucking god awful after living in an urban area for so long with such deliciously sweet fast internet.
[deleted] ยท 1 points ยท Posted at 17:30:57 on March 22, 2018 ยท (Permalink)
same here, in my area I have two choices but the second isn't really much of a choice at all... I can either get overpriced cox internet which is up to one gigabit (gigabit costs 119 + 50 if you want unlimited data) or I can buy centurylink which is like 45 bucks for 40mbps max, really sucks, heck I wish I had the option of Comcast just cause their plans are cheaper than cox but still fast :/
approx- ยท 1 points ยท Posted at 17:44:10 on March 22, 2018 ยท (Permalink)
I would so gladly pay 169/mo for reliable gigabit right now...
I'm tempted to pay $41k to get comcast to run lines to my house, but I think my wife wouldn't agree...
[deleted] ยท 1 points ยท Posted at 17:57:28 on March 22, 2018 ยท (Permalink)
Are you in an HOA community by any chance? Perhaps they'd lower the cost and/or you can share it with others in your HOA if there are enough people willing to pay to get better internet..
approx- ยท 1 points ยท Posted at 18:20:33 on March 22, 2018 ยท (Permalink)
Nope, I'm out in the country, no HOA to speak of (thank God).
Comcast supposedly takes into account the potential future customers along the way when calculating the cost to get to my house. I've thought about talking to neighbors about splitting cost but they're mostly typical county-livers, older and not particularly interested in technology. I don't think any of them are particularly wealthy either by the looks of it.
I've done it both ways. They offer the same deal in the end. I'm not mean to the person though when I'm threatening to leave. I don't get angry at them. Threatening to leave usually require the customer service agent to start a process of keeping you on board. They just follow a guideline and need to follow it to the book in most cases.
So basically you're being a phony fuck to get what you need done. I got ya. It makes sense and I'm not hating on you for it just pointing out the truth. I've done it myself many times and it works or at least helps more than It doesn't. It's sounds advice.
sPOUStEe ยท 22 points ยท Posted at 00:01:42 on March 22, 2018 ยท (Permalink)
Threatened to leave here, STILL didn't give me a better price. Got FiOS when it became available, called Comcrap back and legit cancelled. When asked why, I told them how I'd called in previously and they didn't do anything for me, and that I made good on my word and bounced. I know the agent likely didn't give 2 shits, but it felt great. (Old man shakes fist in the air)
Do they actually have โcontractsโ? Reason Iโm asking because I recently wanted to switch and they said I would be charged $250 for breaking their contract. Iโve never, ever signed anything with them which makes me feel like the rep was lying.
They have different rates for no-contract and X-month terms. Depending on the plan you got you may have agreed to sign on for 0, 12 or 24 months.
It's in terms of service that you agree to electronically or have sent to your house if you order over the phone. No physical signature required if you check a box or say 'OK' into a telephone.
Comment for thread OP: Yup. Keep in mind that the ETF is prorated every month you get closer to the end date, and that if you were to switch, your new provider might agree to give you the ETF you had to pay as a credit (Verizon did here).
They do have term agreements as well as no-contract agreements. I'm a little confused because in your other post, you said about two years ago...they made you sign another two year agreement. Does that mean you're almost up (and would have no ETF)?
If not, you should be able to get out without paying the fee. If you are under a contract that has an ETF, you should be able to call them up and tell them you want to change your plan. Add or remove something, depending on what you have currently, or change your internet speed or # of channels or something. But make sure you are clear that you want to change to a plan with no term agreement. It'll be a higher rate than if you agree to extend again, but you're gonna cancel anyway. I'd wait a few days, and then call to cancel.
I've dealt with this shit before with a few companies but mainly ATT. You will have to keep calling and insisting that you never agreed to a contract and did not want one. Their main goal is to wait you out, but eventually it won't be worth the hassle for them and they will void any cancellation fees. In my case though there wasn't even verbal agreement so YMMV.
About 2 years ago we decide to sign up for their home security monitoring/ cameras. The Comcast installer never shows up. We called, they say he canโt come back for a week so we said forget it. A few weeks rolls by and I log in to pay my bill. Sure as shit they charged me for the equipment, install fees and managed to double my monthly dues on top of all that.
I call back to see what happened, and of course they canโt give me back my original package. They have to delete everything and start over, which apparently means Iโve extended my contact for another 2 years.
Does this mean you have been paying them for 2 years with no actual security? It may be a bit late for you to bother if the contract is almost up now anyways. But for me I had a contract at one point that ran out after one year (had service for almost 3). Called them up asking for cheaper service (tv/internet) over the course of about a week asking for a special price they were doing at the time. Contracts or service agreements were never made but I got the deal. A few months later I call up decided that I no longer wanted the TV package and only wanted the internet.
That's when I was informed of some supposed contract. took about a week and a half of calling and insisting that I never agreed to any contract or service agreement and they finally resigned and agreed to cancel the cable portion of my "contract".
Best part is, the internet portion was about half price of any competitor and I decided to not fight the contract part of that so I have decent internet for $30/mo.
TLDR: be a pest, they want you to cave and just pay. But it's not worth it if you soak up call times/dollars
Yes they have contracts. I didn't cancel my service in the first 30 days, I had to pay $10/mo left on my contract to break it. 60$ for the last 6 months.
I believe... You can legally break the contract with no penalties if you are moving to an area where they do not offer a service transfer however.
They may check the ZIP code to confirm whether they do or do not, but it may be a possibility if you call in and tell them that is the case, and have an area picked out where you are "moving" to...
Literally having to deal with their bullshit right now, and I've only been a customer for 5 days.
Was told I would get free installation and what do you know, first bill has a $60 installation fee. I asked the rep that signed me up multiple times, was even put on hold to confirm.
Now heres the problem, the rep 'verified' my services through an email, which had the installation fee on it, but I was told it would be taken off after the fact... which is the only reason I agreed to that verification. But now, because I agreed to that verification, Im being told the charge is valid. They offered to take $30 off, I told them to pull the call where I set up my services. I have not heard back from them yet.
If they try telling me that the installation fee wasn't discussed or the agent didn't say that the fee would be removed, can I request a copy of the audio? Because I am 100% certain I brought it up multiple times.
I moved here 4 years ago from a city with multiple choices for internet, to a medium-sized town where my broadband choices were either Comcast at 100mbps max, or CenturyLink at 2mbps max. This area used to be Qwest, and when CenturyLink bought them in like 2006 or something, they never upgraded any former Qwest areas (maybe because they don't want to compete with Comcast?).
I signed on at $59.99/mo, but my promo expired and the price kept going up. At one point it was $112/mo just for my 50mbps internet and the smallest TV package possible for a cable box that isn't even plugged in because I don't use it. (For some reason if I don't bundle it with TV, the price goes up.)
A reddit thread a couple of years ago encouraged this same advice - call and threaten to cancel. That's exactly what I did. I have to call them every November when they try to raise the price again, but at the moment, my monthly bill is $62.21 - only about 2 dollars more than when I first moved here. :)
So yes, it works. Try it! You have to be convincing, though. I like to tell them that I'm a light internet user who mostly uses the internet with the data connection on my phone, and if that's only $45 a month, why would I give Comcast twice that much?
In my area you can have Comcast without a contract, it costs like $10-$20/mo more than if you got a 2 year contract, but its nice having the option to just stop your service if youre done with their crap.
Some providers will give you credit if the provider you're leaving hits you with an ETF. For $120-240, it seems worth checking with alternative providers and signing up for the contract. There's a risk the new provider's policy will change if you ever actually DO switch, but a couple hundred bucks seems worth that risk. Oh also, the ETF fee decreases each month you stay on the contract, so the risk keeps getting lower...
I do that with Sirius too. I call about a week before my subscription is up, and say I'm cancelling because it's too expensive. They throw a bunch of crap off out, until I get 6 mths/$30. For that price I'll keep it, they've done it twice so far. Worse that happens is I cancel
I did that with them for over 3 years. Called every 6 months or w.e the term was. Sometimes they give me 4 for $15. I got tired of calling though and work from home now so I finally told them to kick rocks for my car. Still paying them and doing the dance for my wife's car though...
Another service in my area offered gigabit speeds for cheaper than Comcasts best service of 250up/10down. Was paying 130(after fees) from comcast, now paying 95/mo. Though i did have cable/internet from comcast and only internet through my new service. But that sounds terrible to call gigabit service "only."
Yeah remeber everything you learned freshmen year of math? remember your motivation and work ethic as a high schooler? Kids are NOT interested in learning this as much as you tell them its useful. No kid is going to sit and do those things. Maybe parents should teach something at home instead of relying completely on schools to babysit their children.
Hell yeah, its getting a bit ridiculous with these posts talking about schools teaching this and that. If these kids can stare at their phones for 23 hours a day, they are more than capable of looking up proper money management once the time is right.
i.e. you are going to buy a car? Look up interest rates before you walk into the dealership. Just gotta type "things to watch out for at dealership reddit" and you'll probably find hundreds of great advising comments. No excuses anymore.
I disagree. So many people go into debt when they're still under 20. Especially credit card debt. Personal finance would have made a big difference to me at least. Like most people I learned the hard way and spent years digging myself out of a financial hole that I dug myself into in my 20's.
[deleted] ยท -2 points ยท Posted at 02:31:12 on March 22, 2018 ยท (Permalink)
I feel like you're just using this as your soapbox to trash talk public schools? You know downvotes are for people that you feel didn't contribute to the discussion right?
[deleted] ยท 0 points ยท Posted at 02:43:19 on March 22, 2018 ยท (Permalink)
I know that's the job of our parents to ready us for adulthood, but so many kids have parents who have their own shit going on who can't focus on these types of life lessons. My parents were always poor and as a young adult I'm still learning the value of money. No one in my required personal finance really drove home just how much credit can define an adult life in the US.
Personal Finance should be a full subject taught in high school. Taxes, paychecks, savings, banks, loans, etc. Teachers would be trained in financial matters; economics/business graduates would be ideal for the job.
No. Borrowing money is almost a certainty this day in age. Whether itโs college, a home, or most cars at some point you will need to borrow money. Teaching them how to do it the right way and how to be most efficient in borrowing and paying it back is the best way to teach this. The worst that happens is the student doesnโt need it but for 99% of students it is the one thing they will learn in high school that they will use for the rest of their lives.
Right, in a perfect, credit score-less world that would be how things worked. But sadly things are so messed up in the US with credit. I hate how our system works!
Without credit most people wouldn't be able to buy homes or cars. Very rarely do people have the liquid cash to pay for those. Credit score is just a reliability indicator on your ability to pay back loans.
Could be worse. China's credit score system is also a citizen score. Consuming imports and even being friends with the wrong people negatively impacts your score.
If you never borrow money you don't need to improve your credit scroe cause you'll never need it.
What if you're applying for an apartment? You have a low credit score because you've never established credit. So you can't get an apartment.
That's messed up.
[deleted] ยท 10 points ยท Posted at 21:21:48 on March 21, 2018 ยท (Permalink)
And some employers are looking at credit scores for certain jobs and your car insurance can be higher for a lower OR non existent credit score. Seen that all happen.
YMMV but I donโt use credit and just showed them proof of income and told them Iโd double my security deposit because I had enough in savings to do so. I get it back at the end and they felt better about renting.
Obviously this doesnโt apply at every place but I donโt need to rent everywhere just one place that fits for me.
[deleted] ยท 1 points ยท Posted at 22:34:45 on March 21, 2018 ยท (Permalink)
I mean, my situation is just that Im paying off student loans, which helps my credit score since Im always on time and havent missed a payment. But literally any time you purchase something with a credit card and pay it off later on time and in full, itll up your credit score.
If you have never opened up a credit card or took out a loan before, then you likely don't have a credit score. The easiest way to achieve a high credit score so you're prepared for the future would be to start by opening up a secured credit card. You'll probably have to pay a deposit that you'll get back whenever you close the card, but after using that card for a few months to purchase whatever you normally use a debit card for, you can apply for another unsecured card with a higher credit limit and rewards, which is basically free money. Use both cards for another few months and then apply for a third card with an even higher credit limit and more reward options. As long as you treat the credit cards the same as you do debit cards and pay the entire balance before it's due (I personally check and pay them off almost daily so I always know how much I have in my bank account), then you'll never have to pay interest. Having a credit card is also much safer for the fraud protection since if there's fraud charges on a credit card, it's the bank's problem and not yours. I basically just described exactly what I did and went from a starting score of 686 last June, which went up to 726 currently and should be much higher by the time I ever need to use it.
Yeah, because they should live in a box until they save a couple hundred grand for a house.
gdq0 ยท 4 points ยท Posted at 21:41:08 on March 21, 2018 ยท (Permalink)
Everyone is downvoting you and for that I'm sorry. The best thing for a teacher to do is to tell their students not to borrow money on a credit card by paying it off in full every month. Other forms of loans are typically just fine, and usually at a sane 3-5%.
I don't think teaching kids that student loans are a bad idea is a bad thing. There is a stupid amount of unemployment with college graduates and for some degrees the amount of debt they accrue just isn't worth the boost they get from the degree. Trade schools are a great option for many people, and in a lot of industries where a person has to work with their hands, experience is more valuable than a degree.
Just pulling numbers out of thin air but if Joe goes to college for electrical engineering, that's $40,000 a year for 4 years including interest on his student loans. If he instead went to trade school for a year let's say that's $30,000 and then he starts as an electrician making $30,000 a year. In 4 years he can either have $60,000 and 3 years of experience was an electrician, or $160,000 in debt and no experience, where he is less desirable for hire
Avoiding maximizing your student loans certainly has plenty of merit.
I went to a community College, then to a good state school. My student loans only hit 20K. It's a wise choice for anyone going to school. Not everyone chooses an absurdly expensive private school without any loans.
The real cost of college is typically a fraction of the advertised cost. My university was going to cost 15K/year but I ended up with a scholarship for 10k/year.
Meanwhile I know several people who left community colleges to go into trades like being an electrician.
A shortage of work over the last few years meant their apprenticeships went from 2 years to 4 years to get their needed hours.
Now they're still making less than I do several years later. I was a history major.
College is still a great investment. The unemployment rate among college graduates and their median income is still very, very strong.
I just enrolled in Graduate School because I want to increase my options and I have the ability to dramatically increase my salary. The student loans are an investment.
Stuntz ยท 1 points ยท Posted at 22:00:48 on March 21, 2018 ยท (Permalink)
Borrowing money only hurts you if you don't understand how to use it to your advantage. Credit takes responsibility but can be powerful and helpful.
mces97 ยท 86 points ยท Posted at 22:18:05 on March 21, 2018 ยท (Permalink)
My parents used to transfer their balances to other cards for 0% for 12, 18 months. But you gotta be responsible and make the payments on time. If you miss just one you get hit with like 25% or more interest.
Dat balance transfer fee, though. 3% adds up. But it's still better than paying interest.
mces97 ยท 20 points ยท Posted at 22:50:11 on March 21, 2018 ยท (Permalink)
I'm not sure what other fees were involved. But my parents never missed any bills in their life, so I assume they knew what they were doing. And I pay my credit cards off each month, so I never read all the fine print with balance transfers.
Eh, It's possible they were doing it on cards that had a $0 transfer fee. Those offers still pop up every now and then, but they're not as prevalent as they once were (buddy of my father's managed to build a house using those offers).
mces97 ยท 2 points ยท Posted at 23:29:32 on March 21, 2018 ยท (Permalink)
Yeah. I was too young to really understand what they were doing but I overhead the phone calls they made.
Those are really common for NEW cards but not for existing cards. New card offers are wasted on balance transfers because the opportunity cost is much higher than the 2-3% fee you're "saving". I've made out with $500-$1000+ on opening bonuses on all my recent credit cards. Usually it's either a large opening spend bonus OR a good BT offer on new cards
I pay 2% fee to Chase for 12 months @ 0% to a checking account deposit. Figuring in a little slack for transfers (although my bank makes the funds available immediately and I transfer out of checking next day..... whether it's a $5k CC check or a $16k one), works out to about 2.2% APR. That's a little better than my current margin rates at brokerage, and those are increasing as rates go up. (2% on over $100k margin loan, 2.25% blended rate. But increasing by 0.25% tomorrow..).
Plus the Chase cards I use are business cards so the 95% balance vs credit on those cards doesn't even affect my credit score.
If they only do it once every 12-18months, they might be making a better return than that by having the money they would have used to pay it invested. Like if theyโre making a 6-7% return, 3% a year on the balances actually makes sense.
I've done this before to finance some housing projects that needed to get done. Having a plan is key!
eNaRDe ยท 2 points ยท Posted at 23:20:29 on March 21, 2018 ยท (Permalink)
I heard this hurts your credit though? It's easy to spot when someone does this so the credit bureau flags a person's credit real quick and lowers their score. Anyone can confirm this is true?
mces97 ยท 2 points ยท Posted at 23:24:25 on March 21, 2018 ยท (Permalink)
Not sure. Why would that hurt your credit though? As long as you pay the bills on time isn't that a good thing? My parents didn't open new cards. Just transfered balances.
According to my Capital One app with Creditwise transferring credit card balances lowers credit score.
I have a 812 right now and transferring 1,000 dollars to another card it says my score will drop to about 735. 20,000 only drops it to 722 so it doesn't seem like it's the amount but more the act of doing it.
Edit: This is assuming I open a new card to transfer it to.
I transfer balances annually, I've never had a drop (unless the second card reported the increased balance before the first card reported the decreased balance, and even then it was like, 5 points). I don't understand how they would KNOW if you transferred a balance -- it just shows the same as a payment for me.
If it's calculating you opening a new credit card to make the transfer, yes that's going to impact your credit score a lot. The other person was talking about transferring between existing accounts. That isn't going to have any large effect.
Not out of the question if they have their entire credit history on one card and opening a new one would drop average age of accounts drastically. Still 70 is steep, I agree.
Not out of the question if they have their entire credit history on one card
That's a fair point.
I'll add (very much an opinion) that if his entire history is one card and he isn't planning to buy a house in the next ear or two it would be probably be in his interest to bulk up his history.
A larger number of cards will (long term) provide a more stable "age of account" and keep utilization rates down.
A friend of mine thought he was doing well by having a single card with a $500 limit on it that he paid down monthly. The problem was that the reported balance is the current balance and not the carried one, so his utilization rates were generally stupidly high despite the fact that he owed virtually nothing at any given time and never carried a balance.
if his entire history is one card and he isn't planning to buy a house in the next ear or two it would be probably be in his interest to bulk up his history.
Agree 100%!
I generally find the whole credit reporting racket to be absolutely bonkers, but it's what we've got right now, and if you want to take advantage of it the best you can, you gotta play the game a little. Of course, there's no harm in picking up some extra cash along the way with some signup bonuses on the cards, assuming you aren't spending more than you would otherwise or tempted to use up available credit in the future, and that it's still a manageable number of accounts to keep track of.
App says if I open up a card with a dollar balance my score will go up by 1 point. 10 dollars it will go down by 3 points. 100 it will go down by 3 points. 1000 it will go down by 3 points.
I think the dollar thing glitched it. Opening a 20k doesn't affect my credit score, and anything above it will actually make my score go up.
But yeah I don't think opening a new credit card will drop me 70 points.
I wonder how long it have to have that new card before I can transfer a balance over to it without taking a point penalty.
There's not much benefits to transfer balances to an existing card though. Unless you're highest cash reward card has the highest APR because you should just use that card to begin with and not worry about transferring.
Most of the time to get 0% APR for 12/18 months it has to be a new card. Especially for people that leave balances on cards. Someone that doesn't pay interest they are more prone to give 0% because they don't lose any potential interest and encourage spending which means more %fee from stores.
Usually when you're transferring balances yours digging yourself in a lot of debt and not a good idea.
I get loads of balance transfer offers; between my three cards, I get a one every month or two. Obviously not carrying balances is best, but if you can save interest on an existing balance, that's only a positive.
0% is the lowest APR in this hypothetical. If little Timmy needs to go to the ER and your emergency fund is already drained, charging it and transferring to a 0% offer is probably your best bet, even if you do pay a 2 or 3% fee to transfer it.
Again, it's always best to not carry a balance to begin with, but if that's the situation you're starting in, a balance transfer to an existing card is likely your best next step.
Your emergency fund I assume is your savings account. Now why would you take a 2 or 3% fee to transfer it when you could have just used that card to begin with?
Now why would you take a 2 or 3% fee to transfer it when you could have just used that card to begin with?
Great question :) If you do have a card that offers 0% on purchases for long enough to pay it down, by all means, take advantage of that. Unfortunately, few cards have ongoing 0% offers on purchases. However, most cards do offer periodic transfer offers for existing balances. The logic is to charge it to card A, use a transfer offer on card B to move the balance before you're charged interest on card A, and aim to pay it off within the promotional period.
This scenario assumes a few things:
1) As stated prior, the savings account holding your emergency fund has been zeroed out by prior emergencies.
2) You have a good credit history with at least two cards with high enough limits to cover the charge.
3) You receive regular balance transfer offers and know that you can transfer the balance before the interest kicks in.
4) You don't have any better options available (a HELoC, luxury items to sell, etc.)
In case I haven't been clear to this point, balance transfers are not a one-size-fits-all solution, and they're generally best used sparingly to fix a current problem in less-than-ideal situations. Best to think of them as a specialty tool in your financial toolbox.
I believe that the drop is because they assume that you will be opening a new card in order to get a balance transfer offer. If you get an offer on an existing card then it shouldn't affect it.
I've done it before and haven't seen a negative impact. I just did it this week and I'll monitor my score to see how it affects it.
Not true. Look on your full credit report for APR (hint: itโs not there).
Llohr ยท 2 points ยท Posted at 13:47:59 on March 22, 2018 ยท (Permalink)
Much much better to not carry a balance. The key is to remember that if you're spending more on a CC than you can pay at the end of the month, your CC debt will accumulate. Eventually you're so far behind that catching up seems impossible.
mces97 ยท 1 points ยท Posted at 03:41:50 on March 22, 2018 ยท (Permalink)
Lets say you have card A with balance of $10,000.00. Card B will offer to transfer the balance to them, essentially paying card A off. Then card B will offer you 0% interest for so many months, maybe 12-18 months. You have to make the minimum payment each month or you get a very big interest rate, which I believe starts from the original transfer date. So if you miss a payment, its worst than just staying with card A. But if you make all the payments, you pay 10,000 dollars. No more, because 0% interest. Got it?
917BK ยท 11 points ยท Posted at 02:03:11 on March 22, 2018 ยท (Permalink)
Yeah, I closed my account soon after and will never do business with them again. It was right at the height of the 08/09 recession too.
Loxcam ยท 9 points ยท Posted at 09:40:16 on March 22, 2018 ยท (Permalink)
BofA is the fucking worst. I had an account with them for 3 years. Used the card very very rarely til one year I used it as my primary rewards card. Next year I change to another with a better rewards program.
Not even 7 months later BofA closes my account. I was never late, never missed a payment, nothing. When I got notified of the credit hit due to an account closing, and called them they told me it was due to inactivity.
The asshat rep even told me they could sign me up for a new account, and I just laughed at her. They lost my business forever.
Every credit card does this that doesn't have an yearly fee.
Edit: love how a simple Google search proves me correct yet people are still upset by reality. Guess that's why credit is in the high 700s... idk what I'm doing and know nothing on the subject....
Had that happen to me before, no need for a 50k limit at the time I made 35k a year every other month when I paid I got a message "congratulations we upped your limit due to payment history" had to call and tell them to stop and lowered it to 25k
Itโs every 6 months that you can do it. Ask for a credit increase and rate decrease. Thatโs how I have $40k on 3 different cards. If they give you the option of 0% for 12 months, or a small permanent decrease, I always took the small permanent decrease. My Discover IT is like 10%.
[deleted] ยท 7 points ยท Posted at 01:17:45 on March 22, 2018 ยท (Permalink)*
Give or take. Slowed down around the time of the mortgage crisis. More available credit makes you look better to other potential creditors and lowers your utilization percentage. So I got like $115k available across 3 cards, but I only use like $2k at any time. If Iโm ever on the verge of losing my grasp of reality, Iโm going shopping first.
[deleted] ยท 5 points ยท Posted at 01:45:38 on March 22, 2018 ยท (Permalink)*
Just starting you def want set your reminder to get your available credits as high and as quickly as possible. Once your credit is comfortably good, you can chill out a bit.
[deleted] ยท 4 points ยท Posted at 07:46:08 on March 22, 2018 ยท (Permalink)
Not quite accurate. You can ask any time you want. Different companies will give you advise you of different time frames, but itโs usually no less than 3 months. That is just so your history with them and credit file have time to have decent updates. You are correct about the hard pulls though, you need to space those out a decent amount. Any CC company can require one at any time, but they have to disclose the pull before you agree to it first.
Source: work for a major CC company.
[deleted] ยท 2 points ยท Posted at 14:26:53 on March 22, 2018 ยท (Permalink)*
[removed]
MeateaW ยท -6 points ยท Posted at 04:28:01 on March 22, 2018 ยท (Permalink)*
In my experience, your total credit limit actually reduces the amount the lenders are willing to lend you.
It's like; based on your income and your history you have a total capacity to "repay" loans.
Which means the bank puts that figure into a computer that says: "Person can afford 100,000 dollars in credit" (or whatever).
If you have 10,000 in credit cards, then the figure the computer spits out is: "100,000 dollars in credit, minus 10,000 credit someone has already advanced them, therefore 90,000 credit".
There are some variations for things like homeloans, where the loan is being backed by an underlying object. But in my experience, having more credit cards; leads to lower total lending being offered.
Having A credit card is beneficial, but at some point higher limits reduce the total they offer.
Edit: I'm not complaining about the downvotes, but for anyone downvoting me please read this:
Even if you only owe $1000 on a $10,000 card limit, you are still deemed a high risk as most financial institutions look at the total amount and not the balance owing.
I think they meant having a higher credit line, but not really utilizing it. As in, he could be using the $2k on a $10k credit line, but instead, he asked for an increase and is now using $2k on a $100k credit line. Makes him look a helluva more trustworthy and makes it look like he doesn't even need the money anyway.
MeateaW ยท 3 points ยท Posted at 06:32:21 on March 22, 2018 ยท (Permalink)*
Yeah so in Australia; with our credit applications we literally put in the total maximum available line of credit we have available to us. "Sum of credit limit on all cards"
And this number pretty much gets deducted from the maximum lending limit on homeloan applications.
It isn't the "you didn't use it" so much as, "we believe you can service a debt of X dollars." If you have a credit card, that is a line of credit available to you that someone has already lent you.
You haven't used that money yet, but it is a part of your total servicable debt limit.
In Australia you see we have banking legislation that says banks cannot lend to people they do not reasonably believe can pay back the debt given their circumstances.
So if you are capable of paying back 1000 dollars per week, they cannot legally lend you an amount that will require you to repay more than 1000 dollars per week.
If you have a credit card; then even though you might only use 2k of your 100k credit, someone has already pre-approved for you to borrow an additional 100k.
So the bank cannot reasonably lend you any amount of money that could feasibly, given your current "preapproval", take you over the calculated maximum you are capable (given current circumstances) able to service.
What is the point of lending you 1 million dollars, if given your current circumstances you could only afford to pay back a loan of 500k?
And; given your income can only reasonably sustain a loan of 500k, why would someone lend you 500k if you have credit card limits that add up to a total of 100k. Since, that basically means if you get in trouble, you will end up with 600k in debtand you can only afford to pay back 500k.
This kind of lending only results in you failing to pay your debts. Turns out, banks like to get their money back.
Source: My personal experience applying for loans and what the loan application officer directly said to me.
Even if you only owe $1000 on a $10,000 card limit, you are still deemed a high risk as most financial institutions look at the total amount and not the balance owing.
But like; sure; take the word of the guy with multiple credit cards and a total credit limit of $114,000 if you want.
Youโre probably getting downvotes because thatโs not how it works in the US.
MeateaW ยท 0 points ยท Posted at 21:35:34 on March 22, 2018 ยท (Permalink)
Yeah I figured it was a difference. The weird thing is I don't understand why it doesn't work that way there too.
How can it be in the lenders best interest to lend money to someone that can potentially put themselves in a hole they can't possibly dig their way out of?
But I guess the US doesn't get a 2008 for no reason right!
Rationale for: Companies A, B, and C consider this person worthy of extending 20K apiece of unsecured credit... s/he must be responsible! (because you rarely get to that kind of CL without a seriously good record of handling debt)
Rationale against: Companies A, B, and C would extend 20K apiece to this person... s/he could tap it all at once and be really deep in a hole!
We do have more restrictive rules around mortgages... basically, ANY movement in credit during a several-month-period around your closing date puts your loan at risk. That's why you often see disclaimers around CLI discussins that say "... unless you're getting a mortgage soon."
MeateaW ยท 1 points ยท Posted at 22:12:38 on March 22, 2018 ยท (Permalink)
Yeah; I understand the stated reasons.
But my understanding of risk is that you take into account their current situation as to the level of risk someone faces.
Company A offering 20k to someone without any loans makes a sensible decision.
Company B shouldn't take Company A's decision as a positive factor. Because Company B is deciding to loan someone money that already has a loan, Company A was deciding to loan someone money that had no debts.
Company C is a moron, "because A and B were doing it" is the dumbest logic I have ever heard. This is how bubbles happen. "I better get in quick because everyone else is making money off this!!"
To take the existence of A B and C collectively as a good idea to lend money abrogates your responsibility to make a safe decision. If someone can service 70k of debt, has 60k of credit cards already, and asks for another 20K of credit card limit, that is a recipe for them to have 80k of debt, and only be able to service 70k of it.
This results in potentially defaulting on all of the debt. No one wins in this situation!
Company B shouldn't take Company A's decision as a positive factor. Because Company B is deciding to loan someone money that already has a loan, Company A was deciding to loan someone money that had no debts.
Well, but Company B would probably not extend a $20K CL if the person was already into Company A for $18K. You seem to be assuming that the person is automatically using all the credit that is extended to them.
I don't think you're wrong about the potential downside for a lender--I'm just saying that's the current system here in the US.
rezachi ยท 1 points ยท Posted at 00:56:21 on March 23, 2018 ยท (Permalink)
They want them in the sweet spot where they can afford the payment but not to pay off the balance. For a lot of people this number is high enough that it means a couple hundred in interest charges per month.
Discovers minimum payment is 2%, so on a $14,000 balance youโre paying $280/month. Of that payment, $218/month goes to interest. With a little bit of searching I bet you could find the number of customers Discover has and the average balance of their customer pool. Itโs not hard to see why they want you in that spot.
Seriously though, it baffles me that literally everybody arrives at this realization sometime in their lifetime, yet we STILL have no effective laws preventing this obvious predatory behavior by banks.
I wish life in the U.S. worked as nicely as it does in AUS as far as credit goes. I personally know quite a few people who simply lie on their credit application about their income and there is no check on it, so the credit company is more than willing to believe you and extend you credit. It sucks because let's be honest, nobody making good money is shopping at a shitty department store, but hey! If the customer is providing potential income, why say no, right? smh
Do they perform a better check over in AUS or can/do people lie about actual income?
MeateaW ยท 1 points ยท Posted at 14:31:33 on March 24, 2018 ยท (Permalink)
So, the short answer is I believe they do perform at-least a reasonable check.
I recently applied for a credit card and was required to provide pay slips from my work to prove my income. (Despite banking with that same institution and receiving my pay directly into my bank account for the last 13 years). So it is often more than a casual hand wave "you wrote it so we trust you".
I think in Australia our financial regulator really doesn't appreciate it when a bank does something wrong. I know someone that works for the financial ombudsman (sort of, its complicated), and from what I hear, the cases where a financial institution hasn't done the right thing, as a case manager he can and does basically wipe out debts. But people can and do lie their way into debt (and to him!), and he doesn't have much sympathy when it bites them in the ass.
You can ask whenever you like, literally every day. In the industry we say 6 months is a good time. Allows a decent update to your history.
The only thing to be aware of is if they are pulling your credit report (they have to disclose that prior to actually running there check). If they do, wait at least 6 mo that or more to avoid multiple hits to your credit report in a short time.
Source: have worked for a major CC company for 6 years.
[deleted] ยท 1 points ยท Posted at 14:29:24 on March 22, 2018 ยท (Permalink)*
They may not know, depending on their computer system until they attempt. IF it will be required, they have to let you know and then ask your permission to pull, so you can change your mind.
You should actually try to figure out if the cost of doing it (time spent writing and finding addresses) is worth the benefit (odds of it working times the money you'd make).
As long as you can pay it off each month. A credit card is really good at leveling off income in a way that let's you pay for things as needed instead of waiting until you get paid.as long as you do not spend more than you bring home, then you are fine.
sPOUStEe ยท 39 points ยท Posted at 00:13:12 on March 22, 2018 ยท (Permalink)
Also a great way to get free money. If you're good about only buying what you need and pay off in full each month, you're basically throwing money away by not using a cash/points-accruing card. You might as well also build a fantastic credit profile, for if you ever decide to buy a house, car, etc.
This is basically what I did to built credit. Use and pay off monthly. I went from having no credit to a 730 in 1.5 years. The cash back was a nice bonus. Plus fraud protection I wouldn't have by using my debit. I was just recently able to get a home loan thanks to this.
Congrats on the new house and building a great credit profile! Making mortgage payments on time should boost your credit even more.
One thing I came to realize is, the more money you have and generally responsible you are, the better deals you get on stuff. I have kinda become addicted to seeing my score go up monthly now. If I get new credit cards, I love thinking about how much it'll lower my total usage and increase my credit score. I might have issues lol.
Having a good # of accounts, a decent amount of credit and low utilization outweigh age. But yeah, I don't get a credit card every week for the heck of it.
It's funny sad how the system seems to punish the poorest and middle class the most. Banking fees and penalties affect the poorest people the most while the middle class is being bled by the upper class pretty bad.
sPOUStEe ยท -1 points ยท Posted at 05:13:33 on March 22, 2018 ยท (Permalink)
I've been there and it sucks indeed. "Oh you don't have money? Here, you owe us more money for not having money." Wtf?
I do think that some of these situations can be avoided or alleviated by better planning/making better choices. Something I'd encourage everyone to do is automate finances. I'm terrible with money, and I've found automation to be a good safeguard against that. I dedicate a good chunk to 401k, a portion of my income goes automatically into savings, and my bills are all on autopay. Granted, I'm fortunate to have a decently paying job. I do think that even when I didn't, though (as when I got into financial trouble), if I'd had this system in place, I could have avoided a lot of what got me into that shitty situation to begin with.
Tl;dr: I agree certain systems suck, but I think there are things people can do to avoid getting into some of those situations, sometimes.
Oh god, bad memories of when I was a young dumb kid, lol.
[deleted] ยท 1 points ยท Posted at 17:34:42 on March 22, 2018 ยท (Permalink)
No, I think he was referring to how certain banks charge you a "maintenance fee" every month if you don't deposit a certain amount every month or keep your balance above a certain level at all times.
Thank you! :) And that's how I think of it too. I also sort of got into the whole gamification of my credit score and tracking it. I used to/still play alot of RPGs and strategy games so I kind of focused in on it like I was managing a stat sheet. There's nothing wrong with doing that. I always feel whatever motivates you to do the right thing, however you do it; if it works for you it works.
You're quite right. Gamification is powerful! I wonder if a gamified dashboard for life metrics would be a good idea. Like it would track your assets and liabilities, health stats, etc, and generate a score. The idea would be to get people hooked into making positive life choices.
I would be all about this. I already use a few financial apps, and things like google fit and myfitnesspal for my physical self. But something that sort of combined them and made a real life "stat sheet" would be so sweet. Throw a little healthy competition in there. My only worry would be the sheer amount of personal data combined in one place. It would be hard to do in a non-sketchy way.
Yep, privacy and security would be a concern. It would be cool if you could use the blockchain to inject trust back into the equation. Basically somehow make it so all access to data is irreversibly written on a blockchain that people can audit for themselves. An easier way is to always just use live API calls and never actually store data. Having no data means nothing to sell. You'd need to use good security practices to keep users' login details, of course.
I am kinda full up on side projects atm but I would like to explore this some more. In addition to assets, liabilities, credit score, weight/bodyfat, steps, maybe water intake what kind of things should go into this, you think? It would likely need to be user configurable as everyone has different goals, but having some ideas would help.
I like the blockchain idea. I didn't know how powerful blockchains are until I did some recent research. I think it's the future of privacy/truthfulness on the internet but you seem more knowledgeable about the technical aspects.
And I currently lack side projects lol. I was taking web dev classes a bit ago. Maybe something like this could get me back into it.
One thing I do have is alot of experience developing game systems (mostly paper and pen variety, as well as simple PC games). At first I was thinking integrated multiplayer competition, but these stats can be fudged by someone unless we use 3rd party data gathering apps which in turn creates that privacy risk. Instead we take the user volunteered metrics and develop a sort of character sheet that could be ported elsewhere. You level yourself and you level your avatar. This is probably a throw back to me creating D&D/other systems characters of me and my friends as accurately as possible lol.
Congrats!!!!! May I ask how much your loan is for? That's pretty much exactly what I did and I want to buy my first home but I'm scared that since I don't have a long enough credit history for something that expensive. I've been picking everyone's brain about home buying. Thank you in advance for any input.
I'm rather low income but was able to get a USDA loan for up to 150k. I did apply with my fiance, who has a score of around 660. I think if I had done it alone my max would have been maybe 120k. USDA is nice if you are lower income, since it has a low interest rate and no required down payment, but it must be qualified (rural locality, income maximums, decent credit score). Basically, if it's not in the city or high density suburbs you can get a USDA loan.
One more thing: The process of buying and getting financing was 100% easier then trying to rent. I was getting rejected from rentals because of a past non-violent criminal record. Nobody cared about my credit or anything, just that. So I found it almost amusing how easy it was to get in comparsion to trying to find a rental.
Indeed! I failed to mention these, but many offer great perks like this. The Uber card even has free mobile protection (though they're likely selling your data :/).
Everyone should do some research and use a card that's best for their lifestyle. It pains me when I see friends use a debit card while out and about.
And a good way to end that or at least improve upon that is to teach students not to carry a balance on credit cards...
acebb6 ยท 31 points ยท Posted at 22:20:01 on March 21, 2018 ยท (Permalink)
No doubt, but we have expectations and then we have reality. As someone who went though a little debt and now in a good spot, I can empathized. Some people still learn the hard way regardless of education. IE. Human.
Right, I get that, but shouldn't we start with providing that education in the first place? It's up to the individual to actually heed the advice. But I'd much rather a teacher teach their kids it's better to not carry a balance, than suggesting they find ways to temporarily have a 0%apr.
Rashaya ยท 12 points ยท Posted at 22:37:15 on March 21, 2018 ยท (Permalink)
I don't know why you'd think those two are mutually exclusive. As a former math teacher, I would have students investigate what happens in real world situations involving interest, like with credit cards and mortgages. At the end of the activity, we'd talk about why paying interest might be good or bad. My bet is that this teacher just threw in a bit of real-world advice with a similar lesson to help students get a better understanding of how negotiating can be another worthwhile option.
I have had damn near perfect credit since I was 18. The day I turned I got a secured credit card and never carried a balance for the longest time.
High 700s. The past year (25) my family ran into significant financial issues. I sold a lot of shit on the side to make sure I paid the bills. I have 5k in credit card debt I'm finally getting to pay down.
I listened to the advice of don't carry a balance as best I can.
But I didn't know about this and I'm glad to see it now
Good way to end teen pregnancy is to tell kids not to have sex
[deleted] ยท 17 points ยท Posted at 22:40:46 on March 21, 2018 ยท (Permalink)
No it isn't.
That's like telling someone to not spend money. It's theoretically possible, but realistically is just not going to happen.
junon ยท 22 points ยท Posted at 23:34:25 on March 21, 2018 ยท (Permalink)
I think that's the joke.
[deleted] ยท 5 points ยท Posted at 23:37:53 on March 21, 2018 ยท (Permalink)
Yeah.
He was comparing financial responsibility to celibacy. That's a really stupid comparison. I was pointing that out.
Responsible sex =/= don't have sex.
Financial responsibility =/= don't spend money.
junon ยท 5 points ยท Posted at 23:44:23 on March 21, 2018 ยท (Permalink)
Right, he was humorously pointing out that like how teaching abstinence is not an effective means of ending teen pregnancy, telling people 'just don't carry a balance' is similarly not effective financial advice by itself. You agree with the point he's making.
[deleted] ยท 3 points ยท Posted at 23:56:32 on March 21, 2018 ยท (Permalink)
I disagree entirely with the analogy he's using. "Don't carry a balance" is not like saying "Don't have sex". "Don't carry a balance" is like saying "Don't have unsafe sex". It's good advice, but lacks the detail to be very helpful.
"Don't have sex" is analogous to "Don't spend money", which is useless advice.
It's possible to teach people how to manage credit card debt while also telling them to avoid it in the first place. The two aren't mutually exclusive.
I mean, I was going to owe $300 to the IRS this year but instead I put my whole paycheck into an 2017 IRA (you can do this until tax day even though it's now 2018) and now I'm actually getting a refund. I'm going to have to use my credit card (my savings accounts get 5.17% interest on the first $2k so I don't want to dip into my emergency fund and lose a bit on interest, too). This is just an example of what I'm going through right now where having credit available helps me a lot. I will likely pay off my expenses on my card just fine within the current statement but someone without as much income per paycheck may need additional pay periods to recover if there is an emergency or just a tax situation like this. It doesn't hurt to have good options.
It's not really a 5% savings account rate. It's a "rewards account rate". Basically at 5% he's getting an extra 3.5% compared to a regular saving account. 3.5% on $2000 is ~$6 a month. So he's being paid $6 for fulfilling requirements for the "rewards account", generally X debit card purchases a month on a no-rewards card or similar.
That doesn't make it a bad deal in itself. But $3 a month for maintaining an extra account is not exactly a huge windfall.
Exactly, I have no idea what my cards APR is. I've never carried a balance in 20yrs. And if you need to make an "emergency" purchase, makes sure you have that in the bank. Get your cash back discount or points and pay it off. This is r/PersonalFinance not r/PoorPlanning
If you're doing well that 0% interest to credit cards paired with big returns on stocks this past year has been good. even if you don't get a 0 fee transfer offer you're talking paying 3% vs making 15% With mortgage rates inching high I could see home remodeling being a reasonable option too.
Ideally, your credit line isn't there for the good times. It's there for the bad times when unexpected shit happens. Maybe you'll screw up at work, get fired, and not find a suitable job for 3-4 months. Unless you have savings for this, you'll start to notice what your APR is.
You said not to carrying a balance, sounds a lot like not carrying a credit card. That makes sense to shoot for paying off by the end of the month. Though there are plenty of reasons to acquire debt you have to make interest payments on E.g. School, buying/selling, Car
Not carrying a balance is not the same as not carrying a credit card. It just means you pay off your full statement balance in full each month, and thus pay no interest at all.
Had to charge one up for a wedding. Did a balance transfer to another promotional APR card when the 0 APR ran out on the initial one. Hopefully it will be paid off this year but sometimes if you need to do something expensive you've gotta do it but you need to be smart about how you do it. I do use a rewards card for all my spending as well but that gets paid off every month... Dunno what the APR is on that one.
I did the same thing after our vacation last year. We put everything on the CC forthe miles and were going to pay it off as soon as we got home. Got an offer from our other CC for 0% on balance transfers for 18 months so I just transferred it over, make the minimum monthly payments, and keep the cash in my savings until the time comes when I need to pay it off. It feels bad having a balance on it but I can't think of a really good reason to pay it off right away.
I have a Google calendar recurring event every 6 months for every card I have. I just call and ask for something. Higher limit. Lower rate, etc.
I almost always get something.
Shnikes ยท 2 points ยท Posted at 23:59:41 on March 21, 2018 ยท (Permalink)
I wish I could get over the anxiety of being told no. I over analyze the situation and feel like asking and being told no makes me sound like an idiot. I know itโs not true. Itโs the same reason why I canโt bring myself to take my former property management company to small claims. They charged me a $250 cleaning fee but Iโve got photo proof otherwise. Itโs hasnโt been a year but I get so much anxiety thinking about doing it.
pandott ยท 3 points ยท Posted at 01:29:04 on March 22, 2018 ยท (Permalink)
Okay, for serious here. I must encourage you to start thinking differently. You are the customer. THEIR customer. It's YOUR business that they are making money off of. YOU are making them money. It's YOUR money that they are earning interest on. Therefore it is YOUR business they want to keep. It's very expensive for credit card companies to try to get new customers, so they want to maintain their customer base. What you need to do is leverage tactics against them, for example, let's say you have fairly good credit and get tons of balance transfer options in the mail all the time. Even if you are only 50% serious about using one of them as an option in case your call to lower APR doesn't work, you ought to USE THIS as a tool with the people you speak to at the credit company. Tell them that you're interested in taking your business elsewhere if they cannot work with you, the customer. Another example is using your experience as -- again to emphasize -- their customer! as a way to get favors. You've been on time with your payments dilligently? Bring that up! Good customers should get rewarded and in more than just "points"! Literally the worst they can do is say no. You will NOT damage your credit by asking.
If you have Dish Network call and ask to speak to the cancelation department. The regular operators can only offer Like $15 off, the cancelation guys can take off like $30
Bleda412 ยท 16 points ยท Posted at 07:10:50 on March 22, 2018 ยท (Permalink)
I'm sure Discover is very happy about it. They're getting tons of good publicity if 0% APR is big enough of a deal for enough people to contact them so that their lines go down.
Cainga ยท 1 points ยท Posted at 18:05:46 on March 22, 2018 ยท (Permalink)
Last week on here discover got a ton of hate for cutting benefits. Now this week itโs all love. Luckily for me I have other cards with those lost benefits. I donโt really need a 0% interest loan but itโs good news to tell family or friends that might.
Iโd like to say, I immediately got on the phone when I read this. I now also have 0% for 12 months and Iโm very happy about that!! Iโm moving in 3 months so this is perfect for new apartment needs!
Any tips for what to say? I just called and was told they were not able to adjust my account as it's already at the lowest available rate. I tend to pay off my balance each month but currently have about a $200 balance.
Said pretty much exactly the same thing on the phone (unsuccessfully) and through chat (successfully). Chat is the way to go imo for anyone else looking into this.
And certain companies know that so they don't do a chat. My student loans require you to call, and then there's a 20 minute fight through an automated system. I was very close to just saying "Screw it! I don't want my interest rates lowered" lol
_pulsar ยท 3 points ยท Posted at 17:25:57 on March 22, 2018 ยท (Permalink)
Introverts aren't scared to talk to people. They just need more time alone to "recharge" so to speak.
It might be automated. A lot of companies that are willing to give out things like this (refunds for subscription services are also another category where this is common) will have AI that detects when users are asking for something like this and just give it if they meet certain standards.
The "other credit cards" was probably the key word. They don't want you balance transferring out. Most cards will offer 0% for 12 months on a balance transfer.
๐๏ธ Stone-J ยท 116 points ยท Posted at 19:20:45 on March 21, 2018 ยท (Permalink)
I doubt it makes a big difference, but I used their online chat instead of calling.
Good luck with that, Chase has been aggressively raising rates recently. My accounts have gone from 10.24% and 11.24% to 16.99% in the last few years despite fantastic credit. Every year they bump it up a few percent and send a postcard with your accounts are lower than the lowest rates we currently offer, if you don't accept you agree to cancel your account. No amount of bargaining will change their mind and the 5% rewards are too good to cancel and I'm not carrying a balance anyways.
Yep, just tried myself. Chase claimed 24% APR was as low as it goes, despite me finding results for a new card from them going down to 16. After the 0% Period of course.
Wonder if going into a branch would be more successful with them.
I have a Chase Unlimited where the 0%APR expired about 4 months ago. I got a Cap One Quicksilver Reward which was about the same as my Chase Unlimited.
shx0082 ยท 3 points ยท Posted at 02:25:08 on March 22, 2018 ยท (Permalink)
Just got told to piss off by Chase after emailing them requesting a lower interest rate. Apparently 16% is the lowest available...
Just paid off both my chase cards and got the 0% re-up for a year same way as OP :P Haven't used the discover one in like 2 years yet they still dropped it to 0 so now I get that sweet sweet 5% cash back for free.
Yes, I've spent the past week going back and forth with emails to Chase about the APR (being told they can't go lower than 29.99% for that account -- was my starting APR when I had very poor credit 15 years ago. I have excellent credit, never miss payments, etc. for the length of the card, but they don't care). They kept saying that they "automatically review accounts every 6 billing cycles for APR reductions" and that things like management of credit, overall credit rating, etc. affect the rating. When pressed, they have refused to provide specific reasons for why my account wasn't "eligible," giving me almost the same boilerplate responses. I wonder if anyone ever gets a lowered APR during these so-called "automatic reviews." (They also refused to provide me with an average of how many accounts receive lowered APRs during the automatic reviews. Would be an interesting data point to know.)
Of course, they keep sending me offers for other (better) cards with far lower APRs and basically barraging me with offers for mortgages and auto loans and to do my checking/savings with them. Hah.
go to "more account services" tab and a little blue chat bubble will appear above the little blue megaphone. but beware: i just tried this, but to no avail. i even said i'd need to find a new credit card company and still nothing. :-/
[deleted] ยท 3 points ยท Posted at 23:21:06 on March 21, 2018 ยท (Permalink)
They likely have a subcontracted center in India handling the online chat (cheaper and accents don't come across in text) who isn't watched as closely. I'm not sure who you get when you call, but it's probably an American who's managed a lot more closely by corporate. Always try online chat first for this reason.
tskee2 ยท 8 points ยท Posted at 00:01:29 on March 22, 2018 ยท (Permalink)
This is untrue. I work at Discover, and 100% of both phone and chat agents are in the US.
[deleted] ยท 2 points ยท Posted at 00:09:50 on March 22, 2018 ยท (Permalink)
Ok. I used to work for Citi nearly a decade ago and this was how they did things.
tskee2 ยท 7 points ยท Posted at 00:11:10 on March 22, 2018 ยท (Permalink)*
Most places do now. Itโs a point of pride for Discover to have 100% US-based customer service. Providing the best service is something thatโs taken very seriously.
cdunjo ยท 2 points ยท Posted at 10:03:04 on March 22, 2018 ยท (Permalink)
"100% US based" isn't synonymous to "best service" though, might be a good thing to keep in mind
What's weird to me is they probably put a note on your account when you called (standard customer service procedure). So when you when to the chat service, whoever you spoke to had to see the note from someone else just 10 minutes beforehand. I wonder why they would contradict each other.
[deleted] ยท 11 points ยท Posted at 23:22:59 on March 21, 2018 ยท (Permalink)
I'm thinking different centers with different rules. Phone rep is probably an American at a corporate owned call center or a subcontracted place with more restrictions. The online rep is probably in India with fewer/vaguer restrictions on what he or she can do.
edvek ยท 2 points ยท Posted at 01:17:41 on March 22, 2018 ยท (Permalink)
Might also get some kind of bonus for something. I wonder when they give you the 0% for 12 months does it do a credit check.
you need to give them permission to do a hard hit, so if they donโt ask, then no. i think they can do a โsoft pullโ - which doesnโt effect your score - without permission. since youโre just asking for a lower rate, not additional credit, thereโs no reason for them to do a hard hit.
If a service professional thinks you're going to escalate to their manager, they'll often just acquiesce to your requests because the manager will give you what you want eventually anyway. A guy who calls twice in one day is high-risk for requiring more attention than he's worth, so it's easier for everyone to just give you what they can.
I work for a cable company in the call centerIwanttodie . Our chat reps are all overseas vendors who aren't trained well and don't follow the rules. Somtimes they'll do stuff for you they shouldn't and you get lucky. Other times they absolutely fuck your shit up beyond repair.
They're more likely to give you the 0% APR if you are a high spender. They make around 3% everytime you swipe so the more you spend the more they make.
I worked for Discover for about two years. When you chat with someone about lowering your APR, the agent literally just clicks a button on your account summary, and it tells them if you are eligible or not. If you are, it will immediately tell them your new APR, which they can then pass on to you. If you aren't, there is a script they have to read saying you're at the lowest rate available. Whether you're eligible or not is completely determined by the system.
I called and was given the script that said I was already at the lowest rate (and honestly, it was an extremely low competitive rate). But I asked again to see if I could jump on a promotional rate so I don't have to open up a new card with another provider just to get 0%, and they said... Yep! So it sounds like it's a little of both. Maybe they changed a few systems since you worked there?
Awesome, congratulations! Another thing to keep in mind is your account sometimes has promotions available to you, especially if you ever mention possibly cancelling. So, again, a completely system generated offer, but the agent has a bit more control on when to offer it. The promotional rates (12 months 0% interest) fall under that category, while the permanent decreases to your APR don't :)
I work for a... certain cc company. Often times we donโt have the ability to lower an APR, itโs just not possible, whether itโs due to account history, payment history, or just straight up business decision. Most of the time youโll get a letter that will identify a more specific reason they werenโt able to. Give it 3 months or so and try again, we really donโt mind checking, just please donโt be that jerk that gets irrationally angry when we canโt! :)
ImRuhn ยท 1 points ยท Posted at 03:45:23 on March 22, 2018 ยท (Permalink)
Thereโs nothing you can say unfortunately, your account is either eligible or it isnโt. Usually your not if youโve ended an apr promo within the past 6 months.
After reading your success, I got on their online chat, and same thing! 0% for 12 months! I've been trying to claw my way out of debt, but the high interest along with high balance has made it hard. This will save me literally over $1000!
Iโm just going to piggy back with a question. Iโm about to ask through online chat for lowering my APR, if they accept it, would I be able to ask for a credit line increase later on in a month or two? Iโve been at $750 as my credit line and my balance usually ends up being around $230, but since Iโm moving to a city for my job after graduation, a credit increase would be helpful
Which Company is your Credit Card through? It may be wise to see which companies do a hard pull vs soft pull on credit so you don't take a hit. Capital one has an option to request online with a soft pull only. If you haven't asked previously within the last 6 months, they usually obliged. Discover does a hard credit pull. However, they voluntarily increase limits every now and then.
Tread lightly on requesting future credit limit increases. Like I mentioned, Discover does a hard pull for CL increases. These hard pulls stay on your report for two years. This can begin to negatively impact your credit score even if your lowering your debt to credit ratio. Just a heads up.
I donโt think itโs that huge if youโre trying to get out of debt. If youโre not, then 0% for a year doesnโt really matter since at the end of those periods most of the time all of the past interest gets charged anyway and will have had no effect. It wonโt hurt but if you let it make you feel like you did something and make you pay off debt slower then it seems like kind of a zero sum transaction.
The APR is applied to new purchases, but you can contact an account manager and they can set you up with a 0% over 12months for your existing balance, but they will charge you a % of the total cash value that they loan you. Ie, if you ask for $3,000, they will charge you $90 And then you pay the rest of your balance off over the next 12months.
You can use the cards to make purchases on amazon or whatever the quarter shopping may be and use the card to your advantage. As long as you're budgeting correctly, of course.
salgat ยท 3 points ยท Posted at 01:28:47 on March 22, 2018 ยท (Permalink)
Credit cards in general are very smart due to both the rewards and protections, I just mean the part about spending beyond your means.
But you can do that with a 50% APR card, provided you pay your balance it won't matter. The person I was replying to was implying the intended to carry a balance, which is terrible.
Some people knock credit cards but then say they use a debit card for everything, which is an even worse idea in my opinion. This is assuming you are able to pay the credit card balance every month.
basyin ยท 1 points ยท Posted at 10:16:22 on March 22, 2018 ยท (Permalink)
Not if that debt is at 0% interest. Think of it this way, before they would have had to only buy what they could pay off by the end of the month to have an effect 0% interest rate - so if you're not getting paid enough to furnish your apartment you might get a mattress off Amazon, and a couch off of craigslist and call it good. Then the next month get a bedframe and a dresser, etc. etc. If you have 0% interest for 3 months, you can more fully furnish your apartment based on what you can pay back in 3 months which prevents this piecemeal scheme which overall is very time inefficient and also allows you to maybe buy something a little nicer that you won't have to replace within a year.
But yeah, if they can't pay it off within the 0% window, then it is a bad idea.
But that doesn't happen, which is why card companies offer this, they know people like the OP will but a bunch of crap they don't have the cash for, with hope in their hearts about paying it off. Then they don't, and they get hit with a ton of interest.
How long has your account been open? I have a credit card that's been open since 2015 and was thinking of trying to do this since it's my highest APR card.
This isnโt success, why is everyone so excited about this? I feel like Iโm taking crazy pills here. If you need to use a credit card to spread purchases over the next year itโs because you canโt afford them. 0% interest deals are a dime a dozen there are cards everywhere that will give that to you - itโs not free money youโre borrowing it from yourself...
If you do have to buy something this way for cash flow reasons it shouldnโt be exciting it should make you very uncomfortable and want to pay it off ASAP.
I donโt need to use my credit card to spread the purchases. Iโm choosing to because itโs free rewards.. with no risk! To each their own my friend, thanks for your opinion on my โsuccessโ
Someone else called it a success sorry, thought that was you. Anyway yeah Iโm sure youโve got it under control, Iโm just mystified by the general amazement in this thread that you donโt have to pay 16+% interest (when really no one should do that ever)
Sometimes people like to have liquid assets. If you have $5,000 in the bank, and need to spend $1,000, why not charge it at 0% and spread out paying it back over 12 months? Given the time-value of money, youโre actually coming out about 1-2% positive.
Yeah my point is this often makes people feel like they still have $5k when they actually donโt, and that maybe they donโt โneedโ to spend $1000 but once they hear the 0% thing it feels like โoh great now I can afford thisโ
Well yeah but how many people do it responsibly? Like if you spend 5 cents more than you otherwise would have you just lost and the credit card companies win. If you can mentally say ok I would buy this exact thing for this exact price no matter what but Iโm just gonna pay for it later then thatโs one thing but I really donโt think thatโs what weโre talking about. Weโre talking about people giving themselves an excuse to overspend
Do you have to pay them all off? I paid off one account (the second account has multiple loans, and Iโve paid off a few of them as well). I never got any confetti. I feel gypped.
red-bot ยท 1 points ยท Posted at 23:40:50 on March 21, 2018 ยท (Permalink)
OP please deliver
[deleted] ยท 1 points ยท Posted at 23:46:54 on March 21, 2018 ยท (Permalink)
I'm still in the 6 month grace period, which will technically get to be renewed come December because that's when I actually finish (I'm in community college doing classes but have 1 class left in my degree). So I can't even really do this. Lmao.
It is very unlikely to get a lower rate. Mortgages must be secured by real estate so you would have to have a lot of equity our down payment and even then the rate would not be much lower. Credit cards are higher interest since they are not secured by any assets.
Banks require that a mortgage is secured by equity that is worth more than the mortgage. To be able to refinance student loan debt into a mortgage, the amount loaned for the house plus the amount refinanced can't be more than 85% of what the house is worth. Mortgages also have high closing costs as well.
You can do a personal loan but it doesn't offer the same protections as a true student loan (i.e. adjusted payments based on your income).
My sister used the credit card checks that had 0% interest promotions and would pay off her loans in bursts that way. Throw 5k of interest free credit card at it and pay off the 5k over the length of the promotion while still paying normal payments on the loan.
[deleted] ยท 1 points ยท Posted at 17:07:32 on March 22, 2018 ยท (Permalink)
I've been considering doing this but never pull the trigger on it.
Possibly. But it's worth noting that making an unsecured debt (credit card, student loan) into a secured debt (mortgage) is generally a Very Bad Idea.
s7aind ยท -1 points ยท Posted at 05:29:13 on March 22, 2018 ยท (Permalink)
No because you could just default and declare bankruptcy to wipe it out.
4K77 ยท 8 points ยท Posted at 05:52:50 on March 22, 2018 ยท (Permalink)
Actually you can. You could pay it off with a credit card and Bam, it's effectively transferred. Or you take an equity loan and pay the student loan with that cash.
I work min wage and have one dependency claimed on my record with the loan company (Mohela). I don't have to pay anything and the bill do doesbt add up against me for a full year, and all I have to do is call and renew before the year is up to get it again just like that... Definitely call.
[deleted] ยท 1 points ยท Posted at 02:48:46 on March 22, 2018 ยท (Permalink)
axmantim ยท 171 points ยท Posted at 19:04:43 on March 21, 2018 ยท (Permalink)
Very interesting. Did you just call and ask for a lower rate, or did you ask for their 0% rate they give new members?
๐๏ธ Stone-J ยท 140 points ยท Posted at 19:19:41 on March 21, 2018 ยท (Permalink)
I brought up their online chat support and just asked for a lower rate.
axmantim ยท 73 points ยท Posted at 19:26:39 on March 21, 2018 ยท (Permalink)
sweet, I might do that. I have never paid them an interest payment in 17 years so it might not be useful, but it's always good to have that just in case.
๐๏ธ Stone-J ยท 39 points ยท Posted at 19:29:05 on March 21, 2018 ยท (Permalink)
My thoughts exactly! If you do, let us know if they give you the same offer.
Damn, I wish I knew this before I got another 0% interest card. I have the cash to pay off my healthcare bills but I would rather pay off the bills I have over time and get rewards. Oh well. Maybe next year. ๐ค
omegasus ยท 17 points ยท Posted at 01:00:40 on March 22, 2018 ยท (Permalink)
I tried and didn't get the offer, just 3% off my current rate. Better than nothing I guess
They offered me the same but I said I was looking to buy something soon that 0% or close to 0% temporarily would help greatly and they came back with the 0% for 12 months offer.
Dang I was gonna try something like that but figured that if anything, they would push back because they'd want the interest from a big purchase. They really didn't seem to go above and beyond for me, typical
chaseoes ยท 11 points ยท Posted at 23:06:41 on March 21, 2018 ยท (Permalink)
Don't do that. Save the offer for when you actually need it. What if you take it now and have an emergency in 11 months?
I just called them and asked if they have any 0% offers running and they responded with...why yes we do! You could approach the conversation in multiple ways
fiirmoth ยท 78 points ยท Posted at 19:23:27 on March 21, 2018 ยท (Permalink)
I have never had success with getting any of my cards to lower the interest rate on an existing balance. Kudos. I did, however, have a card with 0% balance transfer. I asked them to lower to 0% for current balance. They refused. So, I transferred to another card and then immediately back, which worked. Keep that in mind as a trick too
only issue is that you're usually paying a fee to transfer the balance each time. So, while you may still get 0%, you've just paid 6% (3% each transfer) on the whole balance.
gdq0 ยท 33 points ยท Posted at 22:04:06 on March 21, 2018 ยท (Permalink)
I got them to lower my apr a couple weeks ago but they also make my card unusable for the duration. I have a balance so did they just do basically nothing? Or will it count on future months even though it's the same money?
This is a great point. The same is often also true about credit limit increases. Only once have I ever been denied an increase in my credit card limit with either AmEx or USBank
Totally agree. Just to add: most credit card companies let you request a limit increase every 6-12 months. I have a calendar reminder for my cards and I think I've only been denied once. Even if denied, doesn't hurt to request it and get denied and then try again in 6-12 months.
Never gotten a hard pull from requesting an increase. Every one of my card's websites has a notice that a request is only a soft pull and I've been doing this every six months for 3 years or so
True, they will tell you. Chase will only do HPs. Citi will do a SP, but if you want more they do a HP. Amex will bounce between the two. BoA is generally a HP.
Just did a request that was approved 4 months ago with Chase and didn't get a hard pull. Possibly dependent on the type of card? Capital One is another that will just do a soft pull unless you want more than they approve.
imbeahp ยท 14 points ยท Posted at 22:56:09 on March 21, 2018 ยท (Permalink)
I can verify the Chase point. Just increased my limit about two weeks ago and I made sure the representative was clear in telling me that it was NOT a hard pull to request an increased limit.
BOA told me they were going to do a hard pull when I asked. I agreed, got the increase and it never appeared on my credit report... But my old limit was really low, and I had started paying my full balance twice a month to avoid hitting it...
I'm not sure, I won't ever bank with them. I'd assume it's a hard if you ask. But I bet it's a soft on the cards they open in your name.
If you really want to know, just ask the CSR. They are obligated to say something like "you understand we will retrieve a credit report for this decision." Any competent CSR will know what a hard pull is, so don't count on a WF CSR to answer that for you.
Chase didnโt do a hard pull when I applied and when I later asked for an increase. Only reason I remember is because of how shocked I was when I checked my credit score expecting it potentially dip below 700 only to find it had actually rose to my all time high at 799. Depends a lot on the customer I think than the company sometimes.
Edit: not sure why the downvotes. Sorry if it came off kind of as like showboating or anything but that was not my intent. Just wanted to throw in my experience in case anyone was hesitant about opening a new card even with having good credit. Not sure if what occurred to me is the norm though so you should probably ask before applying. Like the guy who later responded to me said, I assumed I would get a hard check but it never did.
I did not but my increase with Discover a few months back didnโt influence my score either. Not sure if itโs make any difference but I have over 8 years of credit, never missed a payment, keep my utilization rate below 10%, and have $19,000 in available credit so maybe if youโre in good enough standing they donโt do hard checks. Honestly I have no clue but I didnโt notice any difference besides it actually increasing ironically.
BMO Harris does a hard pull which is why I will never again request an increase from them, not worth. Discovers increase request process is so freaking simple. I love it. My CU has a really good auto decision engine so I've never had to wait for a decision. Made me even more annoyed by BMO, hard pull and had to wait over a business day for the decision.
Ally is a hard pull. I stick with the inces that have free credit score monitoring. I figure they already know my score? Capital one increased mine from $10k to $13k. Ally from $1k to 1500. I pay off 100% on all 5 of my cards. Not sure why Ally, one of my older cards is the lowest limit
ntfaw ยท 15 points ยท Posted at 21:56:59 on March 21, 2018 ยท (Permalink)
Never had a CC. What's a soft pull vs a hard pull?
It refers to the way the creditor requests information from your credit report. A soft pull won't hurt your score. In fact, almost any creditor can do a soft pull on you at any time. It gives limited information, the specifics I'm not positive of off the top of my head.
A hard pull is a full report of all details on your credit report. This will hurt your score. So generally you have to approve it, and it's normally for a new line of credit.
ntfaw ยท 2 points ยท Posted at 22:11:53 on March 21, 2018 ยท (Permalink)
Only a little. And only for a few months. It hurts because someone other than you is looking at your credit, which usually means you are seeking to get more credit. Trying to open up more credit than you already have makes you a potential liability for creditors, new accounts are more likely to pay late.
I have gotten hard pulls on almost every credit limit increase I have asked for yet it has never effected my score by more than 10 points and only for the month immediately following the pull. I know they are hard pulls because they tell me and ask for consent before they do it. I really don't think hard pulls are that big of a deal. For reference I ask for increases every 6 months for all 3 of my cards which are spaced exactly 2 months apart. So every 2 months for the past year I've been getting increases with hard pulls and have had near 0 overall effect on my score.
Hard pull isnโt that bad, especially when youโre countering it with my available credit. The pull will fall off but the credit increase stays. I have over an 800, and thereโs no point in maintaining that kind of score, if youโre not going to take advantage of it and throw your weight around. My equifax has like 12 inquiries and still came back with an 850 a couple months ago. They donโt hurt that much.
Yeah, in specific cases they don't matter. But it's generally bad to throw around advice that applies to a small prcentage of people. Hard pulls always hurt, but as you said, a credit line increase will offset it. That is, if you get the increase.
They donโt hurt that much, was the point. That applies to everyone. If you have shit credit, you probably shouldnโt be asking for an increase anyway.
Waclawa ยท 1 points ยท Posted at 22:41:15 on March 21, 2018 ยท (Permalink)
I'm not really good with financial stuff. One of my cards got increased randomly. Is there any benefit in asking for an increase? I'm in payoff mode right now and doubt I will really use them much anymore. I'll probably close the second one once I pay it off.
The bank hopes you will use more credit so you will end up paying more interest.
If you ignore the limit increase and continue to pay down your credit cards, it will work in your favor. This is because a large portion of your credit score comes from your credit utilization percent.
So for example if you have a card with a $1,000 limit and you owe $500, your utilization is 50%. If your credit card limit is increased to $2,000 and you make no new charges, your utilization now drops to 25%. To keep a good credit score it's suggested not to go above 10% utilization. This is of course a super simple example and can get more complex with more cards, etc, but I hope I explained well.
Edit: also once you pay off a card, it's smart to keep it open as long as it's not charging you a fee to keep it open. This keeps your credit limit higher, which helps your credit utilization stay low.
Cainga ยท 1 points ยท Posted at 18:09:44 on March 22, 2018 ยท (Permalink)
Does it ever hurt to ask for more limit when you donโt need it? I have quite a few cards with an 800 credit score and $60k of limit between them all. I guess I could keep asking each one for more limit but itโs kind of ridiculous at this point as I could buy a house on credit.
Ha, my Capital One card has been giving me CL increases automatically every 6 months. I didn't get one for a while so I requested an increase online and was declined because I don't use my card enough. My CL is currently $12k and I carry a $0 balance and maybe spend $50/month on that card. Fair enough I guess.
n8cnny ยท 19 points ยท Posted at 21:56:03 on March 21, 2018 ยท (Permalink)
Which Capital One card do you have? I have their "platinum" card and it's like pulling teeth to get an increase. It is my lowest CL card.
Quicksilver One. It was my first CC and I got it when my credit score was miserable. I carried a large balance on it for a long time and when I finally paid it off they stopped giving me CL increases, even though my credit score is more than 100 points above where it was when I first got the card.
n8cnny ยท 7 points ยท Posted at 22:38:35 on March 21, 2018 ยท (Permalink)
So funny, My credit score was in the low 700's when I got my platinum card. They apparently care very strongly on high and current balance. I'm currently in the low 8's and my CL is $3800, comical.
As someone who works in the credit card industry, the score by itself is not enough to warrant a higher CL increase. We really do look to see if you require it at all. If you have a credit limit of $4,000 but hardly go above $500 on the card, we really won't go out of our way to give you the credit limit. Usually your annual income also comes into play.
Brilliant! I requested the upgrade via online chat and they granted it. Thanks so much for the tip!
jt121 ยท 5 points ยท Posted at 00:22:07 on March 22, 2018 ยท (Permalink)
I've got a Quicksilver, just got a CLI yesterday from 9k to 13k. I rarely hit 1k balance on the card and always PIF, but never get auto-increases because I ask every 6 months for an increase.
My Chase ones, however... I have 3 and I've never gotten an auto-increases and I rarely ask for a CLI because of the hard pull.
stfsu ยท 2 points ยท Posted at 00:31:51 on March 22, 2018 ยท (Permalink)
I totally regret getting Capital One, they sucker you in by saying that they'll give you a credit line increase after six months. Mine is $1,000 and I got an email saying that at the six month mark I'd be at $1,500 which is a load of horseshit because the card doesn't even have cashback, so I have no incentive to use it compared to my BofA and Chase cards with higher credit limits.
Which Capital One card do you have? I have the Quicksilver and I get 1.5% cash back. It's not much but it's not nothing.
stfsu ยท 1 points ยท Posted at 23:39:02 on March 22, 2018 ยท (Permalink)
Since I'm building up my credit, I chose the platinum card, now I'm stuck with it so I'm just using it for very small purchases totalling below $40 a month.
Another user recommended this to me elsewhere in this thread and it worked.... Contact capital one and ask them to upgrade your card. I did an online chat with them and they upgraded me to the Quicksilver with no annual fee, no hard pull needed. Can't hurt to ask!
Thatโs because Capital One is a piece of shit company. I never use my Chase and they go stride for stride with my Discover and Bank of America cards. I ditched Capital one a long time ago.
marsist ยท 1 points ยท Posted at 02:08:02 on March 22, 2018 ยท (Permalink)
same thing happened to me, I never use it, and have carried a $0 balance for a while, they denied an increase because there isn't enough recent payment history, oh well, I'll stick to my other cards. I requested an increase on my discover card and they raised it $3k without flinching
Same thing for me. First card was capital one. Only place that approved me. They started me off with 500, then increased me to 3k. I never use that card now tho, so my most recent request was denied.
Discover is the best. You know who else is good? Assuming you have a decent credit score, Home Depot and Lowe's will raise your limit to five figures if you tell them you're looking at new appliances...
Discover is freaking awesome!!! I started out with a credit limit of $5100, less than a year later I requested a credit limit increase and....BOOM!!! $9,990
Whatโs their ceiling? Iโm up to $36k, but Bank of America always seems to beat them out for me. I used to ask for small increases, now Iโm just like, I want another $8k, hook it up.
jt121 ยท 7 points ยท Posted at 00:26:02 on March 22, 2018 ยท (Permalink)
I have 4 cards and they total about 34k. I don't and won't ever use all or anywhere near that, but I'm just curious how high it can go. Does income play a significant part in it? I don't make a significant amount more than my total CL, so I wonder if that would cause me to not go any higher?
Yes, they always ask your income. You can lie for a long time. I lied for years before they actually asked for proof. Under like $100k, they just take your word for it. Then eventually my income actually caught up to my lying, so I can prove it now.
36, holy cow. They did big bumps for me up to like 20k and it's creeping now. I've got the income to support it, they just kinda stalled out on me. Don't know why, I've been a customer for a decade with flawless history, even did one of their personal loan offers years back. Amex blue cash preferred is my highest line at 30.
Not sure why they did it that way.... Honestly, I was happily surprised for it to even be over 3000 to start with and was even happier with the increase :)
Agreed. Discover has always been generous with the increases over the years.
And I like to play games with Home Depot, I told them I was looking to build a fence and do a complete reshape of my yard and build a deck. They raised my limit to $10k. I used the special offers for 0% to actually build a fence, and repair a bathroom, and paid it off in 4 months. Zero interest. So they sent me emails about specials on appliances, so I picked the most expensive fridge I could find and added it to my online cart while I was signed in to my account. Then left it there. After a week they sent me an email about special financing on appliances, and take an additional 10% off. Checked my card and they had bumped it another 2k. They watch your online activity on the stores site.
That happened with my jcpenny store card when looking to buy furniture for my new apartment. I was going to forgo the store discount to charge it to another card that had a higher limit & instead they raised my limit. Took them 5 years to see I never went back & lowered the limit back to normal.
Yeah I donโt know why people are so afraid of hard pulls. Itโs a 5-10 point ding usually and it bounces back in a few months. Whereas the benefits of a higher credit line are long-lasting.
4K77 ยท 1 points ยท Posted at 06:10:21 on March 22, 2018 ยท (Permalink)
A good personal finance person would carry zero debt. For example, I use my card every month but pay it in full, since carrying a balance doesn't improve your credit score. So what's the point of raising your limit, or is there no point?
I challenge your premise. (Do you have a mortgage? I do.)
Taking advantage of 6/12/18 month financing for large purchases at 0% is a good way to do whatโs called โconsumption smoothing.โ
Iโve had to replace a refrigerator and a dishwasher in the past six months. I donโt consider new appliances an โemergency.โ If I can get 18-month financing of a new d/w at 0% (thumbs up for Bosch and Best Buy), why wouldnโt I? Minimizes the effect on my monthly cash flow. And if my CL is high, a big purchase is still a relatively low utilization, so minimal effect to my score. Auto-pay is easy to set up and guarantees that I donโt mess up the terms of the offer.
fiirmoth ยท 11 points ยท Posted at 19:25:35 on March 21, 2018 ยท (Permalink)
Only if they do a hard pull. Some cards will have an amount just kinda sitting there for you they will give up to if you ask. Others do a hard pull no matter what. Ask, but clarify will you be doing a hard credit pull? If yes, then that will affect by ten points or so
๐๏ธ Stone-J ยท 16 points ยท Posted at 19:27:49 on March 21, 2018 ยท (Permalink)
Just to continue this, I can confirm that Discover card does not hard pull on a credit line increase request. And they state if they ever need to, they would let you know first. I've done it a couple times, better luck over the phone.
I can piggyback on this and confirm Discover has not done a hard pull for any of my limit increases.
[deleted] ยท 3 points ยท Posted at 02:55:50 on March 22, 2018 ยท (Permalink)
Yep after being reminded to do an increase request because of this thread, I read what to do for Discover. It says if they need to do a hard pull they will specifically ask for consent. I got an increase today with just a soft pull. If you want a bigger increase they will do the hard pull per your request.
As well, any change in your credit line can and most likely will affect your credit score as it raises your total utilization. Usually, this is a positive effect. But yes, the initial hard pull can hurt your credit score around 5-10 points. Usually this is recovered within a few months.
Yeah, you should definitely ask first. BoA did a hard pull for a really stupid reason once. It didn't hurt anything for me in the long run and wasn't a big deal, but I felt silly for not asking beforehand and just assuming it wasn't a hard pull.
I had two credit cards with them and wanted to close one because I wasn't really using it anymore. While I was on the phone with them closing the card, I asked if it would be possible to move the limit from card I was closing and add it to the card I was keeping. "Sure, no problem!"
They did a hard pull. Like, really? You already trusted me with that limit already, we're just moving it from one place to another here. You really have to check again?
If the bank does do a hard pull, it's only about a 10 point drop that lasts 6 months (the pull stays on your report for 2 years but doesn't affect your score after 6 months and banks don't really look at it beyond that point either).
The other factor is utilization of credit. Even if you pay your bill in full each month and don't pay interest, the total balance on your card is still debt until it's paid and reported.
You want your utilization to be <10% of your available credit on each card, and in total across all cards. So getting your limit up will help your score just because it gets you closer to that 10% mark. Utilization doesn't keep a history though, so even if you have a low limit on your card, if you make a big payment a few days before the statement comes out, the reported balance will be lower and your score will immediately jump up to match (most banks report to the bureaus a few days after the statement closes, so check then).
Only if it is a hard inquiry. You can actually call your credit card provider and ask them if it is a hard or soft pull. If it is a soft inquiry then there is no harm in asking for one.
hermi0ne ยท 13 points ยท Posted at 22:18:00 on March 21, 2018 ยท (Permalink)
This is true. I called Chase about my Chase Sapphire Preferred card, which I wanted to upgrade to the Chase Sapphire Reserve.
They told me that I had to wait 3 months AND I also needed a 10K credit limit (at the time, my credit limit was 8K). I told them not to bother with a credit check and that I'd just call back in a few months.
I logged onto my account a few hours later and they'd automatically upped my credit limit to $10,500. No credit inquiry or anything, and I didn't even ask.
Have you had the card for a year already? I thought you were only allowed to product change after having a card for a year? I just got the CSP, but I really wanted the CSR so I'm looking to upgrade as soon as I can.
Thatโs why I wasnโt able to upgrade, they just upped my credit limit so that then my year anniversary comes I can just upgrade it. I got the card in May 2017, so I have to wait another couple of months.
Glidow ยท 3 points ยท Posted at 02:12:42 on March 22, 2018 ยท (Permalink)
I just logged into my Capital One app and requested an increase and it was granted immediately. I had no idea it was so easy!
It can affect it in 2 main ways, 1 good and 1 bad. I've actually never had the 'bad' effect that some others mentioned in the comments here, but will mention it just for full disclosure:
The Good - Increasing your credit limit will decrease your % of credit used calculation, which is a main component of your score. Say you've got $5k debt on a car loan, and total credit available of $20k. If you get one card to increase your limit to 25k, you've gone from 25% credit used to 20%, and this will increase your credit score
The Bad - Apparently some card issuers will do a hard pull on your credit file in order to confirm if it is appropriate for them to increase your CL. Hard pulls do show up on your credit report, and generally have a small negative effect on your score for a few months. This effect will be greater if you have many hard pulls in a short period of time, whereas if you aren't applying for any other credit having just 1-2 pulls over a 6+ month period won't have much effect at all
[deleted] ยท 1 points ยท Posted at 16:01:34 on March 22, 2018 ยท (Permalink)
I think you definitely should! Depending on who your cards with, it may be as easy as just logging into their online banking portal and making the request (both Amex & USBank let you request online, and AmEx instantly gives you the decision)
bjverzal ยท 73 points ยท Posted at 00:10:16 on March 22, 2018 ยท (Permalink)
I work for Discover. Itโs a great place to work. First year employees get 25 days off (assuming you start in January). Lots of career potential. Every day is jeans day :) I also work from home as much as I want. Check out their jobs if you are interested.
[deleted] ยท 17 points ยท Posted at 04:32:35 on March 22, 2018 ยท (Permalink)
My dad works in HR there... he'll be happy to know that someone out there appreciates his efforts for a positive work environment!
So Iโm on the dark side (management) but Iโm a success story as it were. IT technical for decades at multiple companies and about 3 years ago (Iโve been here 10), I was promoted to management. So Iโm tied to a pager 24x7. Now as to actually working weekends - no not really. But on call? Yup .. every day.
I have both a Discover Card and a Capital One card and in my experience, Discover is much more willing to work with me on matters like credit increases, apr rates, etc. I feel like whenever I contact CO with something like that I always get "We're sorry but at this time ___". And I've never missed a payment, carried a balance, nothing. Only thing hurting my credit is (lack of) age.
Same experience here. Discover has been good about giving me credit limit increases (3 or 4 increases since I've had the card), whereas Capital One has been stingy (only 1 increase). As a result, my Discover card has about double the credit limit of my Capital One card.
They just automatically give me increases too which I like. My credit limit is up to $9000 now. I'd definitely recommend it to people new to credit cards because it will increase their limit automatically over time which I think would probably help with building their credit score.
summ717 ยท 12 points ยท Posted at 20:02:13 on March 21, 2018 ยท (Permalink)
that has also been my experience. I can never get Capital One to increase my credit limit or basically do anything beneficial. Discover is much easier to work with.
That's weird because they gave me one in the November. I didn't ask or even want it. Around that time my other CC's also gave me a credit increase. I figured they wanted to get me to spend more since the holidays were coming up.
Shinion ยท 12 points ยท Posted at 22:59:25 on March 21, 2018 ยท (Permalink)
I work for the Credit Card side of one of the big banks, that's probably because Discover (as well as amex) is a "credit card issuer" and not a "bank" so they follow different regulations than Chase, Capital One, Citi etc.
Shinion ยท 1 points ยท Posted at 06:23:05 on March 22, 2018 ยท (Permalink)
I'm not gonna pretend I understand it all since I'm just the frontline customer service person. Maybe its just the bullshit they tell me to spew when they ask why discover and amex can lower APR's but we won't. Maybe it comes down to what others have said with Discover trying to fuck people with deferred interest, when the bank I work for doesn't do deferred interest at all. Idk to be honest, I'm just repeating what I was told to try and be helpful without seeming like a shill, or giving any information that could be used to identify me.
bhelwig ยท 1 points ยท Posted at 00:41:05 on March 22, 2018 ยท (Permalink)
I have a Discover and a Capital One card as well. My Discover limit just randomly increased the other day, so I got on Capital One to request an increase: denied. Worth a shot.
I have a Capital One card that I missed a few payments on back in 2015 so they "restricted" the account. I've called and spoken to fifteen different people and they all have basically said the same thing: the restrictions cannot be lifted, despite the balance now being zero. They still report to the bureaus though so it helps my utilization.
summ717 ยท 2 points ยท Posted at 19:46:00 on March 21, 2018 ยท (Permalink)
I asked them to refund my fee and they flat out told me no. My card is near maxed out and I'm working on paying it off, but fuck that fee.
AmmonM ยท 1 points ยท Posted at 04:14:32 on March 22, 2018 ยท (Permalink)
I just quit working customer service for Capital One. The only APR change they would let us do is lowering the rate by 4% for 7 months. But even that was not available for most customers. The computer decides if the rate can be lowered, and even supervisors canโt override it. If a customer asked to close their account, we actually had to close it rather than having the option to lower it :(
Picodick ยท 34 points ยท Posted at 21:48:28 on March 21, 2018 ยท (Permalink)*
I did this recently as well. We had zero balance, I wanted to buy a couple large things and pay over a couple of months but no interest. Called discover they lowered to zero for 12 months. I went and bought my large purchase. It's been three months I owe 200 still but will finish next month. Good deal all around.
Edit spelling
scottg96 ยท 25 points ยท Posted at 21:48:08 on March 21, 2018 ยท (Permalink)
Well I'll be damned! Just got the 0% promotion applied on my Discover card as well. Thanks for the heads up!
(I'm one of those people who always pays off their statements/balances in full, though. So it probably won't have much of an impact.)
๐๏ธ Stone-J ยท 7 points ยท Posted at 21:52:39 on March 21, 2018 ยท (Permalink)
Glad I could help some people!
DSJ13 ยท 1 points ยท Posted at 03:17:31 on March 22, 2018 ยท (Permalink)
So am I, but itโs opportunity cost. Iโve never paid interest but I usually have a balance at 0% somewhere if theyโre going to give me free money Iโm going to take it.
I messaged but didn't have any luck with promo or reduction, however seeing your rate makes me realize I think they really are lower. I'm at 13% right now but still feel that's high.
[deleted] ยท 50 points ยท Posted at 21:19:56 on March 21, 2018 ยท (Permalink)
And if you are military, even if you got your cards later, many credit card issuers will make it retroactive and pay you back the interest you paid sometimes to the tune of thousands of dollars. Google SCRA.
This. My military friend recently called them about this and they gave him a special APR in additional to refunding thousands in interest fees.
Savaric ยท 5 points ยท Posted at 23:36:43 on March 21, 2018 ยท (Permalink)
I just used SCRA to knock a student loan down. Cosigned on my ex's last semester (stupid me) and she refuses to let me off of it even though I'm eligible to be released. Figure I can at the very least limit the amount of interest that needs to be paid to the loan. Additionally, they'll go through the life of the loan and modify the rate and adjust the payments to less interest and more towards the principal. If only she was not financially incompetent and paid more than the minimum payment each month...
But yeah, SCRA is worth looking into for all of the benefits.
Actually legally I believe most cards need to accept SCRA if you qualify for it.
jc2345 ยท 20 points ยท Posted at 23:35:19 on March 21, 2018 ยท (Permalink)
I just logged on and was greeted with this messge. "Thank you for using Discover Card. Unfortunately, none of our representatives are available at this time due to high traffic levels." Lmao!
bjverzal ยท -1 points ยท Posted at 00:17:36 on March 22, 2018 ยท (Permalink)
Thanks for the tip. I just called our command center and the issue was resolved a little while ago. Iโm not at liberty to discuss the details however.
For what itโs worth, they said I could write a letter to their correspondence department and ask if they could lower my apr but the said 0% wasnโt possible.
If you really need a 0% APR for a while and you want to stick with Chase for simplicity you can get their Freedom or Freedom Unlimited which currently (always?) comes with 12 mos. 0% APR.
I mean I don't need it but it's nice to have. I'm likely just going to do a balance transfer to my Citi card and take advantage of the 3% transfer rate.
Chase is a great place to bank with if you are in a good financial situation.
Aka, as long as you have 20K in all of your accounts they will like you.
I am a middle class white boy 26, and good decisions have put me in this category. They'll do whatever they can to help keep you.
I told them I didn't feel like paying the interest on my credit card (I could easily afford it) but I thought it was a waste, and the money would be better in my savings account. They dropped my one credit card down to the lowest APR they could offer on it, and added 10 months 0% on my newer one.
Then again you have to have good savings habits and having a decent balance for them to treat you nicely.
I tried with Chase a while ago. They told me they would review it during my 6 month account review... which would occur 7 months from the day I called... I transferred my balance to discover and now basically use it only for places that only take Visa/MC.
Iโve used Discover as my every day card for a decade and they are the best. Their customer support is awesome, fraud protection is awesome, cashback program is awesome, and theyโve never turned me down for a limit increase. If they canโt give me a permanent rate decrease, they usually offer one of these kinds of promos. You can call every 6 months for this shit.
Only downside Iโve seen is Discover isnโt taken everywhere like Visa, so your friends break your balls all the time about it, but you just carry a backup Visa and youโre set.
lolcaps ยท 9 points ยท Posted at 01:18:10 on March 22, 2018 ยท (Permalink)
Yep, Discover won me a 3-month long dispute with Progressive and for that I will keep my account with them always. Top notch customer service. My friends definitely give me a hard time when places end up not accepting it... but luckily thatโs been happening less and less over the last year I feel
Same! Itโs now my only CC (but I donโt use CCs at all anymore).
Excellent customer service. My only nitpick is I think there is an extra layer or two in the phone tree before you speak with a live agentโ which I dislike.
My wife experienced someone using her card to purchase something in our town (they ordered something online and was having it delivered to our local Best Buy). She noticed that she was over her limit and was like "thats weird". She keeps up on her cards pretty well (something I might consider learning about XD).
Anyway she calls them, they agree its weird, and after a bit of talking they block her card, send her a new one and refund the entire transaction. No issues at all. I have never trusted a CC company but Discover is amazing :)
Ditto, I've had my student card for a little over a year and they've raised my credit limit twice without even asking, given cashback for good grades, and granted me the 0% APR promo mentioned in this thread. Great service!
As someone who did get good grades, I wouldnโt say youโre doing absolutely nothing in getting said grades, but itโs more like theyโre rewarding you for something youโd be doing anyways.
Agreed. Just yesterday they upgraded me to Discover It out of the blue. At first I was pissed (and very skeptical) that they changed something without telling me, but it turns out I get 0% APR for 14 months plus they double my cash back after the first year, without losing or changing anything else about the previous agreement. Hard to complain
I used to think this. I lost my job suddenly about a year ago. I used my Discover IT card as a daily spend for about 5 years, paying it off every month. I had a balance left I couldnโt pay off immediately due to my unfortunate situation. Discover was the only card that would not work with me. I didnโt exactly expect anything, but my other cards were immediately helpful. Capital One, Synchrony, Barclay, and AMEX, all so helpful.
Then, I finally get back to work and also happen to get a small windfall from an old VA appeal that was approved. I send Discover $4,000 to pay it off and start using it again, and they hit me with a 14 day wait because of โsecurity reasonsโ or some horse shit.
Funny because I paid off a $6,500 Loweโs balance and a $7,000 car loan the same day. I got the title to that car yesterday and Iโm still waiting on Discover to clear that payment.
Iโve called multiple times and get short answers, rude customer service agents in the fraud department and no real answer as to why this happened. They have the money yet havenโt even credited it to my account. Very unhappy with Discover.
gpc0321 ยท 16 points ยท Posted at 20:56:02 on March 21, 2018 ยท (Permalink)
That's cool. I really like Discover. I'm just finishing up my first year with my Discover It this month, and I have 0% APR until June. I couldn't remember if I had 0% APR, and I had a purchase I wanted to make, but wanted to pay it off in increments instead of draining my bank account in one swoop. I knew I didn't want to pay interest, so I messaged them. They told me I had 0% until June and would that be enough time? I said yes (and it is), but it makes me think they may have offered to extend it if I'd asked. Nice folks at Discover.
Shit. Well Iโll be getting that chase credit card after all. Thereโs an option to get like 150 back after spending 500 or the 0% charge for transferring credit over to that card.
Blue Sapphire is what I used. If you get denied on the online website, call to speak to a credit approval reconsideration expert. Explain your plan to pay off the balance transfer and why you deserve the card to be approved. In my experience? Youโll be approved if you legit can support the cards payments at what you tell the rep you can pay each month.
Friend got a Discover card with 23% APR, then asked to have it lowered after a couple years of very low usage. They lowered it to 17.5%... I know it doesn't sound too good, but it's been his lowest-APR card for 2 years now (his credit score is about 670).
Former employee at a major credit card company here. Sometimes when you call, you might get a trainee. They wont tell you that, but the thing is and what some people dont know is that people who work at call centers have their phone calls timed. The goal is to take care of the card member as efficiently as possible and in a timely manner, so as to get the next card member on the line. There are some employees who will do almost anything just to get the card member off the phone in order to keep their average call times down, trust me they dont want to keep you on the phone as it is. With that being said, you might actually luck out and come across a new employee or just someone who doesnt give a damn and will give you what you want even if you might not even be qualified for it. Im not sayin i ever did anything like that, oh goodness no. Bottom line, it definitely cant hurt to ask!!
Yeah get a comment put on your account that you waist reps time, see how that goes. I've worked in many call center and all though they say not to tag difficult customers every place had there own way of not tagging an account. The trick is don't be a dick and they will didn't more time with you, they work on averages so one 30 min call won't hurt them when the rest are 2 min apr promos
tsr6 ยท 2 points ยท Posted at 15:43:39 on March 22, 2018 ยท (Permalink)
Former call center employee, this is true with just about any call center.
Call handle time, revenue per call, calls per hour, ect all factor into the key performance metrics just about anywhere.
Trick is finding the sweet spot between all those metrics.
I have no idea why iโm reading these comments, i have no clue what APR is, i donโt have a credit card, but i know for damn sure now iโm gonna save this info somewhere to maybe use it someday
How old are you? Even if you don't feel like you need one, it's not a bad idea to open one anyway and, for instance, put one of your recurring payments on it. It will raise your credit without you having to do anything. One reason why this might be a good idea is because credit age is important for credit, so even if you don't use it for anything but your electric bill, having an existing credit when you actually need one will improve your score.
Iโll definitely get a credit card as soon as iโm 18, hadnโt heard about credit age though, so thanks, guess thereโs some more stuff i need to look into sonewhere this year
It's one of several factors that go into determining credit. But it's super important to remember that you should only open it if you can actually maintain your finances. Credit age only helps so much and doesn't make up for maxed out credit card debt. I opened my first credit card when I was in college and it's still open and the age of it has a significant impact on my credit score because it's like 5 or 6 years older than all my other credit cards. Things like credit inquiries also affect it though, negatively. So just the act of applying for a card can lower your credit (only a bad thing if you apply for several cards and get declined or something). I'm sure there's a thread or something on this sub that would be a better place for information than me.
I recommend going Secured credit card and applying for the Capital One or Discover secured cards where you just deposit $50-$2000 and the amount you deposit is the amount that you can borrow no more unless you deposit more money.
ae232 ยท 5 points ยท Posted at 22:09:52 on March 21, 2018 ยท (Permalink)
Annual Percentage Rate. Itโs the interest on an outstanding credit card balance.
If you ever do get a credit card, all you have to know is to pay off the entire balance every month. Then you won't ever need know what credit card APR is because it won't matter if it's 0% or 1000%. You won't need to know tricks on how to get it lowered because they aren't charging you money for carrying debt.
Idk man Iโve used the 0% cards for medical debt and projects before and itโs free money. In fact, when my son was born I split my payment (like. 2k) on two cards 0% plus a bonus after spending a certain amount (around $150 after spending $1000). Literally free money.
[deleted] ยท 9 points ยท Posted at 20:59:09 on March 21, 2018 ยท (Permalink)
FYI - i got my discover card 8 months ago. So new card holders, this wont work for us lol
Just tried this and this is the repose I received:
I certainly understand. Since your account is less than one year we are unable to lower the APR at this time. Please feel free to check back (date)
I always ask for for a better price or freebies, despite the embarrassment my missus feels.
Car insurance renewals are automatically sent out. I always call and ask for a discretionary discount and have always gotten it. Be ready to pay the insurance company on the phone.
If I get a bank fee due to my mistake, I call to ask them to drop it.
When buy a large item, I always ask for a better price and I almost always get a couple of bucks off.
If you don't ask, you will definitely not get anything. Just be friendly and pleasant and don't be upset if you don't get anything.
The age range of people who work in online servicing (chats/messages, emails, web support) is right around 19-25 for the majority. If I'm not chatting with someone, I'm usually browsing reddit on my phone waiting for my customers to respond. :)
Every year around my birthday, I called up American Express and asked for a lower APR. Not too often to annoy them, always perfectly polite and citing my impeccable payment history.
They denied me every year but always offered a higher credit limit. Dropped the company at my last birthday after 6 years of daily use. Fuck em.
A lot of banks/card companies just won't 'negotiate' interest rates on cards because it's not worth the time. Try for an annual fee waiver/refund or bonus points and you might get what you want. When 90% of customers aren't paying interest and the ones that are either don't even notice or are actively trying to get rid of the card, it makes no sense to dedicate training/infrastructure to allowing for lowered interest rates. If you're paying interest on a rewards card just do a balance transfer imo.
Yea I believed until about 2 years ago that carrying a small balance was better than no balance, so I purposely kept $100-200 from month to month. Not anymore though.
This is good to know. Thanks :)
marktx ยท 166 points ยท Posted at 21:30:57 on March 21, 2018 ยท (Permalink)
Those of us who pay off the closing balance every month are like yawn... I don't even know what my APR is.
Say you have a 0% APR card for 12 months with a $5000 limit. This card also gives you 1 air mileage point per dollar spent on the card (for simplicityโs sake). You COULD keep paying for things with your debit card as normal, but youโd be throwing away mileage points. So you can use the card for every purchase you make while continuing to pay it off every month. If you spend $5000 a month on the card, thatโs 5000 points. Do it for 12 months and you have 60,000 points.
You spend the exact same amount of money with no risk of paying interest (until the last statement).
You know you don't have to pay interest on credit cards if you pay them in full every month, right?
My current credit card has non-zero APR (I honestly don't know what it is because it doesn't matter), and I get tons of rewards and don't pay anything in interest.
It's a waste of time if I'm not going to take advantage of it.
I'd argue that it'd make certain people more likely to overspend on something that they wouldn't have otherwise purchased, with the plan to pay off within the time frame. But life circumstances could change that make paying it off difficult or impossible.
Of course, it's completely possible to be responsible with it while keeping a few extra bucks in other accounts to get a little more interest, but that's not worth it for me, personally.
lewdite ยท 5 points ยท Posted at 22:49:57 on March 21, 2018 ยท (Permalink)
I thought it was 0% to begin with... but I pay it off every month regardless
Immo406 ยท 23 points ยท Posted at 21:41:53 on March 21, 2018 ยท (Permalink)
Srsly. Only reason I have a CC is to have a credit score and incase my debt card gets declined for some odd reason. I just need to go get the Costco credit card and charge everything to it for the benefits, have the debt for emergencies.
OK-la ยท 29 points ยท Posted at 21:49:34 on March 21, 2018 ยท (Permalink)
Those points tho! I pay everything with my cards and then I pay for Chrismas presents with the rewards.
TheERDoc ยท 36 points ยท Posted at 22:02:07 on March 21, 2018 ยท (Permalink)
Yep. Real reason is points and/or cash back. Essentially free money. This is the reason why debit cards are stupid and why people that use them don't know anything about money.
A little harsh, but I agree with you. However, some people are just better off without one. Giving up the points, protections against fraud, extended warranties and insurance would be brutal, but if you can't control your debt and spending it's for the best.
Makes no sense though. Itโs just the reverse management of funds ie opposite way of counting how they do with a debit. Essentially debit is spend down til 0 vs a cc which is spend up til checking account amount (not to exceed). Chargeback and Credit protection have saved me numerous times, and frankly I donโt feel comfortable giving out my debit number because if that money is stolen itโs incredibly difficult to recover and I will be without that money until/if it even happens.
Another point too is if you canโt manage to keep money around, youโre going to get fucked with overdrafts.
hermi0ne ยท 10 points ยท Posted at 22:21:14 on March 21, 2018 ยท (Permalink)
Yeah, I never pay for flights anymore, ever. People ask me how I can afford to travel internationally so much... credit card points!
Immo406 ยท 5 points ยท Posted at 22:37:10 on March 21, 2018 ยท (Permalink)
How much do you spend a year on that card tho?
hermi0ne ยท 12 points ยท Posted at 22:56:18 on March 21, 2018 ยท (Permalink)*
So I have three cards that are all within the Chase Ultimate Rewards ecosystem -- Chase Sapphire Preferred, Chase Freedom, and Chase Freedom Unlimited. I probably spend around $35K between all three every year. All three earn Ultimate Rewards, and the reward points are transferable. I earn points on all three then transfer them all to my Chase Sapphire Preferred for maximum redemption value.
Chase Freedom Unlimited: 1.5 points per $1 on everything
Chase Freedom: 5 points per $1 on rotating categories each quarter, up to $75 back (so $1500 spent per quarter). This past quarter was gas, phone, and apple pay, so I was able to max it out pretty easily with using apple pay everywhere I could.
Chase Sapphire Preferred: 2 points for each $1 spent on travel and food.
Keep in mind I also refer friends to cards, shop through the chase portal, etc and earn extra points that way. By maximizing everything I've earned 120,000 in points just this past year alone (NOT including the 50K sign up bonus), which comes out to about $1200 in raw cash or $1500 in plane tickets when booked through Chase since they add an additional 25% as a benefit of the Sapphire card.
With tickets to Europe, Asia, etc often being $500 roundtrip, that's 3 roundtrip international tickets right there.
I also have an Amazon card which I use for Amazon only (and I guess now whole foods).
Immo406 ยท 3 points ยท Posted at 23:27:47 on March 21, 2018 ยท (Permalink)
50k points is worth 500 cash and I think 750 travel booked through them. I have the same card. Me thinks he's embellishing allot, he also left out that his card cost money to have
I will. Thanks. If you're using a debit card to avoid being late on bills then my point stands and you suck with money, but at least you're doing yourself a favor. If you're in a higher earning group that doesn't need "free points" or whatever then sure. I guess you're not missing much.
Chasing some free โpointsโ is silly. People should focus on their spending habits, what they buy, investments....not worrying about getting something free from using a credit card.
Just my observation on how many people behave with money. Iโm sure many are just fine, but a lot of people out there just terrible with money thinking they are getting ahead doing that stuff
And those are people that are terrible with money. If you have credit card debt and don't pay off your balance then sure, keep a debit card which further reinforces my first point.
The idea is that if you're a responsible spender and are going to spend money on groceries, food, hobbies, etc (stuff you'd be spending it on anyway) then there's no downside to having a credit card that gives you benefits (points, cashback, miles) for using money that you'd already be spending. I don't think anyone is or should be advocating blowing money on random stuff just to obtain more points.
Rookie move. I literally only use my cc every month. Saved me numerous times with charge backs and the extra level of theft protection. Literally just today closed a chargeback worth $350 - cc company did all the work. Never use your debit bro, if that money gets stolen youโre fucked until/if the bank can recover it.
n8cnny ยท 5 points ยท Posted at 21:58:30 on March 21, 2018 ยท (Permalink)
The problem with the Costco card is you still need to pay for a Costco membership. You may be better off getting a rewards card and paying an annual fee.
Immo406 ยท 1 points ยท Posted at 08:57:28 on March 22, 2018 ยท (Permalink)
I actually have no clue what my APR is, never have.
Cainga ยท 2 points ยท Posted at 21:33:08 on March 22, 2018 ยท (Permalink)
You can use 0% apr as a free Loan during that period. If you have another loan you can effectively put everything on the card and use all your funds to knock off the higher interest loan. You would need to come up with the money to pay off the card before the 0% expires.
Seriously, I have a great card and the apr is high but I've never paid it and never will. Credit cards are meant to be paid off each month not to extend credit for a loan
Depends on your background. We have a rapidly growing cyber security organization. We have a great college intern program. Locations in Illinois, Texas, Arizona, Ohio, Delaware, Utah, UK, China... but again, we very strongly embrace work from home. My team maybe comes in all together once per week. Other than that, they are snug as a bug in a run, in their homes. Or at a Starbucks. Or a McDonalds. It makes no difference to me where they are.
You have an APR, but interest doesn't accrue if you pay it off by the due date on your statement. So yeah, I don't know or care about my APRs since I pay my cards off each month.
zixr ยท 3 points ยท Posted at 23:40:12 on March 21, 2018 ยท (Permalink)
Same here. I could have 100% APR on any of my cards and I would never know it because I only spend what I have in my bank. This is how I keep my credit scores active and my credit in check. It's also how I went from 520 to 800 average credit score in a couple of years.
It amazes me to think people put a bunch of money on credit cards knowing they can't pay it off. Better yet, knowing there will be a gang of interest because of it. Happy cake day btw
I mean, I have a balance on one of my cards because I get 0% for the first year. Needed to buy another phone before the payment plan was done on my current one, so I put the remaining balance on the card. I got my phone and still keep my money.
Why shouldn't I use a free loan to stretch out payments if I can?
Better yet, knowing there will be a gang of interest because of it
This is the key part of his comment. The second you pay a penny of interest you are losing. If you have 0% then by all means, just don't be late on payments and have your credit score suffer.
I've had people ask me some interesting questions. "If I pay more than the minimum on my credit card, will my credit score go up?" I cringed so hard. Yes, if they stopped putting more on the card than they're paying off. Not to mention how much they're gaining in interest. A lot of my previous coworkers lived well beyond their means and had that attitude with credit cards.
Yes. Also, just to be safe and make it less complicated pay any prior purchases you had in that card before taking advantage of the zero percent over twelve months.
Yes this is a good idea to do regularly, on every card. They will often offer you a temporary deal like they gave you, or if you say you're not interested, they may offer a permanent decrease. I went from 19% to 15% last time I asked. Also if you find yourself needing some quick cash, if you have a card with no debt, ask if they have any deals if you transfer your debt over. I have a discover card that I keep open specifically for this reason. I never charge anything to it, and occaisionally I will ask if they will offer me a deal to transfer my debt. I've gotten a deal of 0% APR for 12 or 18 months on more than one occaision, with a one time fee of 3% of the total transfer, and then I will set up automatic payments to pay enough so that it pays off by the last month of my deal. It amounts to a several thousand dollar loan for a low one time payment.
You can also do something like this before making a big purchase. For instance, I bought my dishwasher on that same card for 0% APR for 12 months.
Just got my APR cut in half for a month. Not as cool as you but this actually is going to help a ton as im only a few dollars from getting rid of my carryover.
I tried this about a year ago and got turned down. Tried again a few months ago and it worked. Both times via chat. I have Chase and Discover credit cards. I like Discover because they work with you more and seems easier to talk/chat if you have a problem. Chase seems more strict when it comes to increases and APR rates, but they have good service as well as giving automatic increases if you have good history with them.
[deleted] ยท 4 points ยท Posted at 00:01:53 on March 22, 2018 ยท (Permalink)
Shit, I called mine after years and they raised my limit by $6K and gave me 0% for 6 months.
I was having some issues recently and called them and they gave me 0% again for another 6 months so I bought a bunch of shit for my car. Lol
I have been asking my credit union for years to lower it and get nothing. I feel like I am drowning, I have like 24k in credit card debt and no idea how the hell to get out. With child support tact on top of it all I can't get anywhere. I can't afford to visit my son and can't even make any progress on my debt. its so fucking depressing
To add to this, those of us who carry a balance but are trying to get rid of that balance, discover also has a program that they will match 5% of your payment if you pay more than your minimum payment. Can't recall what it's called but when I called about the apr, the guy I was talking to suggested that.
Wow. I just got off the phone with Citi. They wouldn't budge. Citi Costco card for as long as they took over when Costco switched from Amex and Citi would not budge. I have just under 10K on my balance, Never missed a single payment.
Meanwhile I called Barclay two weeks ago for my JetBlue card the month my 0% expired and right away they dropped the standard 16.5% to 12.5%.
Now I feel like opening a new account somewhere and revenge-transferring the hell away from Citi.
I called my insurance to see what they could do for me after never having an accident or tickets since I started driving. I'm 28 now, they updated my address and because I moved two blocks closer to the city my 6m plan went up $200. Not all calls don't hurt.
It's possible that your insurance could reduce or deny a claim (particularly for something that occurs at home, such as theft) if they don't have your correct address.
I have a Discover It with a fairly high balance at the moment, and I'm approaching the end of my 0% APR period. If I ask for an extension and threaten to do a balance transfer, are they likely to do it? I've never missed a payment and my payments are always well over the minimum.
And my American Express just sent me a letter in the mail saying my rates have gone from 11.99% to 16.99% even though Iโve paid every bill on time for over two years... Apparently the Prime rate has gone up. :/
If I read it correctly, the Federal Reserve raised interest rates today, guess they feel the economy is doing better. They may decide to raise it again in a few months.
I did this with Capital One and they said the best they could do was reduce it from 24% to 18% for 3 months, then it would revert back to normal. I even politely threatened to close my account. Never missed a payment or carried a balance.
I asked my credit card company to lower my APR, expecting them to, since I was going to carry a bit more of a balance for 2 or three months due to cash flow concerns and had never missed a payment. They said they couldn't.
Then, after uselessly asking to speak to a manager, I told the person on the phone what I was planning to do, and they didn't seem to care, and so I did it:
In a week or so, I got a new credit card with a much lower APR and zero percent on balances transferred, and transferred the (temporary) balance from them to the new card.
I may or may not cancel (it's not a fee charging card), I may just let them continue to spend money sending me junk, and never use it again except in an emergency.
I used to do this every 6 months and set calendar reminders. Kept doing it until I got to the point where they said it was the lowest they could go, and I couldn't find any other cards with a better rate to threaten to go to. That was a few years ago, might have to get back to it.
DSJ13 ยท 2 points ยท Posted at 21:07:01 on March 21, 2018 ยท (Permalink)
I did that with discover last year. I carried a 10k balance for the year and paid it off at the end. Free money.
[deleted] ยท 2 points ยท Posted at 21:31:51 on March 21, 2018 ยท (Permalink)
That's awesome news! This is my 6th month w/ the Discover Cash Back Card (Secured). After i get my monthly statement I'll be calling and seeing if they can add my deposit to my credit ammount. I think I'll be staying w/ the secured card because it raises my credit the same ammount as a unsecured credit card and i already have all the perks of the card.
[deleted] ยท 2 points ยท Posted at 21:32:06 on March 21, 2018 ยท (Permalink)
I tried it and Citibank didn't even budge but said I could check back periodically to try and get an offer. I just opened a Chase card to transfer the balance so this won't even be an issue soon. Good to know though.
This. Iโm gonna try when I get off work. Planning on making a big purchase soon so if I can get them to reduce it or cut it all out Iโd be stoked! If not Iโll just buy it and transfer to a chase credit card that has 0% charge for transferring over
Tried this with capital one and they dropped it from prime+14% to prime +11% for 7 months.. definitely not 0% but Iโve never carried a balance so I guess I canโt complain ยฏ_(ใ)_/ยฏ
Just so everyone is clear, the 0% APR is for all purchases going forward. If you have a balance on your card, you are paying an APR on that until that balance is paid off. I was offered either 17.99 or 18.99 on my previous purchases but 0% going forward. Itโs still a good deal, but just make sure you pay off that previous balance.
Question for those with more experience here: is a larger credit line better or lower APR? I always pay in full before the due date as to not collect interest, and typically never use my Discover outside of gas or groceries unless I explicitly have money to โspendโ. My only thought on a higher line of credit is a lower usage on my credit report, but I can just pay more attention and pay as I go. But lower APR, gives me a little more of a cushion in an very worst case.
"never", but there would be no point, correct.
I lost a job and maxed a card pretty quickly doing damage control. Being in a 0% promotion because I was bored one day would have saved me a lot digging back out. I'm fine now and don't generally carry a balance either, but I'm going to call my carrier tomorrow and inquire.
I actually did this back in November last year. I just called and told them that I was considering closing my account and transferring my balance for a lower APR on a different card. They offered to lower it to 18% or 0% for the next 12 months. I was planning an expensive trip for January so I took the 0%.
It should be noted that this is just on FUTURE purchases (at least it was for me). If you have a balance on the card already it wonโt affect the interest rate on your current balance - that will stay the same.
I was planning a vacation / engagement so I was going to carry a balance for a few months, so I called chase and asked if I could get my 14% APR lowered.. I've never carried a balance and my credit score is over 800. They said lol that's as low as it goes.
I moved everything to a credit union the next week.
I asked them when I was going on maturity leave of they did a deferment
They gave me three months no payment and a few weeks later they sent me a check In the mail for $150 for just because!
Iโve tried asking Cap One this 5 times now - been with them for 8+ years. 0 balance - high interest rate. Not willing to budge at all... They tell me to close the acct and open a new one to get a better rate... uh no thanks.
Speaking of Discover, I was about to travel and the online systems wouldn't let me put a travel notification on my cards so I had to call. Was on the phone with Visa for 48 minutes, Discover for 2.5.
This was one of my first pieces of advice when coming to this sub. I had three lines. One lowered a few points, the others didn't.
More advice used to tackle the others but asking (especially if you pay on time and over minimum) can pay off.
trikats ยท 2 points ยท Posted at 05:19:21 on March 22, 2018 ยท (Permalink)
Last month Discovered refunded the CC late payment fee and interest when my bank screwed up my checking account funding.
btcftw1 ยท 2 points ยท Posted at 06:14:04 on March 22, 2018 ยท (Permalink)
I just logged on and was greeted with this messge. "Thank you for using Discover Card. Unfortunately, none of our representatives are available at this time due to high traffic levels." Lmao!
I've got discover to sign me up for that new member cash back bonus, when I wasn't a new member
[deleted] ยท 2 points ยท Posted at 14:12:46 on March 22, 2018 ยท (Permalink)
This will get buried but Discover will do this every time you call to ask about this. The thing you are losing is your APR will never slowly work its way down. For me, I don't really mind because I pay the bill off every month and having the safety net of 0% interest in case of a huge emergency (think medical that clears out your liquid savings), I have something to get by on without being scared of interest destroying me.
So I used online chat with amex to see if they'd do something similar, I've been with them for around ten years and used to have a 9.99% interest rate but they've crept it up to around 15%. They offered to lower it 0.5% to 14.5% basically.
So instead I asked do they have a card I could do a 0% balance transfer to and get 0% for x amount of months, and they have one I could get 15 months at 0% interest, which I'm hoping is enough time for me to pay the credit card down finally. I've always had a decent sized balance on it and have trouble paying it down. What do you guys think about balance transfers?
This is a trap people realize that right? If you plan on paying down the card then this is a GREAT IDEA. If you plan on adding more debt this is absolutely horrible idea.
pez78guy ยท 10 points ยท Posted at 21:48:35 on March 21, 2018 ยท (Permalink)
Absolutely. These promotional rates can be very nefarious.
They even lure people in with 18 month 0% apr for balance transfers. To make the pot sweeter, they offer a 5% cash back with a cash back match. This encourages you to swipe the card even though you intended to use it for the balance transfer only.
I transferred my balance, paid it off well in time and even managed to get my balance transfer fee back in the form of cash back. Now, I pay off my balance in full every month.
I asked discover to provide me with a provisional credit because they couldn't locate my 50k deposit into my savings after a week. They said no but theyll keep looking. Filed a complaint for a reg d violation with the CFPB and had my money within two hours.
There really is no reason to ask for it if you don't. A lower APR doesn't affect your credit score. You're better off asking for a credit limit increase.
I had 0% APR on Discover for 8 years straight until I realized their dispute resolution process is horrible, and I cancelled my card. Good cashback, friendly customer service, but if you ever have to dispute something, good luck. Just keep asking them to extend the promo when it expires.
[deleted] ยท 10 points ยท Posted at 19:21:05 on March 21, 2018 ยท (Permalink)
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drybull ยท 2 points ยท Posted at 20:29:07 on March 21, 2018 ยท (Permalink)
I also had to use a dispute with them, it was handled well enough to my liking and I wasn't responsible for the charge while they investigated. I had a similar experience with US Bank though...
I didn't have an issue with them until right before I closed the account, roughly a year ago. Their mishandling of the dispute process cost me $450, and I cancelled them immediately. My case went all the way up to the Executive Office of Customer Advocacy, and the entire process was a mess.
drybull ยท 2 points ยท Posted at 20:29:44 on March 21, 2018 ยท (Permalink)
Would you be kind enough to state the year you had this issue with Discover?
It's useless to have a 0% APR if you're not carrying a balance. And you shouldn't carry a balance. So the APR shouldn't matter to anyone who's using credit cards responsibly.
DSJ13 ยท 0 points ยท Posted at 03:23:53 on March 22, 2018 ยท (Permalink)
I've never had a card with anything lower then in the low 20 percentage area. Aside from intro aprs. Granted most people consider my credit to be relatively new still (about 2 years of history and I only started getting credit thanks to this sub) and I have a low income so they aren't as interested in me.
Edit: Have yet to pay any of them any interest. With APRs like mine I told myself if I ever pay a dime in interest without a very good reason then I'll cut up that card.
I just tried it too and it worked. Just asked on their online chat and they offered 0% for 12 months.
[deleted] ยท 1 points ยท Posted at 20:54:52 on March 21, 2018 ยท (Permalink)
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Mrme487 ยท 1 points ยท Posted at 01:51:51 on March 22, 2018 ยท (Permalink)
Me too. All I can say is that I don't think this is an ad. Here is why:
It is from an established account with at least some prior history in this sub.
There is nothing unique/special about this to Discover - many credit card companies do this.
Discover tends to be a popular choice for many members of this sub.
It isn't clear if this would even make Discover money or not. In the pro camp - potentially more customers. In the con camp - less interest revenue.
Anyway, not sure if getting a response in green font makes you more or less suspicious of the thread - all I can say is that I detest any and all forms of "content marketing" and "native advertising". I'm sure some of the "best" types sneak by, but you have my word that I will never intentionally let that happen here. Unfortunately, at some point, we can only moderate based on what is verifiable.
Anicha1 ยท 1 points ยท Posted at 21:15:55 on March 21, 2018 ยท (Permalink)*
Good to know. Do you call them or can you ask them over the internet?
Update: I did what you said and they offered to lower mine by less than 1%. I declined the offer. I never use that card anyways.
thank you! Awesome. I was getting some interest on my Chase Visa card and now I'll use the Discover. I've had it for a couple years but don't use it much.
I was able to score 0% for 12 months :) Awesome
3-DMan ยท 1 points ยท Posted at 21:16:35 on March 21, 2018 ยท (Permalink)
Good advice, even if you never plan to use it. You never know when your life will go to shit and you need a year of something expensive with no interest.
[deleted] ยท 1 points ยท Posted at 21:31:50 on March 21, 2018 ยท (Permalink)
Does carrying a balance with 0% APR still negatively impact your credit?
It can. Your ratio of balance to credit limit will still affect your credit score. If you have a maxed out credit card with 0% APR it still looks bad for those who are looking to give you more credit.
Do you think they would do this if I have a current balance or should I pay it and then ask? I always pay the full amount either way but I'm just not sure if it would be better to wait till a $0 balance or just ask now.
farlack ยท 1 points ยท Posted at 21:33:56 on March 21, 2018 ยท (Permalink)
They did the same for me! And I asked, like, 3 months after the initial 0% for 12 months I had for opening my account. I've been a customer for years and have no complaints.
As someone who works in the credit card industry (merchant side) I strongly urge all business owners to contact their merchant provider and see if they can see about a rate reduction. While some merchants do have stellar pricing, some clients will have a lot of room for reduction and can achieve a significant savings with just a phone call.
I had this done my first three years due to a Slickdeals . I loved it. Now they took out most benefits so idk how much I'll use it
Lunasi ยท 1 points ยท Posted at 23:01:07 on March 21, 2018 ยท (Permalink)
As someone who works in the social media department of a large company I can tell you we're always more responsive to online messages because it's public. People complain to every friend online when they don't get their way
Woot just called capital one and got my apr lowered by 6% for 7 months!
lvav68 ยท 1 points ยท Posted at 23:06:27 on March 21, 2018 ยท (Permalink)
I just tried with capital one, I have Quicksilver, it was a no go on any changes till May ( every 6 months)
But I can't complain. I never carry a balance, and they help build up my credit score! I do have 3 other cards I can call and see what I get!
char900 ยท 1 points ยท Posted at 23:30:52 on March 21, 2018 ยท (Permalink)
Not sure if this has been asked, but if you have a running balance after those 12 months will they charge for interest then?
For example, some store cards have promotions for "0% interest for 6 months!" But it's actually just deferred interest and they will charge you the full interest if the balance isn't paid in full in those 6 months.
Sorry, I don't work for them. I only work in the industry. Normally I know it's a soft pull for APR reductions but they can request a hard pull if they notice discrepancies or if you request one.
I just got in touch with them and asked myself, no questions or arguments, and got 2 different offers. Went with the 0% for 12 months as well. Thanks for the tip!
If only theyโd be so kind in their student loan department.
[deleted] ยท 1 points ยท Posted at 00:05:15 on March 22, 2018 ยท (Permalink)
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Mrme487 ยท 1 points ยท Posted at 01:32:11 on March 22, 2018 ยท (Permalink)
My gut says no. But if you have any actual evidence, please send the mod team a message as we take violations of the rule against advertising very seriously.
Bank of America has 15 month 0% balance transfers too
aces613 ยท 1 points ยท Posted at 00:12:52 on March 22, 2018 ยท (Permalink)
Donโt ask when you are revolving heavily. They wonโt do it, they already gotcha. Ask when you are paying it off each month or not using it. A permanent decrease is preferable over promo but it never hurts. Also ask for periodic line increases in the same way (not more than once every 6 months).
I did this back in August. They have a really great company to me. And they said once the 12 months are up to call back ask about APR adjustments and or other promos.
Just tried this with AmEx - didn't get 0 but dropped to a third of my current APR.
Shoutout to OP
harmiie ยท 1 points ยท Posted at 00:26:32 on March 22, 2018 ยท (Permalink)
Just used the chat option on the app. They were way slower to answer than usual, but I was offered a choice of lowering my APR from 21% to 19%, or 0% for 12 months
I took the 0%, since I try to pay off my statements in full anyways. :')
nah man. I've done this with this Discover and other cards for YEARS. I didn't realize this was some insider secret. Thought everyone knew you could always ask. Credit card act of 2009 incentives these companies to occasionally check to see if you're eligible for a lower rate.
Have you?... For example...call up your credit card and politely ask to remove the year fee? I just got Amex with a fee of $195, this inspires me to ask what other things can i finagle at.
At chase they won't look but Discover they always do!
Source: worked at both places. Chase you can't even tell if something can be done as an employee. :(
If I have a fairly high balance on my cards (which Iโm working towards paying off), are card companies less likely to say yes if I ask for a lower APR?
I guess it makes sense when other credit cards will take over your debt for the same rate. The current company likely wants to keep your business and hope you go two years into debt. Kinda fucked but whatever.
mxim7 ยท 1 points ยท Posted at 00:52:04 on March 22, 2018 ยท (Permalink)
I recently went into an unplanned overdraft and got charged ยฃ50 in fees. I rang the bank and asked if they could refund me and they did, just like that. Sometimes you are pleasantly surprised.
I always make the same joke to people ringing me up or customer service reps: โThey told me you were the boss, that theyโre scared of you, and Iโd have to ask you for a discount.โ Works ~10% of the time.
[deleted] ยท 1 points ยท Posted at 00:59:26 on March 22, 2018 ยท (Permalink)
My friendโs friend said that he would call (I forget how often) and would tell them he wanted to cancel his credit account. He said that the credit card company gave him one of two choices: either they would raise his available credit or lower his APR just to keep him as a customer.
I never did it but it seems like something worth trying, especially if youโre thinking of canceling due to high rates.
So I was only being double charged for my package + the security junk for a few weeks. I went to pay my monthly cable bill and saw over $500 of charges. When they finally sorted everything out I must have gotten locked into the 2 year โcontractโ. I use quotes because I didnโt know it was a thing until I wanted to change providers a year later
[deleted] ยท 1 points ยท Posted at 01:11:06 on March 22, 2018 ยท (Permalink)
I used the online chat tool and got the same promo OP did!
Iโve been really happy with Discover. Easy to use, good service. 1% cash back + 5% rotating categories + dollar for dollar cash back match at end of the first year. I donโt feel like that cash back match ever gets talked about much, but it really adds up.
[deleted] ยท 1 points ยท Posted at 01:13:47 on March 22, 2018 ยท (Permalink)
If I have 0% APR will it still hurt my
credit score to carry over balances?
I'm on mobile and thus can't search the thread, can anyone tell me how Chase is with this type of inquiry? I've got two cards with then with shitty rates, I've had them for a long time and my credit is great. My wife has a different chase card that is like 8% lower than mine and her credit history is at least 5 years younger than mine.
although its possible they check your credit when this happens. I've been turned down after asking for a credit increase which i think brought my score down slightly. Also be careful doing this if you're in the middle of applying for a mortgage.
Or if you don't normally leave a balance on your cards, wait to do this before you make a big purchase where you might want to. AMEX often offers me 0% for 12months, but I always turn it down because I never have a balance on the card. I want to make sure what id I ever do something completely ridiculous, like buy a car outright with my card, I'm pretty much guaranteed to be able to get the deal right before I do. $25k limit and 0% makes something like a massive emergency purchase really easy to deal with.
Oof. For reference, I fell behind and hit my limit, asked them the same question and they put me on a program that locked my card for 6 months and lowered my APR to 9.99%. Don't get me wrong, I'm glad to have the lower rate! 0% would have been better, of course.
Can you get a bunch of cash, invest in bond funds and then pay it back a year later while keeping the interest?
-yocto- ยท 1 points ยท Posted at 02:37:03 on March 22, 2018 ยท (Permalink)*
A few years ago I tried something similar, and the analyst on the phone decided that my circumstances warranted a raising of my APR (or possibly a decrease in the amount I could borrow; my memory is a little fuzzy). I think I stopped using that card shortly after that.
Worked for me, nice and easy - which is pretty awesome. I'm actually moving in a few months, so this will help out a lot to be able to borrow money short-term interest-free.
Be careful of any fine print involved with special APRs like 0%... often they'll have stipulations that you must make at least minimum payments and pay off the balance by the end of the term or the interest is retroactively applied back. Of course minimum payment will not pay off the value in a year, so you need to pay 1/12th the initial balance or more to make sure you get it down in time.
It's always good to call your cable TV provider, your cell phone company, your internet service, all of them and others periodically to get better deals. If you are calling your credit card company to get lower interest rates that is good but that means you are paying interest on your CC purchases which means you are spending more than you can afford. So you are lessening the damage but you are signing up for damage. Rethink.
I open a new discover card every year just for the cash back double bonus. Ive never paid a dime in interest and I've pocketed maybe $2500 in cash back.
zman_46 ยท 1 points ยท Posted at 03:43:56 on March 22, 2018 ยท (Permalink)
Doesnโt the double bonus only work for new customers?
Just tried this with AMEX. I do not carry a balance month to month, so I was unaware that I was already under a promotional 9.99% APR until December. They would not lower because of that. I am sure people who are not under promotional APR's will have better luck.
I donโt carry a balance so it really didnโt matter. I figured I would decline and try again in a few months. My assumption would be that if I accept a promotional rate now my chances of getting a better one in the future would be worse. I could be wrong, but Iโll risk 2% to find out.
I had years of perfect payment history with Wells F and tried this. They told me I could stuff it in the politest way in which they'd been trained. I warned them my only alternative was to file bankruptcy, and they said yes, we know. I did so shortly after and they had to eat the whole balance.
zman_46 ยท 1 points ยท Posted at 04:40:37 on March 22, 2018 ยท (Permalink)
Ah I figured they kept track of who has previously had accounts, so you wouldnโt be able to do that. Do you have to use all the cash back before you cancel?
My wife and I switched banks because of our CC rate of 13.99. we both have credit scores of over 800 and now are at 11.99.. I need to make a phone call.
ikean ยท 1 points ยท Posted at 04:55:43 on March 22, 2018 ยท (Permalink)
You'll still pay the original high interest on anything you had occurred debt for before they offered you the deal. Additionally, any balance remaining from purchases within this 12 month period will be subject to high interest if not paid in full after the period expires. Really, you're not getting much (and they're not giving much) but incentive to accrue interest again. It's more of a good deal for them, and better (for them) than it sounds.
It should be (cynically) pointed out that the reason they would lower the APR for someone who doesn't carry a balance, is to encourage that person to become accustomed to carrying a balance (since it's temporarily 'free'), and then hope they are unable to resume their discipline after the temporary APR period is over...
I tried this about a month ago with Chase and they told me they can't change APR since it's not set by them. Obviously they lied or I didn't ask the right question.
I do this with DirecTV about once every 18 months. I usually get some sort of discount for some period of time. Every penny counts and it is usually more than simply pennies.
@OP How did the message (worded) or call go? I'm in a similar situation where if I had some breathing room with them, I could feasibly have my card paid off within the year. I've been in great standing with Discover for close to a decade now.
chuiy ยท 1 points ยท Posted at 11:09:35 on March 22, 2018 ยท (Permalink)
Remember to get drunk and call your ISP. They gave me free internet for three months.
Late to the party, but asked for a reduced rate via chat as well. They gave me the option of 0% for 12 months or to reduce my rate by 4%. I took the 4% reduction for the long term benefits. Thanks for the tip! Gonna try it with the rest of my cards
I tried with Chase and they indicated there was nothing they could do. Maybe a stingy rep on the phone, has anyone else had any luck with chase?
MrPurse ยท 1 points ยท Posted at 13:29:21 on March 22, 2018 ยท (Permalink)
I asked capital one for the 0% 12 month apr rate through multiple channels because I really have enjoyed them, but they said no so I did a balance transfer to chase (best decision ever)....and then capital sent me a flyer in the mail for 0%. Worst marketing ever.
Llohr ยท 1 points ยท Posted at 13:50:48 on March 22, 2018 ยท (Permalink)
Discover is a lot better about increasing credit lines than my other cards.
Something similar happened to me as well, except I took my balance a little too high and asked for help, they gave me 14 points lower on the rate if I switched to auto pay and stopped using the card, which saves me quite a few hundred towards principle. Every bit helps!
I asked them through chat and they offered to drop my interest from 25% to 19% OR 0% for a year. I took the 0%, thanks so much OP! By the time I pay off my remaining balance you'll have saved me $200+.
I have a southwest airlines card that I've decided to get rid of because of the annual fee. The past two years when I called to cancel they credited my account the annual fee.
mohajaf ยท 1 points ยท Posted at 15:44:16 on March 22, 2018 ยท (Permalink)
People please make it your first priority to payoff your balance in every month. Donโt put debt on your CC that you canโt afford. No matter what the rate.
Just did the same thing myself.. was putting a portion of an engagement ring on a card (I know, big no-no especially in this sub) and I obviously wanted 0% APR.. they lowered my current rate to 0 as well.
discover offered me a new standard rate of 17.49% down from 25.24% or a promo rate of 0% for 12 months. i took the new standard since i wasn't planning on making any large purchases soon.
Discover is great with this, I've asked a few times for 0% balance transfer or 0% on purchases and they've done it. I used the 0% balance transfer to pay off culinary school loans and to pay off other cards that had high APR's.
I tried asking for 0% with another card, probably citi and they just said they don't do it
I did this after seeing this post and I got the same. Thanks!
btcftw1 ยท 1 points ยท Posted at 18:38:21 on March 22, 2018 ยท (Permalink)
I have no idea why iโm reading these comments, i have no clue what APR is, i donโt have a credit card, but i know for damn sure now iโm gonna save this info somewhere to maybe use it someday
Krippy ยท 1 points ยท Posted at 19:08:14 on March 22, 2018 ยท (Permalink)
This just worked for me via chat.
I can offer a 0% promotional rate for purchases for 12 months. The rate would apply to future purchases. Any remaining balance after the rate expired would return to the standard purchase APR, 20.24% (variable).
Or
I can reduce your annual percentage rate (APR) on new purchases starting in two days from variable 20.24% to a variable 18.49%.
For what it's worth, this is all I said after exchanging pleasantries:
I was looking at my credit card interest rates, and I noticed my Discover is higher than the others. Is there any way you can help with that?
Hope this helps anyone else looking at new comments.
FanofK ยท 1 points ยท Posted at 21:32:55 on March 22, 2018 ยท (Permalink)
Yesterday chat was down... so I messaged them today asking for a lower interest rate. Came back said I have the lowest apr and they could only give me 12 months no interest :) i'm happy.
For me i pay this card off every month, mid-700s credit score
Discover always has that option available. I would recommend that somebody uses it when they're about to make a major purchase or any other thing that they might plan on carrying a balance on. There's no reason to do it if you're not carrying a balance because you don't pay interest if you pay it off within 30 days from the invoice date.
juloto ยท 1 points ยท Posted at 02:23:41 on March 23, 2018 ยท (Permalink)
This is proof that bull market still exists.
NJ-JRS ยท 1 points ยท Posted at 19:43:23 on March 23, 2018 ยท (Permalink)
Woo, confirmed it just work through Live Chat. They gave me option of 0% for 12 months or lowering 2% overall permanently; went with the 0% since I don't carry a balance normally anyway but have a few big furniture purchases coming up.
Ort895 ยท 1 points ยท Posted at 22:49:06 on March 27, 2018 ยท (Permalink)
Tried this with BOA and they told me to piss off lol. But I tried!
ennsho ยท 1 points ยท Posted at 14:34:16 on March 28, 2018 ยท (Permalink)
This is old but thanks for posting. I just chatted and they offered to take my 13% to 12%. I asked about a 0% for a year offer and she said yes, that is available too. She ended up giving me the 0% promo. Woop.
๐๏ธ Stone-J ยท 1 points ยท Posted at 14:56:50 on March 28, 2018 ยท (Permalink)
Glad I could help :)
VTFC ยท 1 points ยท Posted at 19:13:13 on March 28, 2018 ยท (Permalink)
Nice, just got it :)
They tried to offer 17% first, but I kept asking and they gave me the 0%.
Feels good.
๐๏ธ Stone-J ยท 1 points ยท Posted at 20:10:41 on March 28, 2018 ยท (Permalink)
Awesome! Good to know
[deleted] ยท 1 points ยท Posted at 01:30:23 on April 18, 2018 ยท (Permalink)
I just did this because of reading this a few weeks ago! Thank you!!
Just wanted to say that this worked for me as well. Thank you to the kind and generous soul who posted this and basically gifted me a free, no-interest loan for a year. They may try to offer you a lower interest rate at first, but if you persist, then they'll give you the 0% APR for 12 months. <3
๐๏ธ Stone-J ยท 2 points ยท Posted at 16:36:50 on April 25, 2018 ยท (Permalink)
You're welcome <3
XelaSiM ยท 1 points ยท Posted at 22:53:59 on April 26, 2018 ยท (Permalink)
I've done this consistently for the last three years without any pushback. Love discover.
By the way just so people are clear, this will only apply to purchases you make AFTER they lower your rate, IIRC. If you have a balance of say $1000, and they lower your interest, the original APR will still apply to anything you bought prior to the decrease, correct?
๐๏ธ Stone-J ยท 1 points ยท Posted at 22:49:04 on May 17, 2018 ยท (Permalink)
Damn it, they actually lowered my rate from 19% to 14%. I wanted 0% for 12 months because I pay off the card every month anyway so 14% and 19% make no difference to me. On the other hand, a 0% APR for 12 months would've meant I could've had an interest free loan for the year :-(
That's exactly my point. I wanted 0% for 12 months so I could have a 0% loan by letting the balance go up. Going from 19% to 14% does nothing for me because I'm not paying interest to the bank
I called Wells Fargo every other day for two weeks to ask this, never happened. Switched credit cards
gdq0 ยท 1 points ยท Posted at 22:09:10 on March 21, 2018 ยท (Permalink)
Leave it open and pay your cell phone bill on it for the insurance.
I got a WF card with $2500. They increased it to $3400 and used that as an excuse to deny me more credit. After I stopped using it for most purchases I got increased to $5000 about 2 years after opening so they could charge businesses the Visa Signature fees rather than the Platinum fees.
Pro tip, APR doesn't matter when you pay off your balance each month. Get yourself a good rewards card, pay it off each month, and enjoy your credit card company paying you each month
[deleted] ยท 1 points ยท Posted at 23:45:58 on March 21, 2018 ยท (Permalink)*
You could run a balance during the 0% promo period and instead stick that money in some kind of no/low risk investment (high interest savings account, CD, etc). This is really only worth it if your credit limit and spending are high enough. I'm renovating my kitchen right now so being able to run a $15k balance on my card with no interest pays off.
[deleted] ยท 1 points ยท Posted at 00:30:45 on March 22, 2018 ยท (Permalink)*
If you're not getting super high end appliances you could buy them at Home Depot. Or materials/lumber. They will match most places. But yeah don't hire them to install your cabinets or anything.
kyomair ยท 1 points ยท Posted at 23:47:16 on March 21, 2018 ยท (Permalink)
Anyone have any luck trying this with Bank of America? Doesn't look like they have online chat support, and they rejected me over the phone without a second thought.
klef25 ยท 1 points ยท Posted at 00:39:31 on March 22, 2018 ยท (Permalink)
Has anyone here tried www.billshark.com? Supposedly, they do this for you and then charge you 40% of what they saved. I'm a little leary of giving billing info over to a service, but if they can make contact for me on my bills and I don't have to spend my own time doing it, it might be worthwhile.
You guys are doing it wrong if you have a credit card if you are carrying a balance long enough to get charged APR percentage. If you can't have your balance paid off every month you probably shouldn't have one
This is actually a fun way to soft-scam you. They give you the 0% APR to give you incentive to carry a balance. Then, you get used to carrying a balance, the 0% wears off, and BOOM baby, you're paying them.
that's only true if you can't do basic math and you have no self control. in which case you'll be easily soft scammed for most of your life tbh
[deleted] ยท 1 points ยท Posted at 06:25:38 on March 22, 2018 ยท (Permalink)
[removed]
[deleted] ยท 0 points ยท Posted at 01:03:42 on March 22, 2018 ยท (Permalink)
Well I asked the same thing to Visa and now my interest skyrocketed. This is 100% true not made up total legit #truthbomb 420 360 no scope level if truth. it'snottrue
I tried a few months back when I knew I wasnโt going to be able to pay off my balance due to just buying a home. Prior I held a very low balance month to month.
When I actually needed the help Discover was quick to pretty much tell me nope and not offer a single thing. Itโs when they need you that they seem willing to help.
[deleted] ยท 0 points ยท Posted at 15:10:26 on March 22, 2018 ยท (Permalink)
I would suggest that credit cards are a waste of money, in general.
What cost of credit? I've always paid in full each month. I've never been charged interest or any late fee. I'll be earning $500 in chase rewards from my new sapphire card next month.
You are missing out on all that free money... Just treat your credit cards like a debit card and pay off your statement every month and reap the benefits. Much safer to use than your debit card too.
katch_22 ยท -1 points ยท Posted at 23:30:56 on March 21, 2018 ยท (Permalink)*
Sounds like a great way to get into credit card debt.
edit: i see the downvotes and the butthurt. seriously, these credit card companies are not your pals. they're lowering it so you spend your ass off and then get stuck with the higher APR in a year. if you can't pay for it in full, you can't afford it.
Exactly. There are plenty of situations where it's helpful.
When I moved out of state, that pretty much all went on my credit card... I would have absolutely loved to have had 0% interest at the time.
Anicha1 ยท 1 points ยท Posted at 21:16:10 on March 21, 2018 ยท (Permalink)
Exactly.
iphon4s ยท 1 points ยท Posted at 21:36:38 on March 21, 2018 ยท (Permalink)
Doesn't your college charge a extra fee for using your credit card to pay off your tuition? I know mine does which is the only reason I don't use my credit cards to pay my tuition.
This would depend on the institution. My institution does not allow credit card payments at all for undergraduate students, but it does for graduate students and there is no additional fee.
It does, they charge a ~2% fee. However, with a $10,000 bill that is only a $200 fee. Much better to pay 2% ($200) than paying 6%+ on a loan or 20%+ on a credit card.
Sometimes it's necessary to pay the fee when you need time to pay. In conclusion, the small fee is not much in terms of your overall invesement into your education.
I recently got the statement from our homeowners insurance annual renewal. It's the courtesy copy they also sent to the escrow account to be paid. I noticed the rate was about 250 bucks higher than last policy. Called and just asked why. Lady was real nice and says "well the class you were in had a 30% increase this year, but would you look at this, you are able to be in a much better class and surprise, your rate is now less than it was even two years ago"! Went from $850 to $515 with a phone call.
Many people just leave their homeowners on auto pilot since it is auto drafted from escrow. It pays to ask why.
It also makes me wonder, what am I paying my agent for? If all they are doing is passing along the increases, adding profit without doing anything on my behalf, and sitting back cashing checks...... how are they earning my money?
Not to burst your bubble, but I literally did the same thing like a month ago with Discover. Got the same offer. Said ok I have better offers on my desk, they fired back with that offer + a permanent APR decrease going forward, I think they shaved off 1.5%
I had a few things come up and was carrying about a $1300 balance. I called in and got the same 0% offer. What I think is cool is that the minimum payment amount goes to the lower interest balance, but any amount you pay OVER the minimum goes toward the highest interest balance. I was able to jocky my spending by paying every bill and groceries, etc, with the card and then made a few large-ish $300 to $500 payments on the card. This with the goal of turning over the whole balance with new spending and now I've got all my balance (down to $800 now) at 0% for the rest of the year. Now I don't have to stress so much about paying till it hurts, I can take four or five months and not have to pay interest.
I had a Discover card once when I was really young. I always had a balance on it, but relatively low. The APR was six percent. Then they offered me three percent if I transferred the balance of other cards. I had some school loans on a Chase card at a much higher APR so it was a no brainer. Six months later they increased my APR to 30%. I always paid on time and always higher than the minimum. I was shocked. I asked why and they said because they could. That was the explanation. The refused to lower it. I was forced to sign up with one of those companies that will pay your bill for you and lower the APR. They set me up on a five year plan. I will never own a cc again.
etasyde ยท -2 points ยท Posted at 02:11:46 on March 22, 2018 ยท (Permalink)
Are you sure they didn't close your old account and do a balance transfer to a new card? Because they're incentivised to do just that - it shows up as a new sign up and they are compensated like a salesman.
This can hurt your credit as "age of account" is taken into consideration in many instances.
Saved comment
Mrme487 ยท 1 points ยท Posted at 01:26:24 on March 22, 2018 ยท (Permalink)
It looks like this post really took off over the past couple of hours. We welcome visitors who found this on r/all and/or r/popular.
If you are looking for more tips to help get your finances in order, I'd recommend consulting the wiki and/or our "Prime Directive" flowchart
If you are new to the sub, you should know that content here is more serious than in many other subs. You may wish to familiarize yourself with the rules prior to commenting.
chach_86 ยท 3640 points ยท Posted at 20:23:27 on March 21, 2018 ยท (Permalink)
Every once in a while my mom will get in a "mood" and call her CC, cable, cell phone, insurance, etc... provider and try to wrangle whatever deal she can get out of them. She's been pretty successful in the past.
NovaStubble ยท 1846 points ยท Posted at 21:35:29 on March 21, 2018 ยท (Permalink)*
I tell my cable company I will leave. But they know itโs a bluff, because they have a monopoly in my area. Fuck Cox Cable.
Edit: Cox is my internet provider. I donโt have cable TV. I cut that cord a long time ago.
plainxjane ยท 1118 points ยท Posted at 21:40:51 on March 21, 2018 ยท (Permalink)
I told my cable company to lower my bill or else I was leaving and they said โok byeโ :| ... silver lining: thatโs when I became a cord cutter and never looked back!
tamakyo7635 ยท 341 points ยท Posted at 21:50:35 on March 21, 2018 ยท (Permalink)
Just wish I could get "unlimitted" (or anything beyond 80gb/month) high speed internet without being locked into Comcast...
mestisnewfound ยท 252 points ยท Posted at 22:10:28 on March 21, 2018 ยท (Permalink)
I moved to a neighborhood that has unlimited gigabit fiber locked at 85 dollars for life. My God has it been so amazing. Cox used to crash once a week which would require a phone call to fix and after switching never had to call and the longest crash has been 15 seconds. Which has happened twice in almost a year.
thefragfest ยท 69 points ยท Posted at 23:17:02 on March 21, 2018 ยท (Permalink)
Which neighborhood is that?
[deleted] ยท 447 points ยท Posted at 00:05:53 on March 22, 2018 ยท (Permalink)
Prolly the same one with an HOA that makes you hide your garbage cans... There's always a trade-off
Journier ยท 144 points ยท Posted at 00:08:58 on March 22, 2018 ยท (Permalink)
Will say I am also in a HOA that wrote me up for leaving my garbage cans out all night after pickup. ( I was at work for 24 hours).
Can get Gigabit fiber for 70$ a month.
TheNautilusGoesRound ยท 24 points ยท Posted at 00:17:24 on March 22, 2018 ยท (Permalink)
Same thing happened to me...I get $70 fiber as well I would say it's worth it
Abandoned_karma ยท 1 points ยท Posted at 16:21:31 on March 22, 2018 ยท (Permalink)
Our gigabit isn't quite gigabit, it's "up to" and when I had it it was around 700 Mbps. It was also $175.
TheNautilusGoesRound ยท 1 points ยท Posted at 18:05:23 on March 22, 2018 ยท (Permalink)
I've heard of that happening to many people, but in both places that I've lived I've been lucky enough to get a consistent 980 mbits up/down
Abandoned_karma ยท 1 points ยท Posted at 18:08:20 on March 22, 2018 ยท (Permalink)
I live in Alaska. I told the cable company I was done and went with DSL for $80. 30 Mbps but no data cap. It's enough to stream 4k, which is enough for me.
SignDeLaTimes ยท 1 points ยท Posted at 16:25:32 on March 22, 2018 ยท (Permalink)
I lived in one of those. My neighbor was written up once for painting his mailbox a slightly darker off-white. Be friendly to your neighbors, cause it can get brutal.
TheNautilusGoesRound ยท 1 points ยท Posted at 18:16:34 on March 22, 2018 ยท (Permalink)
Reminds me of my neighbor that tried painting their garage and it look like they just smeared shit all over it... I didn't report them but I'm sure it won't be long before someone does. As long as you're not being my house value down or not allowing me to sleep, I dont give a shit what you do
uninsuredpidgeon ยท 3 points ยท Posted at 12:39:46 on March 22, 2018 ยท (Permalink)
How fast is giggidybit?
white_android ยท 4 points ยท Posted at 00:14:26 on March 22, 2018 ยท (Permalink)
But tell me is it worth it?
[deleted] ยท 8 points ยท Posted at 00:15:31 on March 22, 2018 ยท (Permalink)
Mmmmmmaybe, for internet like that? I definitely have a price.
caboosetp ยท 1 points ยท Posted at 00:23:24 on March 22, 2018 ยท (Permalink)
Is that price 70$ a month?
Journier ยท 20 points ยท Posted at 00:33:17 on March 22, 2018 ยท (Permalink)
To be honest, Its entirely not, and i highly regret buying in a HOA, its a terrible idea, I have to send in a letter to get approval from them for almost everything minus flowers and bushes. If i want to plant a tree i have to submit an approval letter. Paver bricks, Approval letter, New front door? Approval letter. Changing the color of my front door? Approval letter.
But I do have access to like top 10 schools in my state for elementary and high school from this subdivision, but i dont have kids but my house value has appreciated quite well since purchase. so when i get ready im gonna sell it and move back out to the country with shitty 50mbps internet. I had 56k internet till i was a man, I can handle it.
bgi123 ยท 4 points ยท Posted at 01:51:28 on March 22, 2018 ยท (Permalink)
I have an HOA also, but I just do whatever and they can complain to me later.
white_android ยท 2 points ยท Posted at 01:09:45 on March 22, 2018 ยท (Permalink)
It sounds like it definitely has it's trade offs, someone willing to deal with approval letters would probably love it just for the top 10 schools in the area.
Maybe you can find a way to get the best of both words in a smaller suburban town... I know of a few like me that are pretty great if you don't mind dealing with Time Warner/Spectrum.
mikemike44 ยท 1 points ยท Posted at 01:30:51 on March 22, 2018 ยท (Permalink)
Im sittin here in the mountain of jersey with 1MB/s. yay.
ImJustStartingShit ยท 1 points ยท Posted at 03:07:28 on March 22, 2018 ยท (Permalink)
I've always felt like HOAs should be fucking banned.
HugsForUpvotes ยท 2 points ยท Posted at 03:50:13 on March 22, 2018 ยท (Permalink)
I like living in an HOA. A house is most people's largest investment, and I like that my neighbor can't fill the yard with random dumpster sized bins of trash. I've seen houses lose 30% of their value because their neighbor does something crazy. I've never had an issue with the HOA. I'm sure bad ones exist, but I haven't had that experience.
RevGrimm ยท 31 points ยท Posted at 00:07:19 on March 22, 2018 ยท (Permalink)
Don't forget to erect that fence.
etotheipi_is_minus1 ยท 17 points ยท Posted at 00:59:05 on March 22, 2018 ยท (Permalink)
Damn, I was just in that thread.
gwadhwani ยท 1 points ยท Posted at 15:31:31 on March 22, 2018 ยท (Permalink)
Aren't we all a herd...
88cowboy ยท 6 points ยท Posted at 01:05:26 on March 22, 2018 ยท (Permalink)
But you can make the fence into a middle finger
lance713 ยท 8 points ยท Posted at 01:14:36 on March 22, 2018 ยท (Permalink)
I live in a rougher spot in town w/ no hoa and att recently installed fiber in my neighborhood.
Switched from spectrum to unlimited gigafiber for $70/mo.
[deleted] ยท 2 points ยท Posted at 01:21:04 on March 22, 2018 ยท (Permalink)
AT&T did? Where's that?
lance713 ยท 1 points ยท Posted at 01:50:56 on March 22, 2018 ยท (Permalink)
In a neighborhood east of Dallas.
[deleted] ยท 1 points ยท Posted at 02:34:40 on March 22, 2018 ยท (Permalink)
Gotcha, I work for AT&T. You catch any wind of them putting up 5g around there?
lance713 ยท 1 points ยท Posted at 02:56:16 on March 22, 2018 ยท (Permalink)
I didn't even hear they were working on 5g tbh. But HQ is here and if my memory serves me correct Dallas is usually in the first few waves of rollouts
[deleted] ยท 1 points ยท Posted at 03:29:52 on March 22, 2018 ยท (Permalink)
Yea it's one of the 5 cities they were talking about rolling it out to first
[deleted] ยท 1 points ยท Posted at 05:35:47 on March 22, 2018 ยท (Permalink)
What are the other cities? I live in San Antonio, Texas and itโs pretty big but for some reason doesnโt get as much attention as other cities in Texas
[deleted] ยท 1 points ยท Posted at 13:04:38 on March 22, 2018 ยท (Permalink)
Oh actually there's an alleged bigger list and I mispoke, they're looking at Houston and Austin.
crossrocker94 ยท 9 points ยท Posted at 00:08:35 on March 22, 2018 ยท (Permalink)
Meta
Business-is-Boomin ยท 2 points ยท Posted at 12:10:07 on March 22, 2018 ยท (Permalink)
You could always build a middle finger fence.
I_WAS_BORN_DEAD ยท 2 points ยท Posted at 14:35:55 on March 22, 2018 ยท (Permalink)
I spend too much time on here
[deleted] ยท 2 points ยท Posted at 00:26:38 on March 23, 2018 ยท (Permalink)
[deleted]
[deleted] ยท 1 points ยท Posted at 01:43:29 on March 23, 2018 ยท (Permalink)
I hope to be like you one day when I purchase a house!
ZOTTFFSSEN ยท 4 points ยท Posted at 00:14:05 on March 22, 2018 ยท (Permalink)
Best to live with a neighbor whose gut hangs out and drinks beer.
____DEADPOOL_______ ยท 2 points ยท Posted at 08:12:07 on March 22, 2018 ยท (Permalink)
I'll tuck and tape my nuts between my buttcheeks any time I'd be in the HOA area in exchange for fiber.
BukkakeKing69 ยท 1 points ยท Posted at 03:43:03 on March 22, 2018 ยท (Permalink)
Dude I get 200mpbs in my apartment complex for $60/mo. Hardly a tradeoff needed unless you live in bumblefuck, USA.
[deleted] ยท 1 points ยท Posted at 03:46:50 on March 22, 2018 ยท (Permalink)
Same actually, but c'mon... It's gigabyte!
inebriusmaximus ยท 1 points ยท Posted at 16:31:17 on March 22, 2018 ยท (Permalink)
Going Meta
thisremainsuntaken ยท 2 points ยท Posted at 06:13:24 on March 22, 2018 ยท (Permalink)
Rural Indiana - $70 fiber. No "for life" guarantee but research fiber companiesnear you and find their coverage areas.
Also the neighbors burn trash.
365wong ยท 1 points ยท Posted at 02:19:43 on March 22, 2018 ยท (Permalink)
I think Mr. Rogersโ neighborhood.
PutterPlace ยท 1 points ยท Posted at 03:53:30 on March 22, 2018 ยท (Permalink)
Mr. Rogers' neighborhood.
cosmictap ยท 2 points ยท Posted at 03:06:25 on March 22, 2018 ยท (Permalink)
"CenturyLink may change, cancel, or substitute offers and services, or vary them by service area, at its sole discretion without notice."
"To the extent allowed and effective under applicable law, CenturyLink may [...] (i) increase MRCs and/or NRCs, (ii) change the Service and/or this Agreement in a way that directly results in a material and adverse economic impact to you.."
"Material changes and increases to the monthly price of the Services shall be effective thirty (30) days after CenturyLink provides notice to Customer [..] CenturyLink will not provide notice of changes to promotional prices, offers, and applicable taxes, fees, or surcharges (unless required by law or regulation)."
[Sauce.]
dirtydela ยท 1 points ยท Posted at 23:02:20 on March 21, 2018 ยท (Permalink)
Kansas City area?
mestisnewfound ยท 1 points ยท Posted at 23:50:47 on March 21, 2018 ยท (Permalink)
Omaha, now have century link
ghostofyourneopet ยท 1 points ยท Posted at 01:52:27 on March 22, 2018 ยท (Permalink)
My condolences
Calgamer ยท 1 points ยท Posted at 11:42:48 on March 22, 2018 ยท (Permalink)
I canโt wait for this, I live in one of two or three small towns where a company by the name of Ting is setting up a fiber optic network. Theyโve said the price will be like $85 a month forever with no price increases or dumb little fees and taxes. They should have my neighborhood up and running by year end and Iโm so excited to call Comcast and tell em to screw off.
SlightlyFunnyGal ยท 1 points ยท Posted at 23:57:04 on March 21, 2018 ยท (Permalink)
Centurylink offers this all over the country! Not necessarily fiber, but the "Price for Life" plan.
Zvipr ยท 1 points ยท Posted at 00:09:15 on March 22, 2018 ยท (Permalink)
Got Century Link gigabit fiber here in Minneapolis at $80 a month about a month ago and am loving it. Price for life as well.
BruhGoSmokeATaco ยท 2 points ยท Posted at 14:31:52 on March 22, 2018 ยท (Permalink)
We had to pay $10 extra a month to get unlimited.. we didnโt even know we had a limit till we went over 3 times and charged us a fee
TheGuyAboveMeSucks ยท 5 points ยท Posted at 23:11:24 on March 21, 2018 ยท (Permalink)
I cut the cord for 2 years, Comcast didnโt care I was leaving. I have Unlimited with Sprint. Eventually Sprint started throttling the shit out of me, I blasted them on Reddit, Twitter, and FB daily. Nothing helped. I was being throttled even during non peak hours. Just got Comcast back at $30/month. When they decide to raise my rate, Iโll just cancel them again.
Redoubt9000 ยท 1 points ยท Posted at 02:38:26 on March 22, 2018 ยท (Permalink)
Hell I wish I could get locked into a limit if it meant having speeds higher than 1.5mb : / Only recently managed 45$ for life for 1.5, for years they've been charging us 70$+ for only 1.5 and a phone line that doesn't call out, except for 911. Only recently, it miraculously came to be that we didn't need to purchase a phone line, despite from the very beginning making it clear we had no need for one or later requesting to drop the capability/number...
People clammer on about cable monopolies, but wutbout DSL monops!!?
tamakyo7635 ยท 1 points ยท Posted at 15:06:58 on March 22, 2018 ยท (Permalink)
Where do you live? The middle of nowhere?
Rthrowaway420 ยท 1 points ยท Posted at 04:50:35 on March 22, 2018 ยท (Permalink)
Shit, here in suburban ohio we have no data caps on home internet and get gigabit internet.
[deleted] ยท 1 points ยท Posted at 10:03:10 on March 22, 2018 ยท (Permalink)
Wait... you have a data limit on your internet? :O
That's unheard of here, I mean I've never had or known anyone that has had a limit. With our phones we do but not broadband. (From the UK btw)
tamakyo7635 ยท 1 points ยท Posted at 15:05:14 on March 22, 2018 ยท (Permalink)
All satellite internet (here, at least) has data limits, and cable/fiber internet options often have "soft" limits in the fine print. I think in my area, Comcast says something like 400GB/month, and if you go over it too often they threaten to cut your service? I've toed the line, but never crossed over with my normal use, so I don't know exactly.
[deleted] ยท 1 points ยท Posted at 16:40:03 on March 22, 2018 ยท (Permalink)
Hmm interesting. It may have been like that here back in the early days of the internet but it's unheard of in my country now. I mean to be honest I have no idea how much I use per month but I don't imagine it's anywhere near 400gb/month. Who knows... I have no idea how much data playing online video games uses, not including downloading games or other things.
Houdiniman111 ยท 1 points ยท Posted at 11:52:26 on March 22, 2018 ยท (Permalink)*
My uncle could[n't] even get Comcast. They had some really crappy other service that only let them get up to 5/.1 Mbps. They had tried contacting Comcast for years to get them to run a line up the road (they live in a dead end street, and the road it connects to has Comcast) but they wouldn't.
Then one of their neighbors gets elected on the city council and starts asking around about if people want them to start laying down fiber optic.
Word reaches one woman who also lives on the street. Come to find out, she's the wife of a higher up in Comcast.
They lay the cable that week.
My uncle now has Comcast and is still pushing for fiber.
AnthonyZ99 ยท 11 points ยท Posted at 00:24:47 on March 22, 2018 ยท (Permalink)
If you ask to get transferred to retention that's where the good deals are
raptir1 ยท 2 points ยท Posted at 12:33:26 on March 22, 2018 ยท (Permalink)
Unfortunately Verizon FiOS, at least in my area, has done away with the "retention" department. Any customer service rep can cancel your service now.
antemon ยท 1 points ยท Posted at 12:12:03 on March 22, 2018 ยท (Permalink)
at least try to act like you want to terminate your services, and be sure to say it. reps can't transfer without "a valid reason"
FoctopusFire ยท 7 points ยท Posted at 00:18:52 on March 22, 2018 ยท (Permalink)
I really donโt understand why as many people have cable as they do. Itโs pretty much inferior in every way to just using the internet.
And no I donโt live in a place with fast internet. Itโs just fast enough that itโs better than TV.
dquizzle ยท 3 points ยท Posted at 04:18:06 on March 22, 2018 ยท (Permalink)
Sports is a big part of it. I donโt think itโs possible to watch sports teams of the area you live in, since local games are blacked out of you buy a hockey/baseball/football package.
MisfireJASU ยท 2 points ยท Posted at 05:12:52 on March 22, 2018 ยท (Permalink)
There is a way it's just not legal which is a turnoff for a lot of people.
YourTherapistSays ยท 1 points ยท Posted at 06:11:12 on March 22, 2018 ยท (Permalink)
Sports is legit the only reason we still have cable.
OutDoorPowerSale ยท 1 points ยท Posted at 09:58:22 on March 22, 2018 ยท (Permalink)
You buy an antenna for around $40 or so. Entirely legal.
dquizzle ยท 2 points ยท Posted at 12:28:51 on March 22, 2018 ยท (Permalink)
And you would get cable programming? I have an antenna that gives the basics, but all of the baseball hockey games in my city are on a cable channel except for a handful of games.
OutDoorPowerSale ยท 1 points ยท Posted at 23:14:39 on March 22, 2018 ยท (Permalink)
Really? They tend to be on the broadcast channels
Binkusu ยท 1 points ยท Posted at 11:41:52 on March 22, 2018 ยท (Permalink)
My dad likes to watch the news and weather channel and sports. That's basically it.
SDBassCreature ยท 3 points ยท Posted at 02:09:40 on March 22, 2018 ยท (Permalink)
Pretty much same here. Was paying $150 a month for bundled cable and internet. I was moving to my first house from apartment living. Called them up and said I've been a loyal customer for almost a decade, and when they transferred my service if there was anything they could do for me. They said nope, so I told them I was dropping cable. They didn't even flinch and so when I transferred service I only transferred internet. Saves me a hundred bucks a month and I've learned I don't really need cable.
farkedup82 ยท 2 points ยท Posted at 00:51:06 on March 22, 2018 ยท (Permalink)
you didn't say bye... You use them for internet. I haven't had cable tv in at least 5 years. I forgot that was even a thing still. I have an antenna up on a tower + plex DVR + MCEBuddy and playon. I rotate video subscriptions and have a big server
[deleted] ยท 0 points ยท Posted at 01:57:09 on March 22, 2018 ยท (Permalink)
[deleted]
farkedup82 ยท 1 points ยท Posted at 14:12:43 on March 22, 2018 ยท (Permalink)
I didn't say anything about internet for free. I pay $75/mnth for my 100Mb down 10 up. I live in a comcast cap region (chicago) so I have to pay the $25/mnth uncapped fee. I hate comcast but they're far superior to my only other option (frontier) who doesn't offer faster than I think 20Mb. antenna on tower is for tv. Long range wifi just doesn't work unless both sides are using some high end directional equipment.
TheFireSwamp ยท 1 points ยท Posted at 02:24:00 on March 22, 2018 ยท (Permalink)
I live in Kansas and use my friends time Warner account. They live in California.
I have internet and can log into the apps for most networks I enjoy. ๐
PM_Me_Yur_Vagg ยท 1 points ยท Posted at 05:45:11 on March 22, 2018 ยท (Permalink)
Just snipped the cord (mostly) to Verizon. Fuck them. I called threatening to cancel cable if they couldn't just match what I was previously paying, If I renewed my contract. Nope. Counter with a $30 increase for the same service but maginally faster speeds. Like 50/50 to 150/150 (it seems way faster, but gigabit is $90 for new customers.) I went with just the internet for like $60 and refuse to look back. I'll stream illegally all day with the fire stick. Fuck the establishment, man.
MilleniaOfficial ยท 1 points ยท Posted at 07:48:39 on March 22, 2018 ยท (Permalink)
Sounds a lot like a particular south park episode
kshucker ยท 1 points ยท Posted at 13:33:04 on March 22, 2018 ยท (Permalink)
Iโm a huge advocate for getting rid of cable TV. Just use Internet. I honestly only watch football, March Madness and local TV. I can usually find live streams of games I want to watch here on Reddit, and have an HD antenna for local channels.
I honestly have no idea how much cable TV costs anymore, but Iโm sure itโs way more than $100. Fuck that.
iveseensomethings82 ยท 1 points ยท Posted at 14:35:12 on March 22, 2018 ยท (Permalink)
This happened to me once too. I called them and threatened to go to a competitor. I told them when I planned to start with the competition. They said thank you for being a customer, your service will be off that day. So I called back and spoke to someone else. They were more willing to retain my business.
Cainga ยท 1 points ยท Posted at 17:56:30 on March 22, 2018 ยท (Permalink)
Itโs kinda funny how on TV they thought they held all the power when they really didnโt. Digital antennas and streaming services offer a better cheaper experience. Too bad they still have all the power on the internet.
rezachi ยท 1 points ยท Posted at 01:00:13 on March 23, 2018 ยท (Permalink)
Similar story here. I called Charter about a price reduction and they said no. So, I called Dish network, set up service, and called Charter back to put an end date on my service. At that point, they offered me the world. I calmly explained that we already had this discussion, they said nothing can be done, and I made decisions and spent money based on what they told me, so I was not interested in throwing that money away.
thedvorakian ยท -1 points ยท Posted at 04:40:34 on March 22, 2018 ยท (Permalink)
Doesn't cord cutting mean you swear off internet? How are you still on line?
Decyde ยท 31 points ยท Posted at 21:50:43 on March 21, 2018 ยท (Permalink)
You have to talk to the cancellation department a lot of the time.
Ask them how long you have to be unsubbed for before you can get a new account with them at their new customer price.
A lot of times that person will just give you the new customer price for a year so they can put down they retained the account and it's not like they were losing anything.
I think it's like 30 days for most places but if you have a friend who is willing to let you use their name on an account, you can cancel today and then sign up with a friend tomorrow at your address and then just swap back in a few months.
DO NOT tell them you're doing that or they will note it and deny a new customer at that residence for 30 days.
pj530i ยท 2 points ยท Posted at 18:35:08 on March 22, 2018 ยท (Permalink)
The Spectrum cancellation person I talked to recently didn't offer me anything, even when I outright told her that I was going to cancel and have my roommate call in 20 minutes to establish a new account. All she was allowed to do is read off a script that promotional rates are for new customers only. She seemed mad when I asked to proceed with the cancellation.
It will be interesting to see what happens when the roommate has to call and ask for an extended promotional rate later this year.
gingerzombie2 ยท 1 points ยท Posted at 00:15:21 on March 22, 2018 ยท (Permalink)
Comcast told me it was 6 months. He may have been bluffing, I was willing to cut it for a month while we were moving house. But he sounded pretty serious.
Boop489 ยท 1 points ยท Posted at 06:05:02 on March 22, 2018 ยท (Permalink)
I've done it same day
gingerzombie2 ยท 1 points ยท Posted at 15:43:41 on March 22, 2018 ยท (Permalink)
That's hilarious. Their records must suck. Or did you open the new account in someone else's name? (Spouse, roommate)
NetworkingJesus ยท 2 points ยท Posted at 16:21:31 on March 22, 2018 ยท (Permalink)
I just did it with Spectrum by using my middle name.
mylarky ยท 98 points ยท Posted at 21:42:43 on March 21, 2018 ยท (Permalink)
cut the cord - problem solved.
Internet only w/ Netflix is much cheaper than any cable+internet package.
[deleted] ยท 178 points ยท Posted at 21:48:35 on March 21, 2018 ยท (Permalink)*
[removed]
chach_86 ยท 44 points ยท Posted at 21:57:06 on March 21, 2018 ยท (Permalink)
I agree. I still did it a few years back and while I miss some of the sports coverage I don't 80-bucks-a-month miss it.
[deleted] ยท 10 points ยท Posted at 21:59:53 on March 21, 2018 ยท (Permalink)*
[removed]
RndmGuyNotACop ยท 3 points ยท Posted at 00:09:13 on March 22, 2018 ยท (Permalink)
Look into PSVUE.
ThePartyWagon ยท 2 points ยท Posted at 04:49:26 on March 22, 2018 ยท (Permalink)
Salt Lake?
Kravego ยท 61 points ยท Posted at 22:09:11 on March 21, 2018 ยท (Permalink)
If legality isn't an issue for you, streams are readily available.
salgat ยท 27 points ยท Posted at 00:45:30 on March 22, 2018 ยท (Permalink)
Too bad it's a pain in the ass. Yeah I know reddit has subreddits for that, but it's just annoying having to track down a stream of varying quality every time you want to watch a game.
DerpiesG ยท 7 points ยท Posted at 02:18:11 on March 22, 2018 ยท (Permalink)
I can't speak for any other sport but the /r/nflstreams never let me down and I watch a small market team. I was dreading the same thing when I cut the cord but I haven't missed a game yet.
Ed-Zero ยท 2 points ยท Posted at 04:02:59 on March 22, 2018 ยท (Permalink)
If you look in the sidebar of that sub, they have a whole list of other sports streams
mbx220 ยท 1 points ยท Posted at 17:17:12 on March 22, 2018 ยท (Permalink)
r/lazyman for hockey and MLB. It's the end all be all.
NoLifePotHead ยท 3 points ยท Posted at 02:51:36 on March 22, 2018 ยท (Permalink)
Between streaming and using a TV antenna we don't miss much over here!
Cainga ยท 2 points ยท Posted at 17:59:55 on March 22, 2018 ยท (Permalink)
I tried XBMC which was ok but a very frustrating experience. The reddit streams usually give me what I want but sometimes disappoint me. Cable is still the best sports experience by far but is no way worth the price point for my consumption habits.
BrackaBrack ยท 1 points ยท Posted at 11:59:24 on March 22, 2018 ยท (Permalink)
Buffstreams (always in the subreddit) has been pretty reliable for NFL games.
Pbernier94 ยท 0 points ยท Posted at 05:20:18 on March 22, 2018 ยท (Permalink)
You must not know about iptv
Trailer_Park_Stink ยท 6 points ยท Posted at 22:22:09 on March 21, 2018 ยท (Permalink)
r/nflstreams
Subby13 ยท 4 points ยท Posted at 01:44:23 on March 22, 2018 ยท (Permalink)
Unfortunately, with the increase in cord-cutters, a lot of those streams have slowed down in the last year or two to the point where I miss about a half hour of each game jumping around to different streams. They also seem to get shut down with higher frequency.
NBA, MLB, and NHL streams are still outstanding, though.
le_sweden ยท 1 points ยท Posted at 01:48:32 on March 22, 2018 ยท (Permalink)
I just go with NFL game pass. Itโs not that expensive. Plus Iโm a Jets fan in Minnesota so local blackouts donโt hurt me ever.
Subby13 ยท 4 points ยท Posted at 02:19:30 on March 22, 2018 ยท (Permalink)
I was going to make a joke about the Jets but looked around my Bears fan glass house and put my stone down.
Tublover ยท 5 points ยท Posted at 01:02:33 on March 22, 2018 ยท (Permalink)
And /r/soccerstreams if you like the other kind of football.
[deleted] ยท 6 points ยท Posted at 01:06:53 on March 22, 2018 ยท (Permalink)
the best kind
ElitistPoolGuy ยท 1 points ยท Posted at 00:00:30 on March 22, 2018 ยท (Permalink)
Well thats what i'm referring to. There's no twitch-like service that allows for simple, legal streaming of live sports in the US. There's Sling, but I haven't heard great things about it.
[deleted] ยท 2 points ยท Posted at 00:35:35 on March 22, 2018 ยท (Permalink)
Most places it's not illegal for you to stream that stuff, it's just illegal for whomever is hosting it.
ToothlessBastard ยท 1 points ยท Posted at 00:05:26 on March 22, 2018 ยท (Permalink)
I used Sling for a couple of months last year for NBA Playoffs, and it worked just fine. But I did see a lot of bad reviews when I signed up. And I didn't have it for very long.
Just in case you're considering cord-cutting and catching playoffs only, you've at least heard one success story.
ElitistPoolGuy ยท 1 points ยท Posted at 00:07:51 on March 22, 2018 ยท (Permalink)
I cord cut years ago, but I watch games at my friends places or at bars so its not the worst. I only marginally care about sports though so it wasn't even part of my decision. For a lot of people, though, it's a big deal.
carnold744 ยท -3 points ยท Posted at 23:17:08 on March 21, 2018 ยท (Permalink)
Yeah, slow and choppy malware infested streams.
pioxs ยท 39 points ยท Posted at 23:43:26 on March 21, 2018 ยท (Permalink)
I use Youtube TV and never have an issue streaming what sports I want, and some I didn't even know I wanted. Check it out.
Also yeah, fuck comcast.
Bones_MD ยท 11 points ยท Posted at 22:11:13 on March 21, 2018 ยท (Permalink)
More excuses to go to a bar - drink and watch the game
mylarky ยท 2 points ยท Posted at 22:29:22 on March 21, 2018 ยท (Permalink)
and.... it's still cheaper (in some instances).
sloth2 ยท 1 points ยท Posted at 02:21:17 on March 22, 2018 ยท (Permalink)
if you do that every week it'd be arguably cheaper to buy cable lol
fatpat ยท 1 points ยท Posted at 03:17:10 on March 22, 2018 ยท (Permalink)
When I used to drink + cab = a very expensive evening. Plus nobody there were Raiders fans, just a bunch of obnoxious Cowboys fans.
jatorres ยท 9 points ยท Posted at 22:22:22 on March 21, 2018 ยท (Permalink)
I stream all the sports I want, but not exactly the way they want me to, if you get my drift.
fatpat ยท 2 points ยท Posted at 03:17:40 on March 22, 2018 ยท (Permalink)
I too take to the high seas when I need my sports fix.
reedsgrayhair ยท 2 points ยท Posted at 23:12:53 on March 21, 2018 ยท (Permalink)
lol he thinks sports arent streamed online
ElitistPoolGuy ยท 1 points ยท Posted at 23:58:30 on March 21, 2018 ยท (Permalink)
Besides bootleg streams, where can you get them?
OilyBobbyFl4y ยท 1 points ยท Posted at 00:31:56 on March 22, 2018 ยท (Permalink)
Hulu, youtube TV, sling
[deleted] ยท 2 points ยท Posted at 23:24:45 on March 21, 2018 ยท (Permalink)
Sling TV and, I think, a lot of the streaming cable replacement services now have ESPN and a bunch of sports.
The only thing is... you need fast internet to watch those, which means cable internet in many places, which still keeps you with Comcast.
crossrocker94 ยท 2 points ยท Posted at 00:08:57 on March 22, 2018 ยท (Permalink)
YouTube tv?
Points_To_You ยท 2 points ยท Posted at 01:00:47 on March 22, 2018 ยท (Permalink)
With YouTube TV you can.
Problem is YouTube TV + stand alone internet from Comcast costs me the same as just getting internet + cable from Comcast except I get faster internet if I bundle them.
distant_orbit ยท 2 points ยท Posted at 03:21:25 on March 22, 2018 ยท (Permalink)
This. I don't understand how these people are just saying get internet only . Its literally the same price as getting a package here if you want 50mbps or more internet
SeantotheRescue ยท 2 points ยท Posted at 22:24:17 on March 21, 2018 ยท (Permalink)
I haven't had cable for nearly a year and haven't missed a single live sports event I wanted to watch. Between Sling & my over the air antenna, I am covered. Granted, Sling is a OTT service owned by DISH, but I still only pay a fraction of what I did with Spectrum.
ElitistPoolGuy ยท 1 points ยท Posted at 23:59:25 on March 21, 2018 ยท (Permalink)
Does sling have NCAA football? Live?
SeantotheRescue ยท 2 points ยท Posted at 00:01:49 on March 22, 2018 ยท (Permalink)
It has a number of channels that air it. I would look on their website. Directv Now is another option but slightly pricier
1379731 ยท 1 points ยท Posted at 00:24:37 on March 22, 2018 ยท (Permalink)
There are a number of tv streaming options that provide ESPN/Fox Sports/Local channels - all pretty affordable IMO. Much more affordable than a cable bill - I switched to internet only a little over a year ago and haven't regretted it for even a second.
car_go_vroom_vroom ยท 1 points ยท Posted at 23:18:22 on March 21, 2018 ยท (Permalink)
you can do that already.
ScumbagAmerican ยท 1 points ยท Posted at 23:43:34 on March 21, 2018 ยท (Permalink)
FuboTv subscription is $45 a month and you get So. Many. SPORTS.
I-Love-Patches ยท 1 points ยท Posted at 00:14:11 on March 22, 2018 ยท (Permalink)
Wiziwig.to
MadKat88 ยท 1 points ยท Posted at 00:24:09 on March 22, 2018 ยท (Permalink)
The only reason I have cable at all is for Giants Baseball.
BaronCapdeville ยท 1 points ยท Posted at 00:35:47 on March 22, 2018 ยท (Permalink)
So what your saying is, when Disney puts out their new ESPN model, I need to short comcast?
[deleted] ยท 1 points ยท Posted at 01:55:05 on March 22, 2018 ยท (Permalink)
YouTube TV and DirecTVNow Iโm pretty positive have sports packages. Those are treated the same as a Netflix subscription, cancel any time no contract and I think they both start at about $35 a month and include on demand with live TV and I know for sure you can use the DirecTV now log in for any of the networks apps/sites that youโre subscribed to through the package you chose. They both offer free trials too.
sloth2 ยท 1 points ยท Posted at 02:20:12 on March 22, 2018 ยท (Permalink)
r/nflstreams
Lucosis ยท 1 points ยท Posted at 02:43:39 on March 22, 2018 ยท (Permalink)
Youtube.tv is $35 a month, gives you all the major networks, TNT, TBS, ESPN, and you can buy NBA league ticket, and presumably NFL when that season rolls around.
sysadmin420 ยท 1 points ยท Posted at 03:11:39 on March 22, 2018 ยท (Permalink)
in 4K, please. 1080p streams make my eyes bleed sometimes. Although I think Sling has a decent sports package, and PS Vue seems to as well. What are you looking to stream?
CrypticCube ยท 1 points ยท Posted at 03:53:24 on March 22, 2018 ยท (Permalink)
YouTube TV, Sling TV
VivaLaDbakes ยท 1 points ยท Posted at 05:06:42 on March 22, 2018 ยท (Permalink)
Well that day already exists because reddit has stream subs for every major sport in HD. I havenโt paid for a ufc card in years and stream that shit for free in glorious HD. About to cut cox cable because theyโre a bunch of cox suckers.
People just arenโt interweb savy and realize these streams exist.
sml09 ยท 1 points ยท Posted at 05:51:48 on March 22, 2018 ยท (Permalink)
Amazon prime is already starting on that! Last season you could stream Thursday night football or st (not a football fan but I saw the banners)
Paladin2903 ยท 1 points ยท Posted at 05:52:45 on March 22, 2018 ยท (Permalink)
You can watch any game for free by just googling it. I mirror them from my phone to the Apple TV, and it shows up right on my big screen TV.
Bleda412 ยท 1 points ยท Posted at 07:14:26 on March 22, 2018 ยท (Permalink)
LOL. Comcast owns NBC, a whole bunch of people who use the internet in the USA, and a whole lot more.
afi44 ยท 1 points ยท Posted at 07:42:12 on March 22, 2018 ยท (Permalink)
it will help but I think its a generation thing. a lot of older guys i know at work would never do it.
panteegravee ยท 1 points ยท Posted at 13:16:41 on March 22, 2018 ยท (Permalink)
It will never happen. Comcast is only part of the problem. NCAA, NFL, NBA, MLB, NHL etc etc etc are making the decisions here. You really think they are just going to walk away from billion dollar deals to let us stream 'any sports' we want for free online? Nope...we will just end up paying 12 different organizations....then STILL have to sit through targeted ads.
ElitistPoolGuy ยท 1 points ยท Posted at 14:38:16 on March 22, 2018 ยท (Permalink)
I never said stream for free. Thatโd be silly to expect.
panteegravee ยท 1 points ยท Posted at 14:59:06 on March 22, 2018 ยท (Permalink)
Agreed, which then I assume the main objective is to never have to deal with Comcast again.
DubDoubley ยท 1 points ยท Posted at 15:35:27 on March 22, 2018 ยท (Permalink)
/r/mlbstreams
/r/nflstreams
/r/nhlstreams
/r/nbastreams
Happy cord cutting!
ElitistPoolGuy ยท 1 points ยท Posted at 15:56:30 on March 22, 2018 ยท (Permalink)
I cut years ago. Plus Iโd rather not get malware from those shitty sites.
v_acat_v ยท 1 points ยท Posted at 16:16:39 on March 22, 2018 ยท (Permalink)
lol reddits streams are the best out there...
ElitistPoolGuy ยท 1 points ยท Posted at 16:20:25 on March 22, 2018 ยท (Permalink)
So many people are saying it's possible, but won't provide links. Interesting.
v_acat_v ยท 1 points ยท Posted at 16:22:21 on March 22, 2018 ยท (Permalink)
use the freaking search bar. In light of recent reddit banning you should understand
ElitistPoolGuy ยท 1 points ยท Posted at 16:26:16 on March 22, 2018 ยท (Permalink)
I personally give zero shits about crappy bootleg streams. And neither does anyone else. Which is why no one cuts the cord due to sports being easier to watch on cable.
v_acat_v ยท 1 points ยท Posted at 16:27:06 on March 22, 2018 ยท (Permalink)
lol. Almost all are HD, and some sports like nhl and mlb stream at 60fps which is actually better than tv broadcasts
inebriusmaximus ยท 1 points ยท Posted at 16:32:51 on March 22, 2018 ยท (Permalink)
https://www.sling.com/programming/sports
Getting there little by little.
SludgeFactory20 ยท 4 points ยท Posted at 01:45:51 on March 22, 2018 ยท (Permalink)
I wish Netflix would put up like a "My channel" thing.
Like take all the shows I've seen or shows I add to it and play random episodes randomly.
It's nice to be able to turn on cable and watch a random episode of let's say Criminal Minds that I've seen before, e.g. S6E5. Going into Netflix now you have to select an episode and personally I hate picking out a episode. I'd never randomly pick S6E5 because I feel like I should start from the beginning but no one has time to watch all of Criminal Minds again. Random episodes are awesome though.
I might be odd though. I personally don't like Spotify and perfer Pandora Because I like the random radio aspect. I know Spotify has a Radio option like Pandora but then I feel like I should be picking out songs I want to listen to rather than just going with the flow.
hamakabi ยท 7 points ยท Posted at 22:56:56 on March 21, 2018 ยท (Permalink)
if you're still buying internet from the cable company, how are you cutting the cord? You're just using a different cord.
xixi2 ยท 3 points ยท Posted at 00:12:24 on March 22, 2018 ยท (Permalink)
Sometimes you're using the same cord... idk what the guy was talking about but it's pretty common for redditors to not have cable TV.
Not having internet is a bit more rare.
red-bot ยท 1 points ยท Posted at 23:38:23 on March 21, 2018 ยท (Permalink)
Look into getting an antenna. I get between 30 and 40 channels. Most of them are shit, sure. But! I still get the basic news channels, pbs, and the rest. Worth a shot.
mylarky ยท 1 points ยท Posted at 23:39:36 on March 21, 2018 ยท (Permalink)
I totally would, but my TV is from 2007, just before the HD rf change. Last I read is that I would not be able to receive without an additional converter box.
red-bot ยท 3 points ยท Posted at 00:03:02 on March 22, 2018 ยท (Permalink)
Cancel Cable --> Wait 3 Months --> Treat yourself to a new TV with the money you saved!
(Woops, we're in r/personalfinance , not r/frugal :P)
EldeederSFW ยท 1 points ยท Posted at 01:04:06 on March 22, 2018 ยท (Permalink)
Plex media server!!! I use that with Roku. Every movie or tv show I have digitized on any tv in the house. It even gets the meta data right off the web so you know episode info and everything. Also, itโs free!
panteegravee ยท 1 points ยท Posted at 13:12:46 on March 22, 2018 ยท (Permalink)
Cable companies are 'over it' too. Programmers (content providers) are the only ones making money on cable TV. Everyone has been screaming for an a-la-carte TV solution for years....be careful what you wish for. Instead of paying one provider for everything, we are slowly going to be paying 6 providers....or we could just read a book instead I suppose.
BirdLawyerPerson ยท 1 points ยท Posted at 13:31:02 on March 22, 2018 ยท (Permalink)
That's not automatically true. Most places I've lived, the internet + cable packages are generally about $20 to $30 more than just internet. At that point, you gotta ask whether it's worth it for the shows that aren't already on Hulu, live sports, live events, etc.
And the first year deals for cable+internet tend to be roughly the same price as internet. I usually get both cable + internet if I'm moving into a new place. If I stay in a place for longer than a year, and the promo price expires, that's usually when I "downgrade" to internet only.
tookTHEwrongPILL ยท 1 points ยท Posted at 14:18:33 on March 22, 2018 ยท (Permalink)
Netflix is a fair value but also so limited. You also need Amazon video, Hulu, HBO now, and will still have to purchase most movies separately through Vudu or something. And then you still don't have access to sports.
tossback2 ยท 1 points ยท Posted at 21:49:29 on March 21, 2018 ยท (Permalink)
I haven't even noticed that I cut the cord a year ago. Netflix is so vastly superior to cable in every conceivable way that cable looks like a fucking joke.
odd84 ยท 1 points ยท Posted at 23:38:02 on March 21, 2018 ยท (Permalink)
That's a bit of an exaggeration. It's not hard to "conceive" of a way in which cable TV is superior to Netflix: about 3000 new TV series per year that air on cable but Netflix won't carry for a year or more if ever. Maybe you don't care about watching current television, but you can certainly "conceive" that others do.
Hulu is more akin to a cable subscription than Netflix, which is basically HBO with a bigger library. You wouldn't compare one channel to all of cable and network television. Hulu carries most network television and a large selection of cable television and you can watch it same-day or next-day after it airs live.
tossback2 ยท 0 points ยท Posted at 00:31:38 on March 22, 2018 ยท (Permalink)
I'll just watch those shows on Netflix though, with no commercials, and no waiting for the next episode to release.
It's laughable how you can try to defend cable as being worth a damn.
gdq0 ยท 9 points ยท Posted at 21:46:55 on March 21, 2018 ยท (Permalink)
I've never lived in an area with an actual monopoly on internet.
Back when internet was optional we had a broadband monopoly for a little while on cable, and that lasted a good 8 years, but then we got fiber from a local ISP and I was able to put them in a bit of a price war (unfortunately cable usually won). Never looked into DSL at that point.
Now I've at least got cable and DSL I can swap back and forth on every year, I just have to deal with centurylink every other year unless I can talk one of them into giving me $40-50 40/5+.
katarh ยท 1 points ยท Posted at 15:47:20 on March 22, 2018 ยท (Permalink)
The issue is that the DSL in our area has not been updated so our choices are cable with decent speeds (60 down, 15 up) or DSL with 20 year old technology speeds (6 down, 0.5 up, and it slows down intermittently at random times for unknown and never explained reasons.)
The DSL is not significantly cheaper than the cable. So cable has an effective monopoly on Internet, since the DSL is not a comparable service.
fooke33 ยท 7 points ยท Posted at 21:46:56 on March 21, 2018 ยท (Permalink)
Cox is seriously the worst, I hate them
Kravego ยท 17 points ยท Posted at 22:10:52 on March 21, 2018 ยท (Permalink)
Nowhere close.
I mean, no big ISP is great, but you can't really compare Cox to ATT, Verizon, Spectrum or whatever the fuck they're called now, and especially Comcast. The shittiness scale reads off the charts for all 4 of them lol.
night-shark ยท 10 points ยท Posted at 23:44:50 on March 21, 2018 ยท (Permalink)
So funny. It must be incredibly area specific. I've had Cox, Time Warner (Spectrum) and ATT over the years. Cox has consistently been the best of them all in terms of up time and speed consistency.
ATT was practically unusable between 6PM and 8PM. When it rained, forget it.
Time Warner was great but their top speeds weren't the best. Up time was good though.
NickiName ยท 2 points ยท Posted at 21:48:49 on March 21, 2018 ยท (Permalink)
Frontier is pretty bad too. Especially when they bought us from Verizon. But my only other choice is Comcast. So...
BurntPaper ยท 2 points ยท Posted at 23:43:10 on March 21, 2018 ยท (Permalink)
Verizon used to be shit, especially on customer service. Then over the years they became amazing. Then they got bought out by Frontier and it's worse than Verizon ever was.
cjthomp ยท 1 points ยท Posted at 04:22:05 on March 22, 2018 ยท (Permalink)
If Cox is the worst you've dealt with, you've lived a charmed life and I'm jealous.
troutburger30 ยท 2 points ยท Posted at 23:37:53 on March 21, 2018 ยท (Permalink)
Irvine, CA?
LeroyDankin ยท 2 points ยท Posted at 01:14:41 on March 22, 2018 ยท (Permalink)
I used to work for a call centre in canada that dealt with Cox cables inbound calls. I always finished my calls with "Thanks for choosing Cox." Sometimes when people would complain my response would be "I'm sorry that Cox seems to be giving you a hard time" Needless to say my manager wasnt too happy when she listened back on my calls and wrote me up as consequence.
seriouspostsonlybitc ยท 2 points ยท Posted at 01:55:09 on March 22, 2018 ยท (Permalink)
You should be mad at the legislators who made competition illegal.
MechE13 ยท 2 points ยท Posted at 15:20:45 on March 22, 2018 ยท (Permalink)
COX is such a cuck of a company. If you try to just have internet they upcharge so much. I just moved 2 hours north of where I lived and now I have Spectrum. Same exact service for about 50% of the cost. How is that shit legal when you have no choice?
Lolsmileyface13 ยท 1 points ยท Posted at 22:17:08 on March 21, 2018 ยท (Permalink)
Spectrum laughed and told me alright, go ahead. They are the only internet providers on my street.
NovaStubble ยท 1 points ยท Posted at 22:23:26 on March 21, 2018 ยท (Permalink)
Yeah. I really need to send an email to my state representatives.
Lolsmileyface13 ยท 2 points ยท Posted at 22:47:11 on March 21, 2018 ยท (Permalink)
Who are paid by spectrum lobbies? Haha
NovaStubble ยท 1 points ยท Posted at 23:02:16 on March 21, 2018 ยท (Permalink)
Handsomely paid
EngineeringPeace ยท 1 points ยท Posted at 23:46:25 on March 21, 2018 ยท (Permalink)
Just actually leave. See what happens. They might call you a week later with a "new offer".
Kenkaniff003 ยท 1 points ยท Posted at 23:50:34 on March 21, 2018 ยท (Permalink)
Sling tv and a digital antana is all you need.
NovaStubble ยท 2 points ยท Posted at 23:59:21 on March 21, 2018 ยท (Permalink)
Can you stream Netflix with an antenna? I think the only competitor available is Dish internet.
Kenkaniff003 ยท 2 points ยท Posted at 00:04:58 on March 22, 2018 ยท (Permalink)
You can get a roku or Apple tv for streaming Netflix, sling, Hulu pretty much anything. The antenna is to pick up your local channels.
NovaStubble ยท 2 points ยท Posted at 00:09:27 on March 22, 2018 ยท (Permalink)
Gotcha. I donโt need TV. Just internet.
The problem is, my area only has one internet provider.
Kenkaniff003 ยท 1 points ยท Posted at 00:11:45 on March 22, 2018 ยท (Permalink)
I see. That's a shitty problem to have. I ran into the same thing living out of town. You don't want dish internet, it's fast but you will hit your data limit in a week and be without internet for 3 weeks.
kibarra2010 ยท 1 points ยท Posted at 00:08:36 on March 22, 2018 ยท (Permalink)
I have Cox too!! What city?
2unlit2quit ยท 1 points ยท Posted at 00:12:01 on March 22, 2018 ยท (Permalink)
You have to get pretty far into cancelling with Cox but they will do it. Maybe tell them you are getting LTE or satellite. I have no other digital cable provider here, but I just use internet and a relative just switched to century Link (qwest) DSL because it was so much cheaper and when he was calling to really cancel they offered him a much lower rate even though he had called previously asking for it.
JohnnyNoToes ยท 1 points ยท Posted at 00:14:11 on March 22, 2018 ยท (Permalink)
After 3 years of this threat, my shit cable company stopped believing me and stopped reducing my bill. So, I cancelled. Saving $150 a month. It has been 2 weeks and I haven't once missed it. I probably could have cancelled it years ago and taken a trip with the cumulative savings.
upcboy ยท 1 points ยท Posted at 00:15:10 on March 22, 2018 ยท (Permalink)
Call and talk to the cancellation department not the billing. They usually have ways of lowering your bill down to current advertised rates.
nickolove11xk ยท 1 points ยท Posted at 00:33:40 on March 22, 2018 ยท (Permalink)
I just let another provider move in. I call ATT DSL and say I just got cable one, its faster need to cancel, They both fucking suck in my area but It gives you a much stronger hand with ATT when you tell them you already have another service. If they give you a really good deal then you can cancel the new people and get your money back, usually YMMV
Oneforburton ยท 1 points ยท Posted at 00:47:40 on March 22, 2018 ยท (Permalink)
Oklahoma?
dannyr_wwe ยท 1 points ยท Posted at 01:18:27 on March 22, 2018 ยท (Permalink)
Bill Cutterz was able to get me a higher speed for lower cost. They split the savings with you for the first year, and if they negotiated a longer term the rest of those savings are yours. Internet was really the only bill that I had that it made any sense.
s8l ยท 1 points ยท Posted at 01:45:05 on March 22, 2018 ยท (Permalink)
I got sling and told my parents to cancel their tv subscription, it was up at around 50 bucks. She had called before to cancel and they would give her 3 months of HBO or drop the bill for a few months.
Anyways, they love this setup more now and I can adjust stuff whenever I want and also watch tv from wherever.
So yea, even if there is a monopoly in your area, there really isnt.
imaguy411 ยท 1 points ยท Posted at 01:46:47 on March 22, 2018 ยท (Permalink)
I usually say "I notice you have this promo rate for new customers could you give me that rate as well?" Half the time they say sure, but once in a while they will say they can't. Then I say, well then I guess I will cancel and sign up again in my wife's name. So he transferred me to retentions, I tell them I want to cancel and have my wife get the promo rate since the customer service rep wouldn't help me out, and the retentions guy said " yeah they are dumb, here you go done. "
kwitit ยท 1 points ยท Posted at 01:55:05 on March 22, 2018 ยท (Permalink)
Look in to Youtube TV.
$35 a month for cable TV with unlimited DVR on the cloud. I LOVE IT!
taftstub ยท 1 points ยท Posted at 02:07:45 on March 22, 2018 ยท (Permalink)
I did this with an ISP one time and they were like here's their number GL man
Hshbrwn ยท 1 points ยท Posted at 02:08:49 on March 22, 2018 ยท (Permalink)
Hey new friend. I also hate cox cable!
weables ยท 1 points ยท Posted at 02:14:51 on March 22, 2018 ยท (Permalink)
Still worth trying to bluff. I only have one ISP in my area worth a damn, but I'm pretty sure company policy requires them to send you to retention if you ask to disconnect no matter what, so I still get a good deal doing it. Annoying having to do it every year though.
YesterEve ยท 1 points ยท Posted at 02:15:55 on March 22, 2018 ยท (Permalink)
No centurylink?
[deleted] ยท 1 points ยท Posted at 02:21:14 on March 22, 2018 ยท (Permalink)
Yeah, Cox Cable doesnโt give two shits. I was paying $85 a month for their 150 mb cable internet. AT&T came in and installed gigabit fiber in my neighborhood and is only charging $80 a month. I called cox and told them that Iโd be more than happy to stay with them and even pay them the same higher monthly fee if theyโd agree to bump me to their fastest 300 mb plan for the same monthly price. I thought it was a totally fair deal considering AT&T is charging less for 7 times the speed.
They said no. I even escalated it to their executive group thinking someone with a freaking working brain must work there. They also said no.
They were dumbfounded when I called to cancel. They sales rep kept trying to just get me to downgrade my plan to their cheapest and slowest was an excellent solution for me despite telling them multiple times I already had a working gigabit connection in my house.
agorathrow8080 ยท 1 points ยท Posted at 02:45:35 on March 22, 2018 ยท (Permalink)
This gets lost everywere, im in comcast land, a year ago they "upgraded" their system, even retention managers have no power if the option isnt listed, yiu dont get shit. Before they had freedom to do almost anything, now, pretty much zero. They are losing even more people and cant figure out why...well u fuck heads you took thw power away from thw people keeping people.
It sucks, even for the employees, but for those that read thia reply, when they say no, ita beacaue there isnt ahit they can do. They gey commision to keep you,its not a lie. Even in a near monoply i cant beleive a company could be so fucking stupid.
This is from my wife..who works there and does important shit, not some new c/s rep. If its not in the system, thee is no option, prior they could make their own adjustments with a tolerance, so yiu call to cancel, yiu will probbaly cancel, and they caught on, by jacking internet up, you wanna "cut the cord" go ahead but your internet is now **200/ mo ( i have no idea making a number up) sure you get all your movies and shoes on whatever, but mo.internet, no.shows, so fuck you customer.
For those around long.enough, remmeber when text cost money but data was freee? Now everything is data and they just keep jacking the cost, these.companies are stupid, they will get your money, so cut your cord and still pay out the ass to get content.
Rant over. Also yes, 20yrs in the business, credit card companies will usually pu you in anything that you qualify for. Always call them, there are to many. If it gets down to 2/3 companies the same shit.will happen, oh dontlike it? Fuck you. You wont do better..im shocked it hasnt happened yet tbh
ciezer ยท 1 points ยท Posted at 02:46:15 on March 22, 2018 ยท (Permalink)
Would you rather Comcast?
reddiliciously ยท 1 points ยท Posted at 02:59:34 on March 22, 2018 ยท (Permalink)
Same happens in my city in south Argentina, the internet-cable-phone company doesnโt allow big internet companies to provide their services in my city (cause is a โcooperativeโ), and their internet is proper shit unless you work for an Oil company ๐
PCHardware101 ยท 1 points ยท Posted at 03:26:13 on March 22, 2018 ยท (Permalink)
Yeah, they're a bunch of Cox
Waynok ยท 1 points ยท Posted at 03:30:40 on March 22, 2018 ยท (Permalink)
Cox is without a doubt one of the better shitty cable companies. I guess that's not saying much, but you best thank your lucky stars you aren't forced to deal with Time Warner or Comcast instead.
[deleted] ยท 1 points ยท Posted at 03:32:25 on March 22, 2018 ยท (Permalink)
Cox is the worst
critical2210 ยท 1 points ยท Posted at 03:50:34 on March 22, 2018 ยท (Permalink)
They donโt have a monopoly in no cable tho.
PutterPlace ยท 1 points ยท Posted at 03:51:32 on March 22, 2018 ยท (Permalink)
Cox is pretty decent on giving discounts. They're sometimes difficult to get to the point, but they will do it. Here's a tip: If you're talking cable, mention switching to satellite or some other provider, even if they're not that great. If you're talking internet, mention your cell provider, or any cellular provider in your area that offers home internet. When they tell you that their pricing structures are better, be sure to argue that it's not the pricing, but rather the performance and/or support. If that doesn't work, call again to talk to someone different. Failing all of the above, just talk about your attempt to lower your monthly obligations due to your newly-restrictive budget, and the fact that you're considering just cutting it out altogether.
They've got a pretty good customer retention department that will easily give you a discount of some sort, even if on a short term basis. At the end of that short term discount, simply call again and repeat the process.
Source: AFOM works for Cox.
Infin1ty ยท 1 points ยท Posted at 04:09:25 on March 22, 2018 ยท (Permalink)
I can leave my cable company and switch to a competitor, but I can't switch my internet (also through my cable company) without severely limiting my speed, and potentially being restricted to data limits. If I switch, I'm fucked, if I stay I'm fucked, so yeah, I feel your pain.
cjthomp ยท 1 points ยท Posted at 04:21:22 on March 22, 2018 ยท (Permalink)
Just be glad it's not Mediacom.
pornymcgee ยท 1 points ยท Posted at 04:32:04 on March 22, 2018 ยท (Permalink)
I have cox, u actually have to Bite the bullet and cancel. When u go return ur equipment they will give u that better deal
grissomza ยท 1 points ยท Posted at 04:41:27 on March 22, 2018 ยท (Permalink)
Hey man fellow prisoner over here
defiantPossum ยท 1 points ยท Posted at 04:51:53 on March 22, 2018 ยท (Permalink)*
Haha, they just tell me to call in Quarterly and instead ask for discounts. They offer new ones on that timeframe. They know the game. Always a good experience. Only idiots pay full price.
Last time I was at VONS, the cashier told me I โsavedโ $4. I told him he โdidnโt overchargeโ me $4. Duality in pricing and they screw you without the card. ๐คช
COX will also more than likely pay for your $50 unlimited โupgradeโ. BS fee due to enforcement of caps that only became an issue, er, โcash cowโ for them last year. They have an offsetting discount for like $45 if you ask. Always say your SO used the features and act unaware of what you need. That way they canโt cannibalize features to give you a better price, they have to apply credits.
Klutztheduck ยท 1 points ยท Posted at 04:58:12 on March 22, 2018 ยท (Permalink)
I have my own Verizon modem and my own Comcast modem, router. I still don't feel like the ball is in my court when I got to fight and try to wrangle a deal or switch every year.
Dickousbuttus ยท 1 points ยท Posted at 05:16:21 on March 22, 2018 ยท (Permalink)
Not anymore:
PS Vue Youtube TV Sling TV DirecTV now and probably 5 more new ones since I last checked.
Cloud DVR, as many TVs in your house as you what, on every device. Check out internet TV, I switched and wonโt switch back even if they match the price.
shicken684 ยท 1 points ยท Posted at 06:50:54 on March 22, 2018 ยท (Permalink)
Can you go a month or two without? Maybe see how much it would cost to tether with your phone. Even if it's going to cost you $50 it will be worth it. You can typically get the new customer pricing so long as you go a month without service.
redditbobby ยท 1 points ยท Posted at 06:51:56 on March 22, 2018 ยท (Permalink)
I do leave. Then my wife subscribes to service with whatever new customer special. Then she threatens, and maybe I subscribe.
They claim to be keeping thank but we have been doing this for 3 or 4years now.
ThatCrazyBrazilian ยท 1 points ยท Posted at 07:11:07 on March 22, 2018 ยท (Permalink)
I recently moved to Alaska and not only is there a monopoly on internet/cable/phone but the internet is capped. Screw GCI and their โlimitedโ internet. Itโs things like that which I took for granted back when we lived in the lower 48..
If you want to see some true anger/comedy, do a search for GCI in any Alaskan sub..
____DEADPOOL_______ ยท 1 points ยท Posted at 08:09:33 on March 22, 2018 ยท (Permalink)
When I was with Cox, I would disconnect my service for a day and then have it reconnected. They would always give me the new customer rate. Once I got married, my wife and I would switch the account ownership every 6 months which ensured minimal interruptions.
copaceticsativa ยท 1 points ยท Posted at 11:02:52 on March 22, 2018 ยท (Permalink)
Sometimes we cancel our internet with Cox for a little bit (i can't remember if it's just 1 day or a week) and then you qualify to sign back up for the "New contract promo".
NoLaMess ยท 1 points ยท Posted at 11:03:40 on March 22, 2018 ยท (Permalink)
New Orleans?
Binkusu ยท 1 points ยท Posted at 11:38:13 on March 22, 2018 ยท (Permalink)
Told Charter the same. They don't care. They know.
Business-is-Boomin ยท 1 points ยท Posted at 12:09:18 on March 22, 2018 ยท (Permalink)
Cord cutting is easy. You won't miss cable.
NovaStubble ยท 1 points ยท Posted at 12:19:02 on March 22, 2018 ยท (Permalink)
Cable is my internet. I only have availability to one ISP
I donโt have Cable TV
Business-is-Boomin ยท 1 points ยท Posted at 12:41:43 on March 22, 2018 ยท (Permalink)
That stinks.
Mike5250 ยท 1 points ยท Posted at 12:10:14 on March 22, 2018 ยท (Permalink)
Sling tv isnโt bad if you get cheap internet.
kshucker ยท 1 points ยท Posted at 13:30:18 on March 22, 2018 ยท (Permalink)
I live around Philadelphia (Comcast area) and used to live in San Diego (Cox area). Still have the same problem.
From how it was explained to me by an IT friend, Comcast basically โownsโ all the cable lines. They can let other companyโs use them, but they have to โbuyโ the ability from Comcast. The problem is that the price to โbuyโ is so fucking astronomical that every other company is like, NOPE. It would take so long for them to make the money back from the new customers that it just isnโt profitable.
Iโm sure itโs a similar problem out west.
iamthatguy54 ยท 1 points ยท Posted at 14:31:13 on March 22, 2018 ยท (Permalink)
I hate Cox so much.
c0ldflame23 ยท 1 points ยท Posted at 14:41:29 on March 22, 2018 ยท (Permalink)
Yeah I told cox I was going to switch bc I found cheaper internet and they said okay. Then two weeks after I switched called me back and offered me a cheaper rate. Like I would have taken that had you offered it to me before but I just paid the dumb set up fee and modem for the other company Iโm not going to switch back now.
TheGhostofSwitzer ยท 1 points ยท Posted at 14:59:59 on March 22, 2018 ยท (Permalink)
Cox cable is a pretty good company to be stuck with. There's a long list of far worse ISPs.
NetworkingJesus ยท 1 points ยท Posted at 16:14:01 on March 22, 2018 ยท (Permalink)*
Cancel, then go into the store the next day and sign up as a new customer using your middle name. When they look at your ID and pull up the address and ask if you already had service, tell them you're renting from a relative with the same first name and you go by your middle name to avoid confusion. Go the extra mile and give them some random google voice number instead of your regular phone number (then change it in your online account later).
I literally just did this yesterday with Spectrum because they wouldn't renew my discount anymore. TWC used to always just give me the new customer discount again every year if I called up after it expired, with no hassle. Spectrum refused even after threatening to leave (although they did try to offer a lesser discount). So I decided to try this because worst case scenario was that I'd just tether off my phone for 31 days and then legitimately qualify as a new customer again.
edit: I think this is obvious, but don't try to drop off the old equipment in the same visit, and definitely don't try to use it. Disconnect the old gear before signing up, take the new gear home and connect it, then go back and drop off the old gear on a different day. Even if the people in the store recognize you and catch on, or hell even if they don't buy your lie in the first place, chances are likely that it's beyond their pay-grade to give a shit and try to call you on it. But still best not to make it abundantly obvious; gotta keep some plausible deniability in there until you're already signed up again.
logepoge1 ยท 1 points ยท Posted at 16:42:20 on March 22, 2018 ยท (Permalink)
Luckily I live in a city where Cox has a monopoly on apartment complexes but the public utility service offers fiber for houses. I can't wait till I can move and basically flip the bird to Cox.
superbovine ยท 1 points ยท Posted at 18:46:58 on March 22, 2018 ยท (Permalink)
Charter/Spectrum has a tight Monopoly in my town. I just use the ol poor college kid story and it usually nets me a $15-20 discount every year. The CSRs really don't care it seems like and will enroll me in whatever promotion is running.
stressedbuthappy ยท 1 points ยท Posted at 14:47:02 on March 23, 2018 ยท (Permalink)
I had a roommate who was frustrated with their tech support scheduling and said "you guys really are a bunch of cocks" during a call with them
Vendetta5885 ยท 1 points ยท Posted at 02:55:19 on March 24, 2018 ยท (Permalink)
I just cut the cord. I love sling.
eyi526 ยท 1 points ยท Posted at 19:17:31 on July 6, 2018 ยท (Permalink)
I was in the same boat until FiOS was available. Paying about half of what I paid for Cox and with faster internet.
ZachPutland ยท 1 points ยท Posted at 22:48:18 on March 21, 2018 ยท (Permalink)
Yes Cox is awful. Luckily Verizon came into town a few years back and gave them legitimate competition
NotnotNeo ยท 1 points ยท Posted at 23:56:36 on March 21, 2018 ยท (Permalink)
Yes, fuck cox
erca111 ยท 1 points ยท Posted at 01:49:30 on March 22, 2018 ยท (Permalink)
Cox is the worst!!!
[deleted] ยท 0 points ยท Posted at 05:26:31 on March 22, 2018 ยท (Permalink)
My dad did the same thing to spectrum and actually left about a month ago, told them he would wait for Google fiber to show up.
Basically they doubled our rate and my dad called saying they would do anything they could to bring it back down to the rate he wanted or he would leave, and they wouldn't, so he did. (Like 6 months later after paying the same amount he did before and refusing to pay the "late fees" they charged him.)
thro_a_wey ยท 0 points ยท Posted at 05:28:08 on March 22, 2018 ยท (Permalink)
Yeah.. I cancelled cable when I was like 15. I'm 29 now. People who actually sit on a couch and watch TV horrify me.
It's not for relaxation or a fun family get-together, it's a conscious effort to brainwash you during your time off work. This is well-known.
farkedup82 ยท -1 points ยท Posted at 00:49:21 on March 22, 2018 ยท (Permalink)
they really are Cox aren't they?
Soranos_71 ยท 27 points ยท Posted at 21:39:45 on March 21, 2018 ยท (Permalink)
You reminded me I need to do this for my gym membership. I've already fulfilled my one year contract and then I heard from a few neighbors they are paying 10 dollars less a month than I am....
justdoit526 ยท 84 points ยท Posted at 22:26:28 on March 21, 2018 ยท (Permalink)
My mom passed away two years ago and reading this just brightened my day - she used to get in those โmoodsโ occasionally too!! Lol
fatpat ยท 5 points ยท Posted at 03:19:00 on March 22, 2018 ยท (Permalink)
Sorry for your loss. Do you also get in those moods?
Todo744 ยท 7 points ยท Posted at 23:45:41 on March 21, 2018 ยท (Permalink)
I try to do this around twice a year. It's amazing some of the discounts and freebies they will throw you just for asking.
toshatnt ยท 8 points ยท Posted at 01:34:06 on March 22, 2018 ยท (Permalink)
I do this, too. I just reach a point where Iโm tired of paying whatever amount Iโve been paying and basically just call and tell them that. Itโs mind-blowing how quickly some places will lower your bill. And then sometimes I feel like a putz for not doing it sooner.
GreatRegularFlavor ยท 4 points ยท Posted at 05:07:59 on March 22, 2018 ยท (Permalink)
I would do this on a yearly basis with my internet provider since my "promo discount" would expire. It worked for the past 6 years.
I called them last week and told them I was ready to switch over to their competitor unless they could do something to keep me. I kid you not, they said something like "well, sorry to see you go." After a little of back and forth, they explained that they are so sure about their service and the price the charge that they don't feel like they need to bend the rules to keep me.
And, you know what? They were right. Cocky bastards.
x_cLOUDDEAD_x ยท 3 points ยท Posted at 02:56:05 on March 22, 2018 ยท (Permalink)
DO THIS WITH DIRECTV. They will hook you up.
Call and ask for the "retention department". Tell them you're thinking about leaving and ask for a loyalty discount. They gave me $50 off per month for 12 months recently, and encouraged me to call back every year to get more of the same. They said late January is the best time to call, but you can call anytime.
chach_86 ยท 2 points ยท Posted at 14:08:33 on March 22, 2018 ยท (Permalink)
True! When I had DirecTV it seemed like whenever I called for any reason whatsoever they gave me something free or a discount lol.
BradfromHTX ยท 2 points ยท Posted at 02:01:50 on March 22, 2018 ยท (Permalink)
Some older people have so much self control. I'd be frugal and do this all week then blow all my saving in one night out at the bar then at Denny's to cure my hangover.
RetardedChimpanzee ยท 2 points ยท Posted at 02:53:01 on March 22, 2018 ยท (Permalink)
I called my cable company Monday for the hell of it. Got an extra 100 HD channels, extra 50Mbps download for $5 less. Doesnโt hurt to try!
[deleted] ยท 2 points ยท Posted at 03:09:01 on March 22, 2018 ยท (Permalink)
Nice. I take a day off work every 6ish months to do all financial stuff like that.
The_Arkle ยท 2 points ยท Posted at 05:24:10 on March 22, 2018 ยท (Permalink)
I do this same thing. Either to get a deal or to cut in front of all the suckers waiting for Verizon support when it's work related. When the robot asks "what is the reason for your call" and I say "customer retention" in a stern voice you bet they pick up the phone right after even if they're swamped.
[deleted] ยท 2 points ยท Posted at 07:00:16 on March 22, 2018 ยท (Permalink)
I do this all the time, especially during long drives haha. I end up saving/gaining $200 ok average.
makingcookies1 ยท 1 points ยท Posted at 02:51:01 on March 22, 2018 ยท (Permalink)
How um...does your mother go about this??
chach_86 ยท 2 points ยท Posted at 16:22:15 on March 22, 2018 ยท (Permalink)
Well, my mom is a sweetheart and one of the nicest people you'd ever meet, but when it comes to stuff like this she has a certain mix of frugality, sternness, and a general disregard for the financial well-being of large companies. Usually she'll start by looking up competitors and see what special they have going on, then call and say she was going to switch if they don't lower her rate (she wasn't going to switch). They would try to appease her with extra channels or whatever fluff they could give away easily, but she would hold her ground (stern, not rude) until they either saved her a few bucks a month or said they couldn't do anything. Some times it worked, sometimes it didn't (most of the time it did).
One time about five years back she called Verizon or Comcast and told them she might be losing her job and won't be able to pay that much and they lowered it for like a year. She may have been toeing the ethical line with that one (she was worried she was going to lose her job, but my mom is a bit of a worrywort and worked for the state, so she was OK) but it worked!
pinaroseonyournose ยท 1 points ยท Posted at 03:25:38 on March 22, 2018 ยท (Permalink)
I do this with my Sirius radio in my car. I've called to "cancel" every couple months. I've been getting a discounted rate since I got my car almost 6 years ago.
chach_86 ยท 1 points ยท Posted at 14:07:43 on March 22, 2018 ยท (Permalink)
That's good to know! I'm about to take the plunge on satellite radio next month and will remember this!
cwould ยท 1 points ยท Posted at 03:38:11 on March 22, 2018 ยท (Permalink)
Do you (or your mom) have any tips on getting a better car insurance rate? I have tried calling several times and I can never get anything better. I'm also young (24) with an only 2.5 year old drivers license so I don't know if that's limiting me, but my car insurance for an '05 car is almost $200/ month and that seems ridiculous.
chach_86 ยท 2 points ยท Posted at 16:38:48 on March 22, 2018 ยท (Permalink)
I don't, but I'll ask her tonight since she's actually visiting me right now. I'll bet because of your age they won't lower it, though.
cwould ยท 1 points ยท Posted at 17:03:07 on March 22, 2018 ยท (Permalink)
I appreciate it! I'd also be glad to know if it is just my age so at least I'm not doing anything wrong and missing out on any opportunities
Bleda412 ยท 1 points ยท Posted at 07:12:30 on March 22, 2018 ยท (Permalink)
My Mom just got $60/month knocked off our plan after UPGRADING to unlimited data.
antemon ยท 1 points ยท Posted at 12:09:23 on March 22, 2018 ยท (Permalink)
to whomever's gonna try this, just make sure you aren't late on your bills.
like, seriously.
and be nice to the person on the other end of the phone.
iveseensomethings82 ยท 1 points ยท Posted at 14:36:03 on March 22, 2018 ยท (Permalink)
I get the same mood once a year. Sometimes it works.
MajorCreeep ยท 1 points ยท Posted at 16:00:16 on March 22, 2018 ยท (Permalink)
does anyone know if this works with Netflix or Hulu or Amazon prime?
ilive4saturday ยท 1 points ยท Posted at 21:49:18 on March 22, 2018 ยท (Permalink)
As an insurance agent there are limits to lowering your insurance. There's only so much we can do.
11PoseidonsKiss20 ยท 1 points ยท Posted at 01:31:36 on March 22, 2018 ยท (Permalink)
When I switched internet companies when I moved. I got s call trying to sell me on the Phone/cable bundle and I declined.
When the 3rd rep called I very sternly told him "if you call again, offering me these services I clearly don't want, I will be cancelling the service I do have with you and go with the other ISP in my area." Haven't heard from them since.
careful_corvid ยท 3801 points ยท Posted at 18:44:12 on March 21, 2018 ยท (Permalink)
I had a teacher in high school who told us to do that every year, the worst they can do is say no
NonrestrictiveBroom ยท 1660 points ยท Posted at 18:47:52 on March 21, 2018 ยท (Permalink)
Great thing for a teacher to do! More financial lessons as a whole would be great for kids
GoldenTeachMe ยท 539 points ยท Posted at 21:35:55 on March 21, 2018 ยท (Permalink)
Another great thing for a teacher to do is tell teens that Comcast sucks dick. These kids should be told that if you don't threaten to leave, they won't give you the cheapest price. And if you don't go and renegotiate before your 'deal' expires, they'll slyfully jack your price up $20-30 bucks (at least) when even the 'deal' rate feels way too much to for what you get to begin with.
Let em know
approx- ยท 123 points ยท Posted at 22:37:06 on March 21, 2018 ยท (Permalink)
Except in my area, all the other competitors suck even worse than Comcast. I would love to have Comcast at my house, but their lines end a mile from my house. Instead, I'm stuck with super expensive, somewhat unreliable microwave-transmission internet.
awesomehippie12 ยท 30 points ยท Posted at 22:39:20 on March 21, 2018 ยท (Permalink)
mmm, WISP. Who's your ISP?
notreallymetho ยท 5 points ยท Posted at 05:58:12 on March 22, 2018 ยท (Permalink)
Iโm in a similar situation in a rural town in TX. I use a provider called rise broadband https://www.risebroadband.com
We have a business acct and pay $100 a month for 15mbps down / 2.5 up.
caboosetp ยท 19 points ยท Posted at 00:20:17 on March 22, 2018 ยท (Permalink)
If you want to gamble and don't mind a half second latency, check out Hughes net satellite. Got fast as fuck in the last year. Like 30+ mb speeds, and faster when the satellites are underused.
They are very iffy on customer support though, but it sounds like you're used to that.
poisonousautumn ยท 15 points ยท Posted at 00:38:54 on March 22, 2018 ยท (Permalink)
Hughes throttles awful after 30 gigs. I mean like 512k awful. Unless something changed recently. source: was a hughes customer for 3 years.
caboosetp ยท 5 points ยท Posted at 00:48:34 on March 22, 2018 ยท (Permalink)*
Yeah, it's a soft bandwidth cap. Often it's still less harsh than the hard bandwidth caps that come on a lot of the microwave internet.
The bandwidth caps went up though in the last year. They have been launching a shit ton of their fifth* gen satellites starting last spring. If you're still at 30gb, might want to call in, I think it goes up to 50gb now
poisonousautumn ยท 3 points ยท Posted at 01:22:59 on March 22, 2018 ยท (Permalink)
Ahh ok. I left hughes last year when I moved back home. My new place has both comcast and ADSL available. Is microwave the same as Fixed Wireless?
Knoxie_89 ยท 2 points ยท Posted at 03:17:10 on March 22, 2018 ยท (Permalink)
Hughesnet, the pirates worst nightmare
dubuaska ยท 1 points ยท Posted at 12:19:19 on March 22, 2018 ยท (Permalink)
Damnit, they're all that offer service in my area โน๏ธ
Archensix ยท 3 points ยท Posted at 05:20:54 on March 22, 2018 ยท (Permalink)
Its sad that its 2018 and part of the first world gets to consider 30 mb as "fast as fuck" when most of the world gets 10x faster speeds for 10x less.
caboosetp ยท 5 points ยท Posted at 05:31:10 on March 22, 2018 ยท (Permalink)
Not when it comes to satellite. There's a huge difference between being plugged into something vs trying to bounce signals off a tiny blip 22,000 miles away.
Difference is you can get to the satellites from almost anywhere, so there's a much higher availability. If you live 5 miles out of town, that can easily cost over $30k to install a fiber line going out there. If you've only got a handful of houses, the cable companies aren't very likely to pay that. That means your availability can be extremely limited once you step outside cities. That satellite is still about 22,000 miles away though and only cares if you have a clear line of sight and is pointed in your general direction (some of them have covereage in the thousands of miles)
So when I say that 30mb/s is fast as fuck, it's relative. It's like having a golf cart that can go 65mph. That's fast as fuck for a golf cart, but that would be a terrible top speed for an average commuter car (especially in California where almost no one goes the speed limit on freeways.)
But yes, overall for internet it's pretty shitty. It's also generally a minimum a half second delay, which is pretty shitty.
Archensix ยท 3 points ยท Posted at 05:56:18 on March 22, 2018 ยท (Permalink)
Oh yeah, you're right. I guess it really does suck all that much more to live in the middle of nowhere when it comes to internet.
dweezil22 ยท 3 points ยท Posted at 17:54:03 on March 22, 2018 ยท (Permalink)
I satellite upload still basically dialup for upload? I looked into it for a friend years ago and it was like 1995 BBS speeds in terms of uploads (which, granted, a lot of people don't care too much about).
caboosetp ยท 2 points ยท Posted at 18:13:32 on March 22, 2018 ยท (Permalink)
On the gen5, it's a few mb/s when you get a good connection. So it's not as bad as dial-up.
dweezil22 ยท 2 points ยท Posted at 18:22:03 on March 22, 2018 ยท (Permalink)
So is the upload wireless now to? More like a sat phone than a landline? (if so, neat)
caboosetp ยท 2 points ยท Posted at 18:33:37 on March 22, 2018 ยท (Permalink)
Satellite is all wireless :X
I've actually never heard of the hybrid connections except as failovers, but I'd imagine it'd be labeled as both.
Many people with satellite can't get phone lines.
dweezil22 ยท 2 points ยท Posted at 18:35:49 on March 22, 2018 ยท (Permalink)
Wow, I had no idea. I have a friend that's had satellite for years and insisted it was phone upload. I wonder if he just meant "as slow as" phone upload.
spasEidolon ยท 3 points ยท Posted at 03:46:47 on March 22, 2018 ยท (Permalink)
Nice try Hughesnet employee
Source: had hughesnet for two years, was the only connection available at my house. Peak speed never topped 1Mb/s, and data was softcapped at 250MB/day. Throttled speed was 20kb/s
DarkHater ยท 5 points ยท Posted at 03:52:07 on March 22, 2018 ยท (Permalink)
Not even 4G LTE? I would not live there.
spasEidolon ยท 1 points ยท Posted at 04:19:58 on March 22, 2018 ยท (Permalink)
We're far enough out from the nearest tower that the LTE isn't that great. A local provider finally put in DSL, which is shit (768k down/256k up) but loads better than hughesnet. I've recently been looking into getting an LTE modem and a couple of fuckhueg antennas to hopefully build some sort of lightning-fast uberconnection in the attic. Hard part is finding a cheapish unlimited lte plan.
Insxnity ยท 2 points ยท Posted at 05:09:01 on March 22, 2018 ยท (Permalink)
Straight talkโs 55$ cards give you 1942GB of data (after that itโs at 2g speeds)
Not sure what the logistics are, but their services seem lenient enough that you could get it hooked up to an LTE Modem with an antenna
spasEidolon ยท 1 points ยท Posted at 06:07:44 on March 22, 2018 ยท (Permalink)
Looks like this is exactly what I've been looking for. Their service appears to autoselect carrier network (sprint and at&t are the ones that i'd be able to get out here, the modem i've been looking at doesn't support verizon). It appears to be a 'no questions asked' type of deal, which is perfect for my application.
Insxnity ยท 2 points ยท Posted at 06:16:04 on March 22, 2018 ยท (Permalink)
Aye, just make sure that your modem is able to act like a phone, per-say. I donโt know the in depth details, but some providers charge differently for hotspots.
dubuaska ยท 1 points ยท Posted at 12:20:23 on March 22, 2018 ยท (Permalink)
Could you give me an idea of where to find more info on this?
Insxnity ยท 1 points ยท Posted at 18:28:32 on March 22, 2018 ยท (Permalink)
Walmart in store
caboosetp ยท 2 points ยท Posted at 04:19:18 on March 22, 2018 ยท (Permalink)
Yeah that's part of why I opened with gamble. Some people get great speeds, other people get shit.
The worst part is you get locked in a year long contact that's hard to get out of even if you don't get decent speed.
That's what you get trying to get internet from something that's 22,000 miles away
spasEidolon ยท 2 points ยท Posted at 04:22:18 on March 22, 2018 ยท (Permalink)
No, the worst part is that even if you get decent speeds, it's expensive as hell. We were paying $80/mo for absolute dogshit. When our contract was up and we switched to DSL, we actually wound up saving ~$100/mo because no hughesnet AND the DSL bundled with our home phone.
approx- ยท 2 points ยท Posted at 15:01:50 on March 22, 2018 ยท (Permalink)
I've heard satellite is terrible for games though (ping times), and they have data caps. My current internet is up to 25 mbps, I just get frustrating lag spikes every so often, or the whole thing slows down to the point that is is hard to stream HD video sometimes.
[deleted] ยท 1 points ยท Posted at 23:40:11 on March 21, 2018 ยท (Permalink)
My only alternative is century Link... The only time I checked into them their website was so bad I assumed it was a scam. My friend got them and his costs went up and the service was worse, and they made it damn near impossible to cancel.
approx- ยท 1 points ยท Posted at 15:04:33 on March 22, 2018 ยท (Permalink)
Yeah I mean, there's certainly worse options out there for me. Century Link supposedly has DSL to my area, but the people I've talked to said don't bother. The lines are so bad that I'd be lucky to get 1 mbps on DSL here. I'll stick with the 25 mbps WISP.
littlemanCHUCKLES ยท 1 points ยท Posted at 04:22:24 on March 22, 2018 ยท (Permalink)
Me too :( fucking god awful after living in an urban area for so long with such deliciously sweet fast internet.
[deleted] ยท 1 points ยท Posted at 17:30:57 on March 22, 2018 ยท (Permalink)
same here, in my area I have two choices but the second isn't really much of a choice at all... I can either get overpriced cox internet which is up to one gigabit (gigabit costs 119 + 50 if you want unlimited data) or I can buy centurylink which is like 45 bucks for 40mbps max, really sucks, heck I wish I had the option of Comcast just cause their plans are cheaper than cox but still fast :/
approx- ยท 1 points ยท Posted at 17:44:10 on March 22, 2018 ยท (Permalink)
I would so gladly pay 169/mo for reliable gigabit right now...
I'm tempted to pay $41k to get comcast to run lines to my house, but I think my wife wouldn't agree...
[deleted] ยท 1 points ยท Posted at 17:57:28 on March 22, 2018 ยท (Permalink)
Are you in an HOA community by any chance? Perhaps they'd lower the cost and/or you can share it with others in your HOA if there are enough people willing to pay to get better internet..
approx- ยท 1 points ยท Posted at 18:20:33 on March 22, 2018 ยท (Permalink)
Nope, I'm out in the country, no HOA to speak of (thank God).
Comcast supposedly takes into account the potential future customers along the way when calculating the cost to get to my house. I've thought about talking to neighbors about splitting cost but they're mostly typical county-livers, older and not particularly interested in technology. I don't think any of them are particularly wealthy either by the looks of it.
MartMillz ยท -3 points ยท Posted at 23:51:05 on March 21, 2018 ยท (Permalink)
Move to civilization
approx- ยท 1 points ยท Posted at 15:02:26 on March 22, 2018 ยท (Permalink)
I'd like to...
[deleted] ยท 34 points ยท Posted at 02:45:18 on March 22, 2018 ยท (Permalink)
[deleted]
[deleted] ยท 12 points ยท Posted at 14:16:07 on March 22, 2018 ยท (Permalink)
[deleted]
Knoxie_89 ยท 1 points ยท Posted at 03:26:11 on March 22, 2018 ยท (Permalink)
I've done it both ways. They offer the same deal in the end. I'm not mean to the person though when I'm threatening to leave. I don't get angry at them. Threatening to leave usually require the customer service agent to start a process of keeping you on board. They just follow a guideline and need to follow it to the book in most cases.
savoy2001 ยท -1 points ยท Posted at 13:24:43 on March 22, 2018 ยท (Permalink)
So basically you're being a phony fuck to get what you need done. I got ya. It makes sense and I'm not hating on you for it just pointing out the truth. I've done it myself many times and it works or at least helps more than It doesn't. It's sounds advice.
sPOUStEe ยท 22 points ยท Posted at 00:01:42 on March 22, 2018 ยท (Permalink)
Threatened to leave here, STILL didn't give me a better price. Got FiOS when it became available, called Comcrap back and legit cancelled. When asked why, I told them how I'd called in previously and they didn't do anything for me, and that I made good on my word and bounced. I know the agent likely didn't give 2 shits, but it felt great. (Old man shakes fist in the air)
tiredmommy13 ยท 37 points ยท Posted at 23:11:31 on March 21, 2018 ยท (Permalink)
Can we just talk about Comcast for a moment?
Do they actually have โcontractsโ? Reason Iโm asking because I recently wanted to switch and they said I would be charged $250 for breaking their contract. Iโve never, ever signed anything with them which makes me feel like the rep was lying.
Does anyone know anything about this?
upinthecloudz ยท 33 points ยท Posted at 23:23:58 on March 21, 2018 ยท (Permalink)
They have different rates for no-contract and X-month terms. Depending on the plan you got you may have agreed to sign on for 0, 12 or 24 months.
It's in terms of service that you agree to electronically or have sent to your house if you order over the phone. No physical signature required if you check a box or say 'OK' into a telephone.
sPOUStEe ยท 6 points ยท Posted at 00:05:30 on March 22, 2018 ยท (Permalink)
Comment for thread OP: Yup. Keep in mind that the ETF is prorated every month you get closer to the end date, and that if you were to switch, your new provider might agree to give you the ETF you had to pay as a credit (Verizon did here).
ChrisRunsTheWorld ยท 2 points ยท Posted at 03:29:55 on March 22, 2018 ยท (Permalink)
They do have term agreements as well as no-contract agreements. I'm a little confused because in your other post, you said about two years ago...they made you sign another two year agreement. Does that mean you're almost up (and would have no ETF)?
If not, you should be able to get out without paying the fee. If you are under a contract that has an ETF, you should be able to call them up and tell them you want to change your plan. Add or remove something, depending on what you have currently, or change your internet speed or # of channels or something. But make sure you are clear that you want to change to a plan with no term agreement. It'll be a higher rate than if you agree to extend again, but you're gonna cancel anyway. I'd wait a few days, and then call to cancel.
gotenks1897 ยท 1 points ยท Posted at 00:24:10 on March 22, 2018 ยท (Permalink)
I've dealt with this shit before with a few companies but mainly ATT. You will have to keep calling and insisting that you never agreed to a contract and did not want one. Their main goal is to wait you out, but eventually it won't be worth the hassle for them and they will void any cancellation fees. In my case though there wasn't even verbal agreement so YMMV.
tiredmommy13 ยท 2 points ยท Posted at 00:42:06 on March 22, 2018 ยท (Permalink)
OP on this thread here. Hereโs what happened:
About 2 years ago we decide to sign up for their home security monitoring/ cameras. The Comcast installer never shows up. We called, they say he canโt come back for a week so we said forget it. A few weeks rolls by and I log in to pay my bill. Sure as shit they charged me for the equipment, install fees and managed to double my monthly dues on top of all that. I call back to see what happened, and of course they canโt give me back my original package. They have to delete everything and start over, which apparently means Iโve extended my contact for another 2 years.
Bunch of BS.
gotenks1897 ยท 2 points ยท Posted at 00:54:47 on March 22, 2018 ยท (Permalink)
Does this mean you have been paying them for 2 years with no actual security? It may be a bit late for you to bother if the contract is almost up now anyways. But for me I had a contract at one point that ran out after one year (had service for almost 3). Called them up asking for cheaper service (tv/internet) over the course of about a week asking for a special price they were doing at the time. Contracts or service agreements were never made but I got the deal. A few months later I call up decided that I no longer wanted the TV package and only wanted the internet.
That's when I was informed of some supposed contract. took about a week and a half of calling and insisting that I never agreed to any contract or service agreement and they finally resigned and agreed to cancel the cable portion of my "contract".
Best part is, the internet portion was about half price of any competitor and I decided to not fight the contract part of that so I have decent internet for $30/mo.
TLDR: be a pest, they want you to cave and just pay. But it's not worth it if you soak up call times/dollars
GNUtoReddit ยท 1 points ยท Posted at 00:35:48 on March 22, 2018 ยท (Permalink)
Business class..you're stuck. So glad to have att fiber now
BrewerBeer ยท 1 points ยท Posted at 01:54:54 on March 22, 2018 ยท (Permalink)
Yes they have contracts. I didn't cancel my service in the first 30 days, I had to pay $10/mo left on my contract to break it. 60$ for the last 6 months.
PeePeeChucklepants ยท 1 points ยท Posted at 04:37:22 on March 22, 2018 ยท (Permalink)
I believe... You can legally break the contract with no penalties if you are moving to an area where they do not offer a service transfer however.
They may check the ZIP code to confirm whether they do or do not, but it may be a possibility if you call in and tell them that is the case, and have an area picked out where you are "moving" to...
The_Jmoney_420 ยท 2 points ยท Posted at 01:22:05 on March 22, 2018 ยท (Permalink)
Literally having to deal with their bullshit right now, and I've only been a customer for 5 days.
Was told I would get free installation and what do you know, first bill has a $60 installation fee. I asked the rep that signed me up multiple times, was even put on hold to confirm.
Now heres the problem, the rep 'verified' my services through an email, which had the installation fee on it, but I was told it would be taken off after the fact... which is the only reason I agreed to that verification. But now, because I agreed to that verification, Im being told the charge is valid. They offered to take $30 off, I told them to pull the call where I set up my services. I have not heard back from them yet.
If they try telling me that the installation fee wasn't discussed or the agent didn't say that the fee would be removed, can I request a copy of the audio? Because I am 100% certain I brought it up multiple times.
Knoxie_89 ยท 2 points ยท Posted at 03:23:33 on March 22, 2018 ยท (Permalink)
"this is xyz with Comcast, this conversation is being recorded, how may I help you"
You: I'm recording too, I need xyz.
Little late now but call their bluff. Tell them you have the recording of the call and that you'll take them to court if needed.
skyboundzuri ยท 2 points ยท Posted at 04:09:33 on March 22, 2018 ยท (Permalink)
I moved here 4 years ago from a city with multiple choices for internet, to a medium-sized town where my broadband choices were either Comcast at 100mbps max, or CenturyLink at 2mbps max. This area used to be Qwest, and when CenturyLink bought them in like 2006 or something, they never upgraded any former Qwest areas (maybe because they don't want to compete with Comcast?).
I signed on at $59.99/mo, but my promo expired and the price kept going up. At one point it was $112/mo just for my 50mbps internet and the smallest TV package possible for a cable box that isn't even plugged in because I don't use it. (For some reason if I don't bundle it with TV, the price goes up.)
A reddit thread a couple of years ago encouraged this same advice - call and threaten to cancel. That's exactly what I did. I have to call them every November when they try to raise the price again, but at the moment, my monthly bill is $62.21 - only about 2 dollars more than when I first moved here. :)
So yes, it works. Try it! You have to be convincing, though. I like to tell them that I'm a light internet user who mostly uses the internet with the data connection on my phone, and if that's only $45 a month, why would I give Comcast twice that much?
Astrobody ยท 1 points ยท Posted at 23:39:09 on March 21, 2018 ยท (Permalink)
In my area you can have Comcast without a contract, it costs like $10-$20/mo more than if you got a 2 year contract, but its nice having the option to just stop your service if youre done with their crap.
sPOUStEe ยท 1 points ยท Posted at 00:09:22 on March 22, 2018 ยท (Permalink)
Some providers will give you credit if the provider you're leaving hits you with an ETF. For $120-240, it seems worth checking with alternative providers and signing up for the contract. There's a risk the new provider's policy will change if you ever actually DO switch, but a couple hundred bucks seems worth that risk. Oh also, the ETF fee decreases each month you stay on the contract, so the risk keeps getting lower...
irishman178 ยท 1 points ยท Posted at 23:40:05 on March 21, 2018 ยท (Permalink)
I do that with Sirius too. I call about a week before my subscription is up, and say I'm cancelling because it's too expensive. They throw a bunch of crap off out, until I get 6 mths/$30. For that price I'll keep it, they've done it twice so far. Worse that happens is I cancel
Knoxie_89 ยท 2 points ยท Posted at 03:21:28 on March 22, 2018 ยท (Permalink)
I did that with them for over 3 years. Called every 6 months or w.e the term was. Sometimes they give me 4 for $15. I got tired of calling though and work from home now so I finally told them to kick rocks for my car. Still paying them and doing the dance for my wife's car though...
MetalKid007 ยท 1 points ยท Posted at 23:40:17 on March 21, 2018 ยท (Permalink)
If Comcast sucks sick, that might encourage more use...?
mycleanSN ยท 1 points ยท Posted at 23:58:14 on March 21, 2018 ยท (Permalink)
Youtube TV is baller!
BrewerBeer ยท 1 points ยท Posted at 01:52:00 on March 22, 2018 ยท (Permalink)
Another service in my area offered gigabit speeds for cheaper than Comcasts best service of 250up/10down. Was paying 130(after fees) from comcast, now paying 95/mo. Though i did have cable/internet from comcast and only internet through my new service. But that sounds terrible to call gigabit service "only."
Tribbledorf ยท 25 points ยท Posted at 00:01:00 on March 22, 2018 ยท (Permalink)
Seriously. Balancing a checkbook, monitoring your credit, and basic insurance knowledge should be an absolute requirement in school.
annul ยท 23 points ยท Posted at 01:12:23 on March 22, 2018 ยท (Permalink)
lol
Tribbledorf ยท 3 points ยท Posted at 02:23:35 on March 22, 2018 ยท (Permalink)
I guess I should say managing a checking account. Either way, plenty of people still use checks. ยฏ\_(ใ)_/ยฏ
trucido614 ยท 1 points ยท Posted at 17:59:33 on March 22, 2018 ยท (Permalink)
Maybe "Budgeting" should be taught.
TeacherDM ยท 8 points ยท Posted at 00:52:48 on March 22, 2018 ยท (Permalink)
Yeah remeber everything you learned freshmen year of math? remember your motivation and work ethic as a high schooler? Kids are NOT interested in learning this as much as you tell them its useful. No kid is going to sit and do those things. Maybe parents should teach something at home instead of relying completely on schools to babysit their children.
wambam17 ยท 4 points ยท Posted at 05:37:17 on March 22, 2018 ยท (Permalink)
Hell yeah, its getting a bit ridiculous with these posts talking about schools teaching this and that. If these kids can stare at their phones for 23 hours a day, they are more than capable of looking up proper money management once the time is right.
i.e. you are going to buy a car? Look up interest rates before you walk into the dealership. Just gotta type "things to watch out for at dealership reddit" and you'll probably find hundreds of great advising comments. No excuses anymore.
Thundergawker ยท 2 points ยท Posted at 00:59:35 on March 22, 2018 ยท (Permalink)
confirmed. I am learning this in high right now and I don't give a fraction of a fuck.
JustWhatWeNeeded ยท 2 points ยท Posted at 01:14:52 on March 22, 2018 ยท (Permalink)
Can't blame you. Source: former high schooler
[deleted] ยท 0 points ยท Posted at 00:43:14 on March 22, 2018 ยท (Permalink)*
[removed]
m0okz ยท 1 points ยท Posted at 00:45:04 on March 22, 2018 ยท (Permalink)
Why?
Tribbledorf ยท 0 points ยท Posted at 02:26:54 on March 22, 2018 ยท (Permalink)
I disagree. So many people go into debt when they're still under 20. Especially credit card debt. Personal finance would have made a big difference to me at least. Like most people I learned the hard way and spent years digging myself out of a financial hole that I dug myself into in my 20's.
[deleted] ยท -2 points ยท Posted at 02:31:12 on March 22, 2018 ยท (Permalink)
[deleted]
Tribbledorf ยท 2 points ยท Posted at 02:39:47 on March 22, 2018 ยท (Permalink)
I feel like you're just using this as your soapbox to trash talk public schools? You know downvotes are for people that you feel didn't contribute to the discussion right?
[deleted] ยท 0 points ยท Posted at 02:43:19 on March 22, 2018 ยท (Permalink)
[deleted]
Tribbledorf ยท 2 points ยท Posted at 03:10:13 on March 22, 2018 ยท (Permalink)
Yes well, I guess if you're someone that can afford private schools that's a valid opinion.
T-MinusGiraffe ยท 0 points ยท Posted at 02:21:54 on March 22, 2018 ยท (Permalink)
You sound as if you think the government that runs our schools doesn't doesn't want us all in debt.
Higgs_deGrasse_Boson ยท 1 points ยท Posted at 00:28:13 on March 22, 2018 ยท (Permalink)
I know that's the job of our parents to ready us for adulthood, but so many kids have parents who have their own shit going on who can't focus on these types of life lessons. My parents were always poor and as a young adult I'm still learning the value of money. No one in my required personal finance really drove home just how much credit can define an adult life in the US.
Zachincool ยท 1 points ยท Posted at 01:02:33 on March 22, 2018 ยท (Permalink)
Ikr. Why the hell don't schools teach about money?
soulcaptain ยท 1 points ยท Posted at 12:45:08 on March 22, 2018 ยท (Permalink)
Personal Finance should be a full subject taught in high school. Taxes, paychecks, savings, banks, loans, etc. Teachers would be trained in financial matters; economics/business graduates would be ideal for the job.
One_Big_Pile_Of_Shit ยท 1 points ยท Posted at 19:18:02 on March 22, 2018 ยท (Permalink)
We had a financial math class for seniors who sucked at math. Too bad it was just watching Dave Ramsey videos.
lanebreaker3 ยท -120 points ยท Posted at 20:07:39 on March 21, 2018 ยท (Permalink)
The best thing for a teacher to do is to tell their students to not borrow money.
saurom1345 ยท 97 points ยท Posted at 20:44:19 on March 21, 2018 ยท (Permalink)
No. Borrowing money is almost a certainty this day in age. Whether itโs college, a home, or most cars at some point you will need to borrow money. Teaching them how to do it the right way and how to be most efficient in borrowing and paying it back is the best way to teach this. The worst that happens is the student doesnโt need it but for 99% of students it is the one thing they will learn in high school that they will use for the rest of their lives.
MandingoPants ยท 9 points ยท Posted at 22:39:42 on March 21, 2018 ยท (Permalink)
Like teaching about safe sex as opposed to abstinence.
hawtp0ckets ยท 45 points ยท Posted at 20:47:18 on March 21, 2018 ยท (Permalink)
Um, what? How on Earth can you improve your credit score if you never borrow money?
The important part of borrowing money is that you need to pay it back, but borrowing money isn't bad at all.
thelaminatedboss ยท 33 points ยท Posted at 21:08:07 on March 21, 2018 ยท (Permalink)
If you never borrow money you don't need to improve your credit scroe cause you'll never need it. That's not realistic though.
hawtp0ckets ยท 21 points ยท Posted at 21:11:27 on March 21, 2018 ยท (Permalink)
Right, in a perfect, credit score-less world that would be how things worked. But sadly things are so messed up in the US with credit. I hate how our system works!
CNLSanders ยท 18 points ยท Posted at 21:18:17 on March 21, 2018 ยท (Permalink)*
Without credit most people wouldn't be able to buy homes or cars. Very rarely do people have the liquid cash to pay for those. Credit score is just a reliability indicator on your ability to pay back loans.
hawtp0ckets ยท 10 points ยท Posted at 21:19:36 on March 21, 2018 ยท (Permalink)
I don't think credit is bad. I think our credit score system in place in the US is bad.
NoirGreyson ยท 5 points ยท Posted at 21:46:49 on March 21, 2018 ยท (Permalink)
Could be worse. China's credit score system is also a citizen score. Consuming imports and even being friends with the wrong people negatively impacts your score.
hawtp0ckets ยท 3 points ยท Posted at 22:00:25 on March 21, 2018 ยท (Permalink)
I've been reading about that! It's terrifying. So similar to the Black Mirror episode with Bryce Dallas Howard...
NoirGreyson ยท 2 points ยท Posted at 22:17:20 on March 21, 2018 ยท (Permalink)
That episode was probably based on this system
trulymadlybigly ยท 1 points ยท Posted at 01:11:22 on March 22, 2018 ยท (Permalink)
What??
NoirGreyson ยท 1 points ยท Posted at 01:19:53 on March 22, 2018 ยท (Permalink)
Yep, search Sesame Credit
thelaminatedboss ยท 2 points ยท Posted at 22:51:17 on March 21, 2018 ยท (Permalink)
How could it be better? Realistically? Without just being good for people who don't pay and bad for companies
PerennialPhilosopher ยท 1 points ยท Posted at 23:16:11 on March 21, 2018 ยท (Permalink)
Aka garages.
CNLSanders ยท 2 points ยท Posted at 02:12:09 on March 22, 2018 ยท (Permalink)
Must have fat fingered the f.
thelaminatedboss ยท 0 points ยท Posted at 21:12:15 on March 21, 2018 ยท (Permalink)
How is it "messed up"
hawtp0ckets ยท 9 points ยท Posted at 21:18:21 on March 21, 2018 ยท (Permalink)
What if you're applying for an apartment? You have a low credit score because you've never established credit. So you can't get an apartment.
That's messed up.
[deleted] ยท 10 points ยท Posted at 21:21:48 on March 21, 2018 ยท (Permalink)
And some employers are looking at credit scores for certain jobs and your car insurance can be higher for a lower OR non existent credit score. Seen that all happen.
CirqueKid ยท 3 points ยท Posted at 22:11:11 on March 21, 2018 ยท (Permalink)
YMMV but I donโt use credit and just showed them proof of income and told them Iโd double my security deposit because I had enough in savings to do so. I get it back at the end and they felt better about renting.
Obviously this doesnโt apply at every place but I donโt need to rent everywhere just one place that fits for me.
[deleted] ยท 1 points ยท Posted at 22:34:45 on March 21, 2018 ยท (Permalink)
Good luck renting an apartment
ZachPutland ยท 1 points ยท Posted at 22:10:30 on March 21, 2018 ยท (Permalink)
By having lines of credit and showing that you don't need their money. How much higher credit does borrowing money give over doing that?
[deleted] ยท -1 points ยท Posted at 21:40:37 on March 21, 2018 ยท (Permalink)
Don't borrow money to improve your credit score.
hawtp0ckets ยท 0 points ยท Posted at 21:42:27 on March 21, 2018 ยท (Permalink)
Well I don't need to borrow money for any other reason, so how else am I supposed to improve my credit score?
darkrider400 ยท 1 points ยท Posted at 21:48:15 on March 21, 2018 ยท (Permalink)
I mean, my situation is just that Im paying off student loans, which helps my credit score since Im always on time and havent missed a payment. But literally any time you purchase something with a credit card and pay it off later on time and in full, itll up your credit score.
hawtp0ckets ยท 1 points ยท Posted at 22:01:21 on March 21, 2018 ยท (Permalink)
Right, but you have to borrow money to do this. Same with student loans. I'm asking how you can improve your credit score without borrowing any money.
long_meats ยท 1 points ยท Posted at 01:54:13 on March 22, 2018 ยท (Permalink)
If you have never opened up a credit card or took out a loan before, then you likely don't have a credit score. The easiest way to achieve a high credit score so you're prepared for the future would be to start by opening up a secured credit card. You'll probably have to pay a deposit that you'll get back whenever you close the card, but after using that card for a few months to purchase whatever you normally use a debit card for, you can apply for another unsecured card with a higher credit limit and rewards, which is basically free money. Use both cards for another few months and then apply for a third card with an even higher credit limit and more reward options. As long as you treat the credit cards the same as you do debit cards and pay the entire balance before it's due (I personally check and pay them off almost daily so I always know how much I have in my bank account), then you'll never have to pay interest. Having a credit card is also much safer for the fraud protection since if there's fraud charges on a credit card, it's the bank's problem and not yours. I basically just described exactly what I did and went from a starting score of 686 last June, which went up to 726 currently and should be much higher by the time I ever need to use it.
ZachPutland ยท 1 points ยท Posted at 22:11:39 on March 21, 2018 ยท (Permalink)
Friendly reminder that satisfying your loan will reduce your credit score
[deleted] ยท 22 points ยท Posted at 20:43:01 on March 21, 2018 ยท (Permalink)
As it is today, one needs credit to do anything. The best thing you can do is borrow and return reliably
Austin_RC246 ยท 8 points ยท Posted at 21:14:40 on March 21, 2018 ยท (Permalink)
Yeah, because they should live in a box until they save a couple hundred grand for a house.
gdq0 ยท 4 points ยท Posted at 21:41:08 on March 21, 2018 ยท (Permalink)
Everyone is downvoting you and for that I'm sorry. The best thing for a teacher to do is to tell their students not to borrow money on a credit card by paying it off in full every month. Other forms of loans are typically just fine, and usually at a sane 3-5%.
DaleLaTrend ยท 1 points ยท Posted at 21:54:58 on March 21, 2018 ยท (Permalink)
That is borrowing, just short term.
Lodger79 ยท 7 points ยท Posted at 21:28:16 on March 21, 2018 ยท (Permalink)
We should tell our kids the best form of birth control is to not have sex then, too.
NigelS75 ยท 4 points ยท Posted at 21:34:15 on March 21, 2018 ยท (Permalink)
Some people try.. never works though.
lanebreaker3 ยท 0 points ยท Posted at 22:53:38 on March 21, 2018 ยท (Permalink)
By all means, keep going into debt! I'm not stopping you, buddy.
PeterMus ยท 3 points ยท Posted at 21:12:18 on March 21, 2018 ยท (Permalink)
That's terrible advice. I mean absolutely awful.
Borrowing money is extremely important for many people.
No one should run up a bill for fun, but everything from car loans to student loans help you in the real world and pay massive dividends.
ZachPutland ยท 1 points ยท Posted at 22:17:38 on March 21, 2018 ยท (Permalink)
I don't think teaching kids that student loans are a bad idea is a bad thing. There is a stupid amount of unemployment with college graduates and for some degrees the amount of debt they accrue just isn't worth the boost they get from the degree. Trade schools are a great option for many people, and in a lot of industries where a person has to work with their hands, experience is more valuable than a degree.
Just pulling numbers out of thin air but if Joe goes to college for electrical engineering, that's $40,000 a year for 4 years including interest on his student loans. If he instead went to trade school for a year let's say that's $30,000 and then he starts as an electrician making $30,000 a year. In 4 years he can either have $60,000 and 3 years of experience was an electrician, or $160,000 in debt and no experience, where he is less desirable for hire
PeterMus ยท 2 points ยท Posted at 22:31:57 on March 21, 2018 ยท (Permalink)
Avoiding maximizing your student loans certainly has plenty of merit.
I went to a community College, then to a good state school. My student loans only hit 20K. It's a wise choice for anyone going to school. Not everyone chooses an absurdly expensive private school without any loans.
The real cost of college is typically a fraction of the advertised cost. My university was going to cost 15K/year but I ended up with a scholarship for 10k/year.
Meanwhile I know several people who left community colleges to go into trades like being an electrician.
A shortage of work over the last few years meant their apprenticeships went from 2 years to 4 years to get their needed hours.
Now they're still making less than I do several years later. I was a history major.
College is still a great investment. The unemployment rate among college graduates and their median income is still very, very strong.
I just enrolled in Graduate School because I want to increase my options and I have the ability to dramatically increase my salary. The student loans are an investment.
DaleLaTrend ยท 0 points ยท Posted at 21:54:28 on March 21, 2018 ยท (Permalink)
You don't strictly need an expensive car.
Stuntz ยท 1 points ยท Posted at 22:00:48 on March 21, 2018 ยท (Permalink)
Borrowing money only hurts you if you don't understand how to use it to your advantage. Credit takes responsibility but can be powerful and helpful.
mces97 ยท 86 points ยท Posted at 22:18:05 on March 21, 2018 ยท (Permalink)
My parents used to transfer their balances to other cards for 0% for 12, 18 months. But you gotta be responsible and make the payments on time. If you miss just one you get hit with like 25% or more interest.
shizu_murasaki ยท 58 points ยท Posted at 22:34:22 on March 21, 2018 ยท (Permalink)
Dat balance transfer fee, though. 3% adds up. But it's still better than paying interest.
mces97 ยท 20 points ยท Posted at 22:50:11 on March 21, 2018 ยท (Permalink)
I'm not sure what other fees were involved. But my parents never missed any bills in their life, so I assume they knew what they were doing. And I pay my credit cards off each month, so I never read all the fine print with balance transfers.
shizu_murasaki ยท 10 points ยท Posted at 23:26:08 on March 21, 2018 ยท (Permalink)
Fair point! I saved myself from a ton of interest that same way back when I was digging myself out of a few years of financial instability.
TwistedRonin ยท 3 points ยท Posted at 23:26:44 on March 21, 2018 ยท (Permalink)
Eh, It's possible they were doing it on cards that had a $0 transfer fee. Those offers still pop up every now and then, but they're not as prevalent as they once were (buddy of my father's managed to build a house using those offers).
mces97 ยท 2 points ยท Posted at 23:29:32 on March 21, 2018 ยท (Permalink)
Yeah. I was too young to really understand what they were doing but I overhead the phone calls they made.
Phillip__Fry ยท 2 points ยท Posted at 03:31:25 on March 22, 2018 ยท (Permalink)*
Those are really common for NEW cards but not for existing cards. New card offers are wasted on balance transfers because the opportunity cost is much higher than the 2-3% fee you're "saving". I've made out with $500-$1000+ on opening bonuses on all my recent credit cards. Usually it's either a large opening spend bonus OR a good BT offer on new cards
Phillip__Fry ยท 3 points ยท Posted at 03:28:32 on March 22, 2018 ยท (Permalink)
I pay 2% fee to Chase for 12 months @ 0% to a checking account deposit. Figuring in a little slack for transfers (although my bank makes the funds available immediately and I transfer out of checking next day..... whether it's a $5k CC check or a $16k one), works out to about 2.2% APR. That's a little better than my current margin rates at brokerage, and those are increasing as rates go up. (2% on over $100k margin loan, 2.25% blended rate. But increasing by 0.25% tomorrow..).
Plus the Chase cards I use are business cards so the 95% balance vs credit on those cards doesn't even affect my credit score.
spinollama ยท 5 points ยท Posted at 01:40:57 on March 22, 2018 ยท (Permalink)
3% of 5000 is $150. $150 once a year or every 18 months is amazing compared to paying like 20+% APR
2unlit2quit ยท 2 points ยท Posted at 00:05:01 on March 22, 2018 ยท (Permalink)
My credit union (DCU) doesn't have most fees like that.
duxduxduxgoose ยท 2 points ยท Posted at 15:03:58 on March 22, 2018 ยท (Permalink)
Plenty of cards out there with introductory 0% transfer balance fees out there...if you have the credit to qualify for them.
0116316 ยท 1 points ยท Posted at 06:53:26 on March 22, 2018 ยท (Permalink)
There are cards that have no transfer fees. American Express has a nice one with 15 months no interest on purchases and transfers.
nathreed ยท 1 points ยท Posted at 11:04:07 on March 22, 2018 ยท (Permalink)
If they only do it once every 12-18months, they might be making a better return than that by having the money they would have used to pay it invested. Like if theyโre making a 6-7% return, 3% a year on the balances actually makes sense.
TheElbow ยท 2 points ยท Posted at 22:37:56 on March 21, 2018 ยท (Permalink)
I've done this before to finance some housing projects that needed to get done. Having a plan is key!
eNaRDe ยท 2 points ยท Posted at 23:20:29 on March 21, 2018 ยท (Permalink)
I heard this hurts your credit though? It's easy to spot when someone does this so the credit bureau flags a person's credit real quick and lowers their score. Anyone can confirm this is true?
mces97 ยท 2 points ยท Posted at 23:24:25 on March 21, 2018 ยท (Permalink)
Not sure. Why would that hurt your credit though? As long as you pay the bills on time isn't that a good thing? My parents didn't open new cards. Just transfered balances.
SludgeFactory20 ยท 1 points ยท Posted at 01:20:43 on March 22, 2018 ยท (Permalink)*
According to my Capital One app with Creditwise transferring credit card balances lowers credit score.
I have a 812 right now and transferring 1,000 dollars to another card it says my score will drop to about 735. 20,000 only drops it to 722 so it doesn't seem like it's the amount but more the act of doing it.
Edit: This is assuming I open a new card to transfer it to.
spinollama ยท 2 points ยท Posted at 01:43:12 on March 22, 2018 ยท (Permalink)
I transfer balances annually, I've never had a drop (unless the second card reported the increased balance before the first card reported the decreased balance, and even then it was like, 5 points). I don't understand how they would KNOW if you transferred a balance -- it just shows the same as a payment for me.
SludgeFactory20 ยท 1 points ยท Posted at 01:56:19 on March 22, 2018 ยท (Permalink)
Hmm I don't know. Just saying what my app says.
whenigetoutofhere ยท 2 points ยท Posted at 03:31:30 on March 22, 2018 ยท (Permalink)*
If it's calculating you opening a new credit card to make the transfer, yes that's going to impact your credit score a lot. The other person was talking about transferring between existing accounts. That isn't going to have any large effect.
TheGlennDavid ยท 1 points ยท Posted at 04:13:21 on March 22, 2018 ยท (Permalink)
A 70 point drop for opening a single card is unlikely.... I open several a year and the drop is usually small and temporary.
Due to timing issues a balance transfer can make your utilization rate appear higher than it really is, but this clears itself up in a month or so.
whenigetoutofhere ยท 1 points ยท Posted at 04:37:45 on March 22, 2018 ยท (Permalink)
Not out of the question if they have their entire credit history on one card and opening a new one would drop average age of accounts drastically. Still 70 is steep, I agree.
TheGlennDavid ยท 1 points ยท Posted at 14:24:10 on March 22, 2018 ยท (Permalink)
That's a fair point.
I'll add (very much an opinion) that if his entire history is one card and he isn't planning to buy a house in the next ear or two it would be probably be in his interest to bulk up his history.
A larger number of cards will (long term) provide a more stable "age of account" and keep utilization rates down.
A friend of mine thought he was doing well by having a single card with a $500 limit on it that he paid down monthly. The problem was that the reported balance is the current balance and not the carried one, so his utilization rates were generally stupidly high despite the fact that he owed virtually nothing at any given time and never carried a balance.
whenigetoutofhere ยท 1 points ยท Posted at 15:57:11 on March 22, 2018 ยท (Permalink)
Agree 100%!
I generally find the whole credit reporting racket to be absolutely bonkers, but it's what we've got right now, and if you want to take advantage of it the best you can, you gotta play the game a little. Of course, there's no harm in picking up some extra cash along the way with some signup bonuses on the cards, assuming you aren't spending more than you would otherwise or tempted to use up available credit in the future, and that it's still a manageable number of accounts to keep track of.
SludgeFactory20 ยท 1 points ยท Posted at 04:46:54 on March 22, 2018 ยท (Permalink)
App says if I open up a card with a dollar balance my score will go up by 1 point. 10 dollars it will go down by 3 points. 100 it will go down by 3 points. 1000 it will go down by 3 points.
I think the dollar thing glitched it. Opening a 20k doesn't affect my credit score, and anything above it will actually make my score go up.
But yeah I don't think opening a new credit card will drop me 70 points.
I wonder how long it have to have that new card before I can transfer a balance over to it without taking a point penalty.
SludgeFactory20 ยท 1 points ยท Posted at 04:20:29 on March 22, 2018 ยท (Permalink)
There's not much benefits to transfer balances to an existing card though. Unless you're highest cash reward card has the highest APR because you should just use that card to begin with and not worry about transferring.
Most of the time to get 0% APR for 12/18 months it has to be a new card. Especially for people that leave balances on cards. Someone that doesn't pay interest they are more prone to give 0% because they don't lose any potential interest and encourage spending which means more %fee from stores.
Usually when you're transferring balances yours digging yourself in a lot of debt and not a good idea.
whenigetoutofhere ยท 1 points ยท Posted at 04:40:11 on March 22, 2018 ยท (Permalink)
I get loads of balance transfer offers; between my three cards, I get a one every month or two. Obviously not carrying balances is best, but if you can save interest on an existing balance, that's only a positive.
SludgeFactory20 ยท 1 points ยท Posted at 05:48:36 on March 22, 2018 ยท (Permalink)
Why don't you just use your card with the lowest APR to begin with if you're going to have a balance remaining?
whenigetoutofhere ยท 1 points ยท Posted at 13:15:35 on March 22, 2018 ยท (Permalink)
0% is the lowest APR in this hypothetical. If little Timmy needs to go to the ER and your emergency fund is already drained, charging it and transferring to a 0% offer is probably your best bet, even if you do pay a 2 or 3% fee to transfer it.
Again, it's always best to not carry a balance to begin with, but if that's the situation you're starting in, a balance transfer to an existing card is likely your best next step.
SludgeFactory20 ยท 1 points ยท Posted at 15:51:05 on March 22, 2018 ยท (Permalink)
Your emergency fund I assume is your savings account. Now why would you take a 2 or 3% fee to transfer it when you could have just used that card to begin with?
whenigetoutofhere ยท 1 points ยท Posted at 16:10:58 on March 22, 2018 ยท (Permalink)*
Great question :) If you do have a card that offers 0% on purchases for long enough to pay it down, by all means, take advantage of that. Unfortunately, few cards have ongoing 0% offers on purchases. However, most cards do offer periodic transfer offers for existing balances. The logic is to charge it to card A, use a transfer offer on card B to move the balance before you're charged interest on card A, and aim to pay it off within the promotional period.
This scenario assumes a few things:
1) As stated prior, the savings account holding your emergency fund has been zeroed out by prior emergencies.
2) You have a good credit history with at least two cards with high enough limits to cover the charge.
3) You receive regular balance transfer offers and know that you can transfer the balance before the interest kicks in.
4) You don't have any better options available (a HELoC, luxury items to sell, etc.)
In case I haven't been clear to this point, balance transfers are not a one-size-fits-all solution, and they're generally best used sparingly to fix a current problem in less-than-ideal situations. Best to think of them as a specialty tool in your financial toolbox.
JayCreations ยท 1 points ยท Posted at 04:23:08 on March 22, 2018 ยท (Permalink)
I believe that the drop is because they assume that you will be opening a new card in order to get a balance transfer offer. If you get an offer on an existing card then it shouldn't affect it.
I've done it before and haven't seen a negative impact. I just did it this week and I'll monitor my score to see how it affects it.
SludgeFactory20 ยท 1 points ยท Posted at 04:35:58 on March 22, 2018 ยท (Permalink)
Yeah I'm pretty sure that it is assuming I'm opening a new card
spinollama ยท 1 points ยท Posted at 01:43:35 on March 22, 2018 ยท (Permalink)
I've never had my credit drop doing this.
Annabel398 ยท 1 points ยท Posted at 12:30:30 on March 22, 2018 ยท (Permalink)
Not true. Look on your full credit report for APR (hint: itโs not there).
Llohr ยท 2 points ยท Posted at 13:47:59 on March 22, 2018 ยท (Permalink)
Much much better to not carry a balance. The key is to remember that if you're spending more on a CC than you can pay at the end of the month, your CC debt will accumulate. Eventually you're so far behind that catching up seems impossible.
ZiggyZig1 ยท 1 points ยท Posted at 02:37:46 on March 22, 2018 ยท (Permalink)
this didnt make sense to me. can you expand?
mces97 ยท 1 points ยท Posted at 03:41:50 on March 22, 2018 ยท (Permalink)
Lets say you have card A with balance of $10,000.00. Card B will offer to transfer the balance to them, essentially paying card A off. Then card B will offer you 0% interest for so many months, maybe 12-18 months. You have to make the minimum payment each month or you get a very big interest rate, which I believe starts from the original transfer date. So if you miss a payment, its worst than just staying with card A. But if you make all the payments, you pay 10,000 dollars. No more, because 0% interest. Got it?
RandyPoostain ยท 1 points ยท Posted at 13:17:13 on March 22, 2018 ยท (Permalink)
Been doing this for 10 years now. I'm in a constant state of debt, but never pay an interest. Just a balance transfer % every 12/18 months
917BK ยท 81 points ยท Posted at 00:04:15 on March 22, 2018 ยท (Permalink)
I asked Bank of America once, and they cut my credit limit instead.
Awhtreprenoober ยท 47 points ยท Posted at 01:23:39 on March 22, 2018 ยท (Permalink)
I'm only laughing my ass off at this because I had the same exact experience with BoA in November
BirdLawyerPerson ยท 5 points ยท Posted at 13:34:04 on March 22, 2018 ยท (Permalink)
"This guy is asking us for something. He must be financially strapped, and is therefore a credit risk."
eat_thecake_annamae ยท 38 points ยท Posted at 00:59:53 on March 22, 2018 ยท (Permalink)
The hell
917BK ยท 11 points ยท Posted at 02:03:11 on March 22, 2018 ยท (Permalink)
Yeah, I closed my account soon after and will never do business with them again. It was right at the height of the 08/09 recession too.
Loxcam ยท 9 points ยท Posted at 09:40:16 on March 22, 2018 ยท (Permalink)
BofA is the fucking worst. I had an account with them for 3 years. Used the card very very rarely til one year I used it as my primary rewards card. Next year I change to another with a better rewards program.
Not even 7 months later BofA closes my account. I was never late, never missed a payment, nothing. When I got notified of the credit hit due to an account closing, and called them they told me it was due to inactivity.
The asshat rep even told me they could sign me up for a new account, and I just laughed at her. They lost my business forever.
welchplug ยท -1 points ยท Posted at 10:28:41 on March 22, 2018 ยท (Permalink)*
Every credit card does this that doesn't have an yearly fee.
Edit: love how a simple Google search proves me correct yet people are still upset by reality. Guess that's why credit is in the high 700s... idk what I'm doing and know nothing on the subject....
Annabel398 ยท 10 points ยท Posted at 12:38:12 on March 22, 2018 ยท (Permalink)
Not true at all. I have at least eight cards that I havenโt used for over a year. All still open, all in good standing.
welchplug ยท 1 points ยท Posted at 19:55:33 on March 22, 2018 ยท (Permalink)
Yep and a you have another year tops
detroitdoesntsuckbad ยท 20 points ยท Posted at 01:44:39 on March 22, 2018 ยท (Permalink)
Somehow BoA just keeps raising my limit without me asking. I think it's like 30k now and I've never spent more than 5 in a month. Banks make no sense.
Doobledump ยท 33 points ยท Posted at 03:26:02 on March 22, 2018 ยท (Permalink)
You have to use reverse psychology with them. I called and demanded they raise my APR, and they lowered it to zero.
Ae3qe27u ยท 2 points ยท Posted at 02:40:39 on April 21, 2018 ยท (Permalink)
Wait, seriously? That doesn't even make sense.
Cumupin420 ยท 2 points ยท Posted at 17:16:45 on March 22, 2018 ยท (Permalink)
Had that happen to me before, no need for a 50k limit at the time I made 35k a year every other month when I paid I got a message "congratulations we upped your limit due to payment history" had to call and tell them to stop and lowered it to 25k
RunThePack ยท 5 points ยท Posted at 02:48:02 on March 22, 2018 ยท (Permalink)
They are the actual worst.
BroadStreet_Bully5 ยท 31 points ยท Posted at 22:40:39 on March 21, 2018 ยท (Permalink)
Itโs every 6 months that you can do it. Ask for a credit increase and rate decrease. Thatโs how I have $40k on 3 different cards. If they give you the option of 0% for 12 months, or a small permanent decrease, I always took the small permanent decrease. My Discover IT is like 10%.
[deleted] ยท 7 points ยท Posted at 01:17:45 on March 22, 2018 ยท (Permalink)*
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BroadStreet_Bully5 ยท 20 points ยท Posted at 01:21:54 on March 22, 2018 ยท (Permalink)
Give or take. Slowed down around the time of the mortgage crisis. More available credit makes you look better to other potential creditors and lowers your utilization percentage. So I got like $115k available across 3 cards, but I only use like $2k at any time. If Iโm ever on the verge of losing my grasp of reality, Iโm going shopping first.
[deleted] ยท 5 points ยท Posted at 01:45:38 on March 22, 2018 ยท (Permalink)*
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BroadStreet_Bully5 ยท 6 points ยท Posted at 01:47:58 on March 22, 2018 ยท (Permalink)
Just starting you def want set your reminder to get your available credits as high and as quickly as possible. Once your credit is comfortably good, you can chill out a bit.
[deleted] ยท 4 points ยท Posted at 07:46:08 on March 22, 2018 ยท (Permalink)
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AnIdleStory ยท 7 points ยท Posted at 08:29:05 on March 22, 2018 ยท (Permalink)
Not quite accurate. You can ask any time you want. Different companies will give you advise you of different time frames, but itโs usually no less than 3 months. That is just so your history with them and credit file have time to have decent updates. You are correct about the hard pulls though, you need to space those out a decent amount. Any CC company can require one at any time, but they have to disclose the pull before you agree to it first.
Source: work for a major CC company.
[deleted] ยท 2 points ยท Posted at 14:26:53 on March 22, 2018 ยท (Permalink)*
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MeateaW ยท -6 points ยท Posted at 04:28:01 on March 22, 2018 ยท (Permalink)*
In my experience, your total credit limit actually reduces the amount the lenders are willing to lend you.
It's like; based on your income and your history you have a total capacity to "repay" loans.
Which means the bank puts that figure into a computer that says: "Person can afford 100,000 dollars in credit" (or whatever).
If you have 10,000 in credit cards, then the figure the computer spits out is: "100,000 dollars in credit, minus 10,000 credit someone has already advanced them, therefore 90,000 credit".
There are some variations for things like homeloans, where the loan is being backed by an underlying object. But in my experience, having more credit cards; leads to lower total lending being offered.
Having A credit card is beneficial, but at some point higher limits reduce the total they offer.
Edit: I'm not complaining about the downvotes, but for anyone downvoting me please read this:
http://www.ratecity.com.au/credit-cards/articles/can-a-high-card-limit-negatively-affect-your-credit-history
A select quote from the article:
wambam17 ยท 5 points ยท Posted at 05:40:52 on March 22, 2018 ยท (Permalink)
I think they meant having a higher credit line, but not really utilizing it. As in, he could be using the $2k on a $10k credit line, but instead, he asked for an increase and is now using $2k on a $100k credit line. Makes him look a helluva more trustworthy and makes it look like he doesn't even need the money anyway.
MeateaW ยท 3 points ยท Posted at 06:32:21 on March 22, 2018 ยท (Permalink)*
Yeah so in Australia; with our credit applications we literally put in the total maximum available line of credit we have available to us. "Sum of credit limit on all cards"
And this number pretty much gets deducted from the maximum lending limit on homeloan applications.
It isn't the "you didn't use it" so much as, "we believe you can service a debt of X dollars." If you have a credit card, that is a line of credit available to you that someone has already lent you.
You haven't used that money yet, but it is a part of your total servicable debt limit.
In Australia you see we have banking legislation that says banks cannot lend to people they do not reasonably believe can pay back the debt given their circumstances.
So if you are capable of paying back 1000 dollars per week, they cannot legally lend you an amount that will require you to repay more than 1000 dollars per week.
If you have a credit card; then even though you might only use 2k of your 100k credit, someone has already pre-approved for you to borrow an additional 100k.
So the bank cannot reasonably lend you any amount of money that could feasibly, given your current "preapproval", take you over the calculated maximum you are capable (given current circumstances) able to service.
What is the point of lending you 1 million dollars, if given your current circumstances you could only afford to pay back a loan of 500k?
And; given your income can only reasonably sustain a loan of 500k, why would someone lend you 500k if you have credit card limits that add up to a total of 100k. Since, that basically means if you get in trouble, you will end up with 600k in debt and you can only afford to pay back 500k.
This kind of lending only results in you failing to pay your debts. Turns out, banks like to get their money back.
Source: My personal experience applying for loans and what the loan application officer directly said to me.
And this: http://www.ratecity.com.au/credit-cards/articles/can-a-high-card-limit-negatively-affect-your-credit-history
A select quote from the article:
But like; sure; take the word of the guy with multiple credit cards and a total credit limit of $114,000 if you want.
Annabel398 ยท 4 points ยท Posted at 12:34:57 on March 22, 2018 ยท (Permalink)
Youโre probably getting downvotes because thatโs not how it works in the US.
MeateaW ยท 0 points ยท Posted at 21:35:34 on March 22, 2018 ยท (Permalink)
Yeah I figured it was a difference. The weird thing is I don't understand why it doesn't work that way there too.
How can it be in the lenders best interest to lend money to someone that can potentially put themselves in a hole they can't possibly dig their way out of?
But I guess the US doesn't get a 2008 for no reason right!
Annabel398 ยท 2 points ยท Posted at 21:41:25 on March 22, 2018 ยท (Permalink)
Rationale for: Companies A, B, and C consider this person worthy of extending 20K apiece of unsecured credit... s/he must be responsible! (because you rarely get to that kind of CL without a seriously good record of handling debt)
Rationale against: Companies A, B, and C would extend 20K apiece to this person... s/he could tap it all at once and be really deep in a hole!
We do have more restrictive rules around mortgages... basically, ANY movement in credit during a several-month-period around your closing date puts your loan at risk. That's why you often see disclaimers around CLI discussins that say "... unless you're getting a mortgage soon."
MeateaW ยท 1 points ยท Posted at 22:12:38 on March 22, 2018 ยท (Permalink)
Yeah; I understand the stated reasons.
But my understanding of risk is that you take into account their current situation as to the level of risk someone faces.
Company A offering 20k to someone without any loans makes a sensible decision.
Company B shouldn't take Company A's decision as a positive factor. Because Company B is deciding to loan someone money that already has a loan, Company A was deciding to loan someone money that had no debts.
Company C is a moron, "because A and B were doing it" is the dumbest logic I have ever heard. This is how bubbles happen. "I better get in quick because everyone else is making money off this!!"
To take the existence of A B and C collectively as a good idea to lend money abrogates your responsibility to make a safe decision. If someone can service 70k of debt, has 60k of credit cards already, and asks for another 20K of credit card limit, that is a recipe for them to have 80k of debt, and only be able to service 70k of it.
This results in potentially defaulting on all of the debt. No one wins in this situation!
Annabel398 ยท 1 points ยท Posted at 22:16:16 on March 22, 2018 ยท (Permalink)
Well, but Company B would probably not extend a $20K CL if the person was already into Company A for $18K. You seem to be assuming that the person is automatically using all the credit that is extended to them.
I don't think you're wrong about the potential downside for a lender--I'm just saying that's the current system here in the US.
rezachi ยท 1 points ยท Posted at 00:56:21 on March 23, 2018 ยท (Permalink)
They want them in the sweet spot where they can afford the payment but not to pay off the balance. For a lot of people this number is high enough that it means a couple hundred in interest charges per month.
Discovers minimum payment is 2%, so on a $14,000 balance youโre paying $280/month. Of that payment, $218/month goes to interest. With a little bit of searching I bet you could find the number of customers Discover has and the average balance of their customer pool. Itโs not hard to see why they want you in that spot.
wambam17 ยท 1 points ยท Posted at 05:34:19 on March 23, 2018 ยท (Permalink)
DING! DING! DING!
We have a winner!
Seriously though, it baffles me that literally everybody arrives at this realization sometime in their lifetime, yet we STILL have no effective laws preventing this obvious predatory behavior by banks.
wambam17 ยท 1 points ยท Posted at 05:38:10 on March 23, 2018 ยท (Permalink)
I wish life in the U.S. worked as nicely as it does in AUS as far as credit goes. I personally know quite a few people who simply lie on their credit application about their income and there is no check on it, so the credit company is more than willing to believe you and extend you credit. It sucks because let's be honest, nobody making good money is shopping at a shitty department store, but hey! If the customer is providing potential income, why say no, right? smh
Do they perform a better check over in AUS or can/do people lie about actual income?
MeateaW ยท 1 points ยท Posted at 14:31:33 on March 24, 2018 ยท (Permalink)
So, the short answer is I believe they do perform at-least a reasonable check.
I recently applied for a credit card and was required to provide pay slips from my work to prove my income. (Despite banking with that same institution and receiving my pay directly into my bank account for the last 13 years). So it is often more than a casual hand wave "you wrote it so we trust you".
I think in Australia our financial regulator really doesn't appreciate it when a bank does something wrong. I know someone that works for the financial ombudsman (sort of, its complicated), and from what I hear, the cases where a financial institution hasn't done the right thing, as a case manager he can and does basically wipe out debts. But people can and do lie their way into debt (and to him!), and he doesn't have much sympathy when it bites them in the ass.
BroadStreet_Bully5 ยท 2 points ยท Posted at 07:25:02 on March 22, 2018 ยท (Permalink)
I also have 6 mortgages. Credit history is everything.
AnIdleStory ยท 1 points ยท Posted at 08:23:46 on March 22, 2018 ยท (Permalink)
You can ask whenever you like, literally every day. In the industry we say 6 months is a good time. Allows a decent update to your history.
The only thing to be aware of is if they are pulling your credit report (they have to disclose that prior to actually running there check). If they do, wait at least 6 mo that or more to avoid multiple hits to your credit report in a short time.
Source: have worked for a major CC company for 6 years.
[deleted] ยท 1 points ยท Posted at 14:29:24 on March 22, 2018 ยท (Permalink)*
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AnIdleStory ยท 1 points ยท Posted at 17:37:30 on March 22, 2018 ยท (Permalink)
They may not know, depending on their computer system until they attempt. IF it will be required, they have to let you know and then ask your permission to pull, so you can change your mind.
hucktard ยท 3 points ยท Posted at 01:51:17 on March 22, 2018 ยท (Permalink)
You have $40K in CC debt or a 40K limit?
BroadStreet_Bully5 ยท 6 points ยท Posted at 01:55:38 on March 22, 2018 ยท (Permalink)
Limits on each. I only revolve like $1k-2k in debt.
Steve_182 ยท 2 points ยท Posted at 12:33:30 on March 22, 2018 ยท (Permalink)
so you can ask for 0% for 12 months even if you have had the card for a few years?
BroadStreet_Bully5 ยท 2 points ยท Posted at 12:59:36 on March 22, 2018 ยท (Permalink)
Yea, theyโre always running promos.
EsotericVerbosity ยท 1 points ยท Posted at 04:47:02 on March 22, 2018 ยท (Permalink)
Hmmm. Discover just told me that their bare minimum (floating) interest rate is 10.99%.
Brawldud ยท 46 points ยท Posted at 22:40:28 on March 21, 2018 ยท (Permalink)
I should write a letter to every billionaire in the US asking if they would kindly include me in their will. The worst they can do is say no, too.
[deleted] ยท 6 points ยท Posted at 22:55:20 on March 21, 2018 ยท (Permalink)
True
MustafasBeard ยท 3 points ยท Posted at 13:04:58 on March 22, 2018 ยท (Permalink)
You should actually try to figure out if the cost of doing it (time spent writing and finding addresses) is worth the benefit (odds of it working times the money you'd make).
takabrash ยท 3 points ยท Posted at 14:37:26 on March 22, 2018 ยท (Permalink)
I bet you'd get a non-zero amount of money, actually.
_ThereWasAnAttempt_ ยท 191 points ยท Posted at 22:01:58 on March 21, 2018 ยท (Permalink)
Shouldn't the teacher be telling their students to not carry a balance? I've never once known or cared what my cards apr is.
acebb6 ยท 233 points ยท Posted at 22:06:24 on March 21, 2018 ยท (Permalink)
Unfortunately, a good portion of the US lives paycheck to paycheck.
datareinidearaus ยท 260 points ยท Posted at 22:26:47 on March 21, 2018 ยท (Permalink)
One thing this sub never remembers. Basically 1/2 of America makes under 15/hr
SweetsAndCheats ยท 131 points ยท Posted at 22:42:02 on March 21, 2018 ยท (Permalink)
And at least another 25% lives beyond their means.
AstroSatan ยท 47 points ยท Posted at 00:02:31 on March 22, 2018 ยท (Permalink)
ayyyy that's me!
rman18 ยท 5 points ยท Posted at 00:32:09 on March 22, 2018 ยท (Permalink)
You and me both broski!
andsoitgoes42 ยท 1 points ยท Posted at 02:23:58 on March 22, 2018 ยท (Permalink)
Me too!! I canโt wait until old age where I look back at my past self and curse him out.
Ah crippling anxiety, depression and a serious problem with spending.
At least Iโve got useless shit that keeps me happy for a few days, sometimes minutes.
kihp ยท 15 points ยท Posted at 01:25:19 on March 22, 2018 ยท (Permalink)
At least 90% of that is because rent and food is beyond the means of minimum wage.
[deleted] ยท -11 points ยท Posted at 02:20:17 on March 22, 2018 ยท (Permalink)
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[deleted] ยท 1 points ยท Posted at 03:08:55 on March 22, 2018 ยท (Permalink)
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[deleted] ยท 0 points ยท Posted at 03:22:51 on March 22, 2018 ยท (Permalink)
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[deleted] ยท -2 points ยท Posted at 03:41:33 on March 22, 2018 ยท (Permalink)
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[deleted] ยท -2 points ยท Posted at 03:58:23 on March 22, 2018 ยท (Permalink)
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[deleted] ยท 1 points ยท Posted at 04:08:39 on March 22, 2018 ยท (Permalink)
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Yavin4Reddit ยท 7 points ยท Posted at 01:38:08 on March 22, 2018 ยท (Permalink)
Fuck me for daring to have an apartment, that lifestyle creep really gets on you!
ExiledLife ยท 50 points ยท Posted at 22:31:31 on March 21, 2018 ยท (Permalink)
As long as you can pay it off each month. A credit card is really good at leveling off income in a way that let's you pay for things as needed instead of waiting until you get paid.as long as you do not spend more than you bring home, then you are fine.
sPOUStEe ยท 39 points ยท Posted at 00:13:12 on March 22, 2018 ยท (Permalink)
Also a great way to get free money. If you're good about only buying what you need and pay off in full each month, you're basically throwing money away by not using a cash/points-accruing card. You might as well also build a fantastic credit profile, for if you ever decide to buy a house, car, etc.
poisonousautumn ยท 8 points ยท Posted at 00:42:10 on March 22, 2018 ยท (Permalink)
This is basically what I did to built credit. Use and pay off monthly. I went from having no credit to a 730 in 1.5 years. The cash back was a nice bonus. Plus fraud protection I wouldn't have by using my debit. I was just recently able to get a home loan thanks to this.
sPOUStEe ยท 4 points ยท Posted at 01:16:55 on March 22, 2018 ยท (Permalink)
Congrats on the new house and building a great credit profile! Making mortgage payments on time should boost your credit even more.
One thing I came to realize is, the more money you have and generally responsible you are, the better deals you get on stuff. I have kinda become addicted to seeing my score go up monthly now. If I get new credit cards, I love thinking about how much it'll lower my total usage and increase my credit score. I might have issues lol.
how_is_u_this_dum ยท 1 points ยท Posted at 11:45:17 on March 22, 2018 ยท (Permalink)
And also lower your length of credit history, lowering your score.
sPOUStEe ยท 1 points ยท Posted at 12:51:38 on March 22, 2018 ยท (Permalink)
Having a good # of accounts, a decent amount of credit and low utilization outweigh age. But yeah, I don't get a credit card every week for the heck of it.
zipykido ยท 1 points ยท Posted at 04:34:01 on March 22, 2018 ยท (Permalink)
It's
funnysad how the system seems to punish the poorest and middle class the most. Banking fees and penalties affect the poorest people the most while the middle class is being bled by the upper class pretty bad.sPOUStEe ยท -1 points ยท Posted at 05:13:33 on March 22, 2018 ยท (Permalink)
I've been there and it sucks indeed. "Oh you don't have money? Here, you owe us more money for not having money." Wtf?
I do think that some of these situations can be avoided or alleviated by better planning/making better choices. Something I'd encourage everyone to do is automate finances. I'm terrible with money, and I've found automation to be a good safeguard against that. I dedicate a good chunk to 401k, a portion of my income goes automatically into savings, and my bills are all on autopay. Granted, I'm fortunate to have a decently paying job. I do think that even when I didn't, though (as when I got into financial trouble), if I'd had this system in place, I could have avoided a lot of what got me into that shitty situation to begin with.
Tl;dr: I agree certain systems suck, but I think there are things people can do to avoid getting into some of those situations, sometimes.
how_is_u_this_dum ยท 1 points ยท Posted at 11:47:31 on March 22, 2018 ยท (Permalink)
"Oh, you don't have the money for X and are charging it to your card, anyway? Here, you owe us a nominal fee for borrowing credit from us."
sPOUStEe ยท 1 points ยท Posted at 12:55:01 on March 22, 2018 ยท (Permalink)
Oh god, bad memories of when I was a young dumb kid, lol.
[deleted] ยท 1 points ยท Posted at 17:34:42 on March 22, 2018 ยท (Permalink)
No, I think he was referring to how certain banks charge you a "maintenance fee" every month if you don't deposit a certain amount every month or keep your balance above a certain level at all times.
poisonousautumn ยท 1 points ยท Posted at 01:24:28 on March 22, 2018 ยท (Permalink)
Thank you! :) And that's how I think of it too. I also sort of got into the whole gamification of my credit score and tracking it. I used to/still play alot of RPGs and strategy games so I kind of focused in on it like I was managing a stat sheet. There's nothing wrong with doing that. I always feel whatever motivates you to do the right thing, however you do it; if it works for you it works.
sPOUStEe ยท 1 points ยท Posted at 01:35:36 on March 22, 2018 ยท (Permalink)
You're quite right. Gamification is powerful! I wonder if a gamified dashboard for life metrics would be a good idea. Like it would track your assets and liabilities, health stats, etc, and generate a score. The idea would be to get people hooked into making positive life choices.
poisonousautumn ยท 1 points ยท Posted at 01:51:12 on March 22, 2018 ยท (Permalink)
I would be all about this. I already use a few financial apps, and things like google fit and myfitnesspal for my physical self. But something that sort of combined them and made a real life "stat sheet" would be so sweet. Throw a little healthy competition in there. My only worry would be the sheer amount of personal data combined in one place. It would be hard to do in a non-sketchy way.
sPOUStEe ยท 1 points ยท Posted at 02:21:56 on March 22, 2018 ยท (Permalink)
Yep, privacy and security would be a concern. It would be cool if you could use the blockchain to inject trust back into the equation. Basically somehow make it so all access to data is irreversibly written on a blockchain that people can audit for themselves. An easier way is to always just use live API calls and never actually store data. Having no data means nothing to sell. You'd need to use good security practices to keep users' login details, of course.
I am kinda full up on side projects atm but I would like to explore this some more. In addition to assets, liabilities, credit score, weight/bodyfat, steps, maybe water intake what kind of things should go into this, you think? It would likely need to be user configurable as everyone has different goals, but having some ideas would help.
poisonousautumn ยท 1 points ยท Posted at 21:46:37 on March 22, 2018 ยท (Permalink)
I like the blockchain idea. I didn't know how powerful blockchains are until I did some recent research. I think it's the future of privacy/truthfulness on the internet but you seem more knowledgeable about the technical aspects.
And I currently lack side projects lol. I was taking web dev classes a bit ago. Maybe something like this could get me back into it.
One thing I do have is alot of experience developing game systems (mostly paper and pen variety, as well as simple PC games). At first I was thinking integrated multiplayer competition, but these stats can be fudged by someone unless we use 3rd party data gathering apps which in turn creates that privacy risk. Instead we take the user volunteered metrics and develop a sort of character sheet that could be ported elsewhere. You level yourself and you level your avatar. This is probably a throw back to me creating D&D/other systems characters of me and my friends as accurately as possible lol.
allididwasloveyou ยท 1 points ยท Posted at 06:07:17 on March 22, 2018 ยท (Permalink)
Congrats!!!!! May I ask how much your loan is for? That's pretty much exactly what I did and I want to buy my first home but I'm scared that since I don't have a long enough credit history for something that expensive. I've been picking everyone's brain about home buying. Thank you in advance for any input.
poisonousautumn ยท 2 points ยท Posted at 21:49:13 on March 22, 2018 ยท (Permalink)
I'm rather low income but was able to get a USDA loan for up to 150k. I did apply with my fiance, who has a score of around 660. I think if I had done it alone my max would have been maybe 120k. USDA is nice if you are lower income, since it has a low interest rate and no required down payment, but it must be qualified (rural locality, income maximums, decent credit score). Basically, if it's not in the city or high density suburbs you can get a USDA loan.
One more thing: The process of buying and getting financing was 100% easier then trying to rent. I was getting rejected from rentals because of a past non-violent criminal record. Nobody cared about my credit or anything, just that. So I found it almost amusing how easy it was to get in comparsion to trying to find a rental.
Dragon_Fisting ยท 1 points ยท Posted at 13:16:04 on March 22, 2018 ยท (Permalink)
Credit cards also offer sweet picies. Citi covers me for returns, stolen or broken items in the few month or so, and price protection.
sPOUStEe ยท 1 points ยท Posted at 13:43:38 on March 22, 2018 ยท (Permalink)
Indeed! I failed to mention these, but many offer great perks like this. The Uber card even has free mobile protection (though they're likely selling your data :/).
Everyone should do some research and use a card that's best for their lifestyle. It pains me when I see friends use a debit card while out and about.
sayyesplz ยท 3 points ยท Posted at 23:13:40 on March 21, 2018 ยท (Permalink)
That's more of a reason not to carry a balance, not less
_ThereWasAnAttempt_ ยท 15 points ยท Posted at 22:13:09 on March 21, 2018 ยท (Permalink)
And a good way to end that or at least improve upon that is to teach students not to carry a balance on credit cards...
acebb6 ยท 31 points ยท Posted at 22:20:01 on March 21, 2018 ยท (Permalink)
No doubt, but we have expectations and then we have reality. As someone who went though a little debt and now in a good spot, I can empathized. Some people still learn the hard way regardless of education. IE. Human.
_ThereWasAnAttempt_ ยท -5 points ยท Posted at 22:26:29 on March 21, 2018 ยท (Permalink)
Right, I get that, but shouldn't we start with providing that education in the first place? It's up to the individual to actually heed the advice. But I'd much rather a teacher teach their kids it's better to not carry a balance, than suggesting they find ways to temporarily have a 0%apr.
Rashaya ยท 12 points ยท Posted at 22:37:15 on March 21, 2018 ยท (Permalink)
I don't know why you'd think those two are mutually exclusive. As a former math teacher, I would have students investigate what happens in real world situations involving interest, like with credit cards and mortgages. At the end of the activity, we'd talk about why paying interest might be good or bad. My bet is that this teacher just threw in a bit of real-world advice with a similar lesson to help students get a better understanding of how negotiating can be another worthwhile option.
lurkedlongtime ยท 3 points ยท Posted at 23:52:57 on March 21, 2018 ยท (Permalink)
They should tell you both.
I have had damn near perfect credit since I was 18. The day I turned I got a secured credit card and never carried a balance for the longest time.
High 700s. The past year (25) my family ran into significant financial issues. I sold a lot of shit on the side to make sure I paid the bills. I have 5k in credit card debt I'm finally getting to pay down.
I listened to the advice of don't carry a balance as best I can.
But I didn't know about this and I'm glad to see it now
AmericasNextDankMeme ยท 12 points ยท Posted at 22:24:26 on March 21, 2018 ยท (Permalink)
Good way to end teen pregnancy is to tell kids not to have sex
[deleted] ยท 17 points ยท Posted at 22:40:46 on March 21, 2018 ยท (Permalink)
No it isn't.
That's like telling someone to not spend money. It's theoretically possible, but realistically is just not going to happen.
junon ยท 22 points ยท Posted at 23:34:25 on March 21, 2018 ยท (Permalink)
I think that's the joke.
[deleted] ยท 5 points ยท Posted at 23:37:53 on March 21, 2018 ยท (Permalink)
Yeah.
He was comparing financial responsibility to celibacy. That's a really stupid comparison. I was pointing that out.
Responsible sex =/= don't have sex. Financial responsibility =/= don't spend money.
junon ยท 5 points ยท Posted at 23:44:23 on March 21, 2018 ยท (Permalink)
Right, he was humorously pointing out that like how teaching abstinence is not an effective means of ending teen pregnancy, telling people 'just don't carry a balance' is similarly not effective financial advice by itself. You agree with the point he's making.
[deleted] ยท 3 points ยท Posted at 23:56:32 on March 21, 2018 ยท (Permalink)
I disagree entirely with the analogy he's using. "Don't carry a balance" is not like saying "Don't have sex". "Don't carry a balance" is like saying "Don't have unsafe sex". It's good advice, but lacks the detail to be very helpful.
"Don't have sex" is analogous to "Don't spend money", which is useless advice.
_ThereWasAnAttempt_ ยท -2 points ยท Posted at 22:28:56 on March 21, 2018 ยท (Permalink)
It's a good place to start. Combine it with safe sex education and you've done what you can.
You don't just assume the worst in people and not bother educating them in the first place.
AmericasNextDankMeme ยท 1 points ยท Posted at 22:56:54 on March 21, 2018 ยท (Permalink)
It's possible to teach people how to manage credit card debt while also telling them to avoid it in the first place. The two aren't mutually exclusive.
2unlit2quit ยท 5 points ยท Posted at 00:09:17 on March 22, 2018 ยท (Permalink)
I mean, I was going to owe $300 to the IRS this year but instead I put my whole paycheck into an 2017 IRA (you can do this until tax day even though it's now 2018) and now I'm actually getting a refund. I'm going to have to use my credit card (my savings accounts get 5.17% interest on the first $2k so I don't want to dip into my emergency fund and lose a bit on interest, too). This is just an example of what I'm going through right now where having credit available helps me a lot. I will likely pay off my expenses on my card just fine within the current statement but someone without as much income per paycheck may need additional pay periods to recover if there is an emergency or just a tax situation like this. It doesn't hurt to have good options.
ilovethetradio ยท 1 points ยท Posted at 01:41:31 on March 22, 2018 ยท (Permalink)
Where do you have your savings account? I want 5% on my first 2K!
Phillip__Fry ยท 4 points ยท Posted at 03:36:21 on March 22, 2018 ยท (Permalink)*
It's not really a 5% savings account rate. It's a "rewards account rate". Basically at 5% he's getting an extra 3.5% compared to a regular saving account. 3.5% on $2000 is ~$6 a month. So he's being paid $6 for fulfilling requirements for the "rewards account", generally X debit card purchases a month on a no-rewards card or similar.
That doesn't make it a bad deal in itself. But $3 a month for maintaining an extra account is not exactly a huge windfall.
2unlit2quit ยท 1 points ยท Posted at 02:08:01 on March 22, 2018 ยท (Permalink)
DCU, to clarify that is including my wife's. And sorry it's only 5.12%
JohnDoeNH ยท 2 points ยท Posted at 00:02:09 on March 22, 2018 ยท (Permalink)
Same. Have had cards since I was 18. Im 33 now, $0.00 interest paid. Tons of rewards.
detroitdoesntsuckbad ยท 2 points ยท Posted at 01:42:01 on March 22, 2018 ยท (Permalink)
Exactly, I have no idea what my cards APR is. I've never carried a balance in 20yrs. And if you need to make an "emergency" purchase, makes sure you have that in the bank. Get your cash back discount or points and pay it off. This is r/PersonalFinance not r/PoorPlanning
GreenTunicKirk ยท 1 points ยท Posted at 22:35:00 on March 21, 2018 ยท (Permalink)
Ah, but if you need to make a large purchase - emergency, luxury purchase, perhaps a travel vacation.
I had Discover drop my APR to zero and made a few emergency purchases. Itโs helps to not have to worry about the extra interest.
TakeMeToTheVolcano ยท 3 points ยท Posted at 23:33:52 on March 21, 2018 ยท (Permalink)
You need an emergency fund!
GreenTunicKirk ยท 5 points ยท Posted at 23:51:31 on March 21, 2018 ยท (Permalink)
I have one! I also got points!
farkedup82 ยท 1 points ยท Posted at 00:47:57 on March 22, 2018 ยท (Permalink)
If you're doing well that 0% interest to credit cards paired with big returns on stocks this past year has been good. even if you don't get a 0 fee transfer offer you're talking paying 3% vs making 15% With mortgage rates inching high I could see home remodeling being a reasonable option too.
chach_86 ยท 1 points ยท Posted at 16:31:46 on March 22, 2018 ยท (Permalink)
This would be good advice. The average American has 15k in CC debt... let that sink in for a minute!
Plutonium_man ยท 0 points ยท Posted at 01:43:32 on March 22, 2018 ยท (Permalink)
Ideally, your credit line isn't there for the good times. It's there for the bad times when unexpected shit happens. Maybe you'll screw up at work, get fired, and not find a suitable job for 3-4 months. Unless you have savings for this, you'll start to notice what your APR is.
_ThereWasAnAttempt_ ยท 2 points ยท Posted at 01:58:51 on March 22, 2018 ยท (Permalink)
That's what an emergency fund is for..
retiredcobra ยท -8 points ยท Posted at 22:18:08 on March 21, 2018 ยท (Permalink)
Why would you waste money and not use credit cards? Have fun losing 1-5% of your income for no reason at all.
keevesnchives ยท 7 points ยท Posted at 22:21:54 on March 21, 2018 ยท (Permalink)
Hes not saying to "not use credit cards," hes saying you should pay it all off at the end of the billing month so it doesn't matter what the APR is.
_ThereWasAnAttempt_ ยท 7 points ยท Posted at 22:25:07 on March 21, 2018 ยท (Permalink)
You seem confused. I never said not to use credit cards. On the contrary; credit cards are great when used correctly.
I said not to carry a balance. If you're carrying a balance, you're doing it wrong.
retiredcobra ยท -12 points ยท Posted at 22:51:31 on March 21, 2018 ยท (Permalink)
You said not to carrying a balance, sounds a lot like not carrying a credit card. That makes sense to shoot for paying off by the end of the month. Though there are plenty of reasons to acquire debt you have to make interest payments on E.g. School, buying/selling, Car
_ThereWasAnAttempt_ ยท 8 points ยท Posted at 23:11:08 on March 21, 2018 ยท (Permalink)
Not carrying a balance is not the same as not carrying a credit card. It just means you pay off your full statement balance in full each month, and thus pay no interest at all.
ChrisBrownsKnuckles ยท -1 points ยท Posted at 01:38:19 on March 22, 2018 ยท (Permalink)
Had to charge one up for a wedding. Did a balance transfer to another promotional APR card when the 0 APR ran out on the initial one. Hopefully it will be paid off this year but sometimes if you need to do something expensive you've gotta do it but you need to be smart about how you do it. I do use a rewards card for all my spending as well but that gets paid off every month... Dunno what the APR is on that one.
chach_86 ยท 1 points ยท Posted at 16:30:26 on March 22, 2018 ยท (Permalink)
I did the same thing after our vacation last year. We put everything on the CC forthe miles and were going to pay it off as soon as we got home. Got an offer from our other CC for 0% on balance transfers for 18 months so I just transferred it over, make the minimum monthly payments, and keep the cash in my savings until the time comes when I need to pay it off. It feels bad having a balance on it but I can't think of a really good reason to pay it off right away.
tronfunkinblows_10 ยท 3 points ยท Posted at 23:44:25 on March 21, 2018 ยท (Permalink)
Makes me worried that in some weird universe, if you asked to lower your APR, they would say no, and in raise it.
samtresler ยท 2 points ยท Posted at 04:26:23 on March 22, 2018 ยท (Permalink)
I have a Google calendar recurring event every 6 months for every card I have. I just call and ask for something. Higher limit. Lower rate, etc.
I almost always get something.
Shnikes ยท 2 points ยท Posted at 23:59:41 on March 21, 2018 ยท (Permalink)
I wish I could get over the anxiety of being told no. I over analyze the situation and feel like asking and being told no makes me sound like an idiot. I know itโs not true. Itโs the same reason why I canโt bring myself to take my former property management company to small claims. They charged me a $250 cleaning fee but Iโve got photo proof otherwise. Itโs hasnโt been a year but I get so much anxiety thinking about doing it.
pandott ยท 3 points ยท Posted at 01:29:04 on March 22, 2018 ยท (Permalink)
Okay, for serious here. I must encourage you to start thinking differently. You are the customer. THEIR customer. It's YOUR business that they are making money off of. YOU are making them money. It's YOUR money that they are earning interest on. Therefore it is YOUR business they want to keep. It's very expensive for credit card companies to try to get new customers, so they want to maintain their customer base. What you need to do is leverage tactics against them, for example, let's say you have fairly good credit and get tons of balance transfer options in the mail all the time. Even if you are only 50% serious about using one of them as an option in case your call to lower APR doesn't work, you ought to USE THIS as a tool with the people you speak to at the credit company. Tell them that you're interested in taking your business elsewhere if they cannot work with you, the customer. Another example is using your experience as -- again to emphasize -- their customer! as a way to get favors. You've been on time with your payments dilligently? Bring that up! Good customers should get rewarded and in more than just "points"! Literally the worst they can do is say no. You will NOT damage your credit by asking.
headband2 ยท 1 points ยท Posted at 22:16:26 on March 21, 2018 ยท (Permalink)
And give you a hp for something thats pretty useless.
ScallyWag-Idiot ยท 1 points ยท Posted at 22:58:11 on March 21, 2018 ยท (Permalink)
Absolutely. Squeaky wheel gets the grease. Worst thing that can happen is people say no..
CaffeineSippingMan ยท 1 points ยท Posted at 23:05:08 on March 21, 2018 ยท (Permalink)
Citi bank has never said yes. Perhaps it is time to switch banks.
TheMonsterWithinYou ยท 1 points ยท Posted at 06:25:19 on March 22, 2018 ยท (Permalink)
Itโs funny. I called capital one just yesterday and asked them if they could lower mine. They said no. Iโve never asked before and mine is 21% :\
Muggle_Mania ยท 1 points ยท Posted at 11:38:02 on March 22, 2018 ยท (Permalink)
Hope they also tell students to avoid student loans for college unless they have a definite plan on repayment.
USsoccer100 ยท 1 points ยท Posted at 00:28:21 on March 22, 2018 ยท (Permalink)
If you have Dish Network call and ask to speak to the cancelation department. The regular operators can only offer Like $15 off, the cancelation guys can take off like $30
eat_thecake_annamae ยท -1 points ยท Posted at 01:00:21 on March 22, 2018 ยท (Permalink)
The real life pro tip yada yada yada
[deleted] ยท -5 points ยท Posted at 19:40:41 on March 21, 2018 ยท (Permalink)
[deleted]
[deleted] ยท 3 points ยท Posted at 20:23:29 on March 21, 2018 ยท (Permalink)
[deleted]
FanofK ยท 613 points ยท Posted at 21:56:48 on March 21, 2018 ยท (Permalink)
Online chat is down. Personal Finance flooding the lines lol
YouDontSurfFU ยท 307 points ยท Posted at 23:04:35 on March 21, 2018 ยท (Permalink)
I just got off the phone with them and the agent was wondering why they've been getting a high volume of calls the past 4 hours haha
๐๏ธ Stone-J ยท 246 points ยท Posted at 21:58:46 on March 21, 2018 ยท (Permalink)
Wow. Their chat is down. Woops.
Julia_Kat ยท 200 points ยท Posted at 22:44:52 on March 21, 2018 ยท (Permalink)
Reddit hug of death.
[deleted] ยท 150 points ยท Posted at 02:36:04 on March 22, 2018 ยท (Permalink)
Congratulations, you have successfully overwhelmed the resources of a major corporation while, presumably, sitting in your underwear eating nachos.
A_Politard ยท 28 points ยท Posted at 06:08:27 on March 22, 2018 ยท (Permalink)
Things like this make me so happy.
Bleda412 ยท 16 points ยท Posted at 07:10:50 on March 22, 2018 ยท (Permalink)
I'm sure Discover is very happy about it. They're getting tons of good publicity if 0% APR is big enough of a deal for enough people to contact them so that their lines go down.
Cainga ยท 1 points ยท Posted at 18:05:46 on March 22, 2018 ยท (Permalink)
Last week on here discover got a ton of hate for cutting benefits. Now this week itโs all love. Luckily for me I have other cards with those lost benefits. I donโt really need a 0% interest loan but itโs good news to tell family or friends that might.
Lisentho ยท 0 points ยท Posted at 10:21:14 on March 22, 2018 ยท (Permalink)
Are they really getting that much publicity though by people who are already with them calling them privately
Bleda412 ยท 3 points ยท Posted at 10:22:48 on March 22, 2018 ยท (Permalink)
They get plenty of good publicity through a great deal getting to the front page of reddit.
FlameInTheVoid ยท 1 points ยท Posted at 06:40:16 on March 22, 2018 ยท (Permalink)
Man, I wish I had some nachos.
omegasus ยท 12 points ยท Posted at 01:01:46 on March 22, 2018 ยท (Permalink)
Haha I just used the chat and the agent took forever to respond. They did not give me the 0% offer :(
NotStevenPink ยท 19 points ยท Posted at 23:03:20 on March 21, 2018 ยท (Permalink)
We've given Discover the /r/personalfinance hug of death
AWE821M ยท 15 points ยท Posted at 22:02:36 on March 21, 2018 ยท (Permalink)
I'm pretty sure that's exactly what's going on!
Moistmaker1 ยท 1673 points ยท Posted at 18:54:30 on March 21, 2018 ยท (Permalink)
Iโd like to say, I immediately got on the phone when I read this. I now also have 0% for 12 months and Iโm very happy about that!! Iโm moving in 3 months so this is perfect for new apartment needs!
sweatpants_money ยท 392 points ยท Posted at 19:03:42 on March 21, 2018 ยท (Permalink)
Any tips for what to say? I just called and was told they were not able to adjust my account as it's already at the lowest available rate. I tend to pay off my balance each month but currently have about a $200 balance.
Not_a_CPA ยท 715 points ยท Posted at 20:16:14 on March 21, 2018 ยท (Permalink)
I used their online chat and said, "I noticed that my APR is higher than my other credit cards. I would like my APR lowered."
They came back and offered me 0% for 12 months, same as OP.
sweatpants_money ยท 432 points ยท Posted at 20:26:25 on March 21, 2018 ยท (Permalink)
Said pretty much exactly the same thing on the phone (unsuccessfully) and through chat (successfully). Chat is the way to go imo for anyone else looking into this.
onthewayjdmba ยท 195 points ยท Posted at 00:39:53 on March 22, 2018 ยท (Permalink)
Also great for introverts.
amerioali ยท 42 points ยท Posted at 02:12:31 on March 22, 2018 ยท (Permalink)
Ahhhh yessss. This.
I always put off calling companies that don't have an online chat
takabrash ยท 5 points ยท Posted at 14:38:48 on March 22, 2018 ยท (Permalink)
And certain companies know that so they don't do a chat. My student loans require you to call, and then there's a 20 minute fight through an automated system. I was very close to just saying "Screw it! I don't want my interest rates lowered" lol
_pulsar ยท 3 points ยท Posted at 17:25:57 on March 22, 2018 ยท (Permalink)
Introverts aren't scared to talk to people. They just need more time alone to "recharge" so to speak.
TheKingElessar ยท 56 points ยท Posted at 01:01:05 on March 22, 2018 ยท (Permalink)
The customer support people must be pretty confused. There are tons of people asking the exact thing in one day.
arealmentalist ยท 45 points ยท Posted at 02:08:54 on March 22, 2018 ยท (Permalink)
who's to say one of them isn't looking through this reddit thread at work right now.
Cumupin420 ยท 2 points ยท Posted at 17:18:03 on March 22, 2018 ยท (Permalink)
That's phone support, a deal comes out and in two days that's all your doing for a week
FF0000panda ยท 24 points ยท Posted at 23:36:14 on March 21, 2018 ยท (Permalink)
Thank you so much!
edvek ยท 3 points ยท Posted at 01:11:57 on March 22, 2018 ยท (Permalink)
Dope, I have a Discover and Chase card. I like the Chase card more for my 1.5% cash back, do you do it with Discover or someone else?
bigmeech85 ยท 2 points ยท Posted at 01:24:02 on March 22, 2018 ยท (Permalink)
I was unsuccessful through chat.
tbellthrowaway ยท 2 points ยท Posted at 05:52:44 on March 22, 2018 ยท (Permalink)
It might be automated. A lot of companies that are willing to give out things like this (refunds for subscription services are also another category where this is common) will have AI that detects when users are asking for something like this and just give it if they meet certain standards.
jacobi123 ยท 2 points ยท Posted at 14:10:15 on March 22, 2018 ยท (Permalink)
They shot me down, but it was worth a shot.
AnIdleStory ยท 1 points ยท Posted at 08:20:49 on March 22, 2018 ยท (Permalink)
It honestly doesnโt matter what communication method you use, itโs the same program and process either way.
Source: I work for one of the major CC companies.
proanimus ยท 84 points ยท Posted at 20:24:18 on March 21, 2018 ยท (Permalink)
This must be their standard response to an APR-related complaint.
runasaur ยท 77 points ยท Posted at 21:54:50 on March 21, 2018 ยท (Permalink)
If you are in good standing :(
I few years ago I had a 24% citi APR after a few missed payments. Once I got back to even I asked for a lower APR and they dropped it to 12%.
draginator ยท 95 points ยท Posted at 22:15:18 on March 21, 2018 ยท (Permalink)
Hey, that's still a good improvement.
gdelia928 ยท 3 points ยท Posted at 01:33:08 on March 22, 2018 ยท (Permalink)
Something to note they can and will give you a lower permanent apr if you ask. I get them to do it roughly once a year.
BrackaBrack ยท 0 points ยท Posted at 12:02:16 on March 22, 2018 ยท (Permalink)
The "other credit cards" was probably the key word. They don't want you balance transferring out. Most cards will offer 0% for 12 months on a balance transfer.
๐๏ธ Stone-J ยท 116 points ยท Posted at 19:20:45 on March 21, 2018 ยท (Permalink)
I doubt it makes a big difference, but I used their online chat instead of calling.
sweatpants_money ยท 104 points ยท Posted at 20:06:41 on March 21, 2018 ยท (Permalink)
Ha just tried through chat and it worked. Thanks
sold_snek ยท 256 points ยท Posted at 21:30:03 on March 21, 2018 ยท (Permalink)
Man, I've had so many people asking about their APR today. I wonder what happened.
MainSailFreedom ยท 54 points ยท Posted at 21:39:12 on March 21, 2018 ยท (Permalink)
That was my first thought lol
ZachPutland ยท 51 points ยท Posted at 22:47:35 on March 21, 2018 ยท (Permalink)
May0naise ยท -9 points ยท Posted at 21:49:07 on March 21, 2018 ยท (Permalink)
This is the comment that broke me today
Send help, Iโm crying.
WestCoastBestCoast01 ยท 22 points ยท Posted at 21:58:00 on March 21, 2018 ยท (Permalink)*
Trying this now... will report back!
Edit: Chase doesnโt have an online chat :( but I sent a message so weโll see!
boringdude00 ยท 28 points ยท Posted at 22:59:36 on March 21, 2018 ยท (Permalink)
Good luck with that, Chase has been aggressively raising rates recently. My accounts have gone from 10.24% and 11.24% to 16.99% in the last few years despite fantastic credit. Every year they bump it up a few percent and send a postcard with your accounts are lower than the lowest rates we currently offer, if you don't accept you agree to cancel your account. No amount of bargaining will change their mind and the 5% rewards are too good to cancel and I'm not carrying a balance anyways.
KaziArmada ยท 9 points ยท Posted at 23:42:16 on March 21, 2018 ยท (Permalink)
Yep, just tried myself. Chase claimed 24% APR was as low as it goes, despite me finding results for a new card from them going down to 16. After the 0% Period of course.
Wonder if going into a branch would be more successful with them.
caboosetp ยท 5 points ยท Posted at 00:28:14 on March 22, 2018 ยท (Permalink)
Whenever I see those cards, they don't have the 5% rewards on everything.
onthewayjdmba ยท 2 points ยท Posted at 00:50:09 on March 22, 2018 ยท (Permalink)
I have one card with them but they are always sending me offers for other cards with 0% for 12 to 15 months.
KaziArmada ยท 1 points ยท Posted at 00:57:15 on March 22, 2018 ยท (Permalink)
Other cards sure. I'm debating if I want to get a new card, and flip everything over onto it just for the year of no APR.
[deleted] ยท 1 points ยท Posted at 05:59:29 on March 22, 2018 ยท (Permalink)
[deleted]
ManBearPig5050 ยท 1 points ยท Posted at 12:44:46 on March 22, 2018 ยท (Permalink)
I have a Chase Unlimited where the 0%APR expired about 4 months ago. I got a Cap One Quicksilver Reward which was about the same as my Chase Unlimited.
shx0082 ยท 3 points ยท Posted at 02:25:08 on March 22, 2018 ยท (Permalink)
Just got told to piss off by Chase after emailing them requesting a lower interest rate. Apparently 16% is the lowest available...
N1CK4ND0 ยท 2 points ยท Posted at 22:10:20 on March 23, 2018 ยท (Permalink)
Just paid off both my chase cards and got the 0% re-up for a year same way as OP :P Haven't used the discover one in like 2 years yet they still dropped it to 0 so now I get that sweet sweet 5% cash back for free.
Annabel398 ยท 1 points ยท Posted at 22:42:21 on March 21, 2018 ยท (Permalink)
Chase is pretty tight IME =(
Sashivna ยท 2 points ยท Posted at 13:15:40 on March 22, 2018 ยท (Permalink)
Yes, I've spent the past week going back and forth with emails to Chase about the APR (being told they can't go lower than 29.99% for that account -- was my starting APR when I had very poor credit 15 years ago. I have excellent credit, never miss payments, etc. for the length of the card, but they don't care). They kept saying that they "automatically review accounts every 6 billing cycles for APR reductions" and that things like management of credit, overall credit rating, etc. affect the rating. When pressed, they have refused to provide specific reasons for why my account wasn't "eligible," giving me almost the same boilerplate responses. I wonder if anyone ever gets a lowered APR during these so-called "automatic reviews." (They also refused to provide me with an average of how many accounts receive lowered APRs during the automatic reviews. Would be an interesting data point to know.)
Of course, they keep sending me offers for other (better) cards with far lower APRs and basically barraging me with offers for mortgages and auto loans and to do my checking/savings with them. Hah.
HunkyBrewster ยท 6 points ยท Posted at 20:38:43 on March 21, 2018 ยท (Permalink)
Argh. Doesnโt look like capital one has the option for online chat
alanbenj ยท 1 points ยท Posted at 17:51:18 on March 22, 2018 ยท (Permalink)
go to "more account services" tab and a little blue chat bubble will appear above the little blue megaphone. but beware: i just tried this, but to no avail. i even said i'd need to find a new credit card company and still nothing. :-/
tomnoddy87 ยท 0 points ยท Posted at 21:11:42 on March 21, 2018 ยท (Permalink)
phone!
CrimsonScuba ยท 2 points ยท Posted at 20:28:36 on March 21, 2018 ยท (Permalink)
Did they ask for your income or any other information?
mikedm123 ยท 2 points ยท Posted at 23:38:41 on March 21, 2018 ยท (Permalink)
damn, late to the party.
[deleted] ยท 3 points ยท Posted at 23:21:06 on March 21, 2018 ยท (Permalink)
They likely have a subcontracted center in India handling the online chat (cheaper and accents don't come across in text) who isn't watched as closely. I'm not sure who you get when you call, but it's probably an American who's managed a lot more closely by corporate. Always try online chat first for this reason.
tskee2 ยท 8 points ยท Posted at 00:01:29 on March 22, 2018 ยท (Permalink)
This is untrue. I work at Discover, and 100% of both phone and chat agents are in the US.
[deleted] ยท 2 points ยท Posted at 00:09:50 on March 22, 2018 ยท (Permalink)
Ok. I used to work for Citi nearly a decade ago and this was how they did things.
tskee2 ยท 7 points ยท Posted at 00:11:10 on March 22, 2018 ยท (Permalink)*
Most places do now. Itโs a point of pride for Discover to have 100% US-based customer service. Providing the best service is something thatโs taken very seriously.
cdunjo ยท 2 points ยท Posted at 10:03:04 on March 22, 2018 ยท (Permalink)
"100% US based" isn't synonymous to "best service" though, might be a good thing to keep in mind
laser_cait ยท 39 points ยท Posted at 21:01:02 on March 21, 2018 ยท (Permalink)
Makes no difference what you say so don't stress about that. The employee literally clicks a button that checks if you're eligible.
sweatpants_money ยท 42 points ยท Posted at 21:03:17 on March 21, 2018 ยท (Permalink)
I was told I wasn't eligible when I called but was given the offer when I asked 10 mins later through chat. Any idea why?
no_sissies_allowed ยท 18 points ยท Posted at 22:34:05 on March 21, 2018 ยท (Permalink)
What's weird to me is they probably put a note on your account when you called (standard customer service procedure). So when you when to the chat service, whoever you spoke to had to see the note from someone else just 10 minutes beforehand. I wonder why they would contradict each other.
[deleted] ยท 11 points ยท Posted at 23:22:59 on March 21, 2018 ยท (Permalink)
I'm thinking different centers with different rules. Phone rep is probably an American at a corporate owned call center or a subcontracted place with more restrictions. The online rep is probably in India with fewer/vaguer restrictions on what he or she can do.
edvek ยท 2 points ยท Posted at 01:17:41 on March 22, 2018 ยท (Permalink)
Might also get some kind of bonus for something. I wonder when they give you the 0% for 12 months does it do a credit check.
Magnus_Mercurius ยท 1 points ยท Posted at 12:59:42 on March 22, 2018 ยท (Permalink)
you need to give them permission to do a hard hit, so if they donโt ask, then no. i think they can do a โsoft pullโ - which doesnโt effect your score - without permission. since youโre just asking for a lower rate, not additional credit, thereโs no reason for them to do a hard hit.
hamakabi ยท 3 points ยท Posted at 22:53:10 on March 21, 2018 ยท (Permalink)
If a service professional thinks you're going to escalate to their manager, they'll often just acquiesce to your requests because the manager will give you what you want eventually anyway. A guy who calls twice in one day is high-risk for requiring more attention than he's worth, so it's easier for everyone to just give you what they can.
BasicBitchOnlyAGuy ยท 2 points ยท Posted at 00:10:44 on March 22, 2018 ยท (Permalink)
I work for a cable company in the call centerIwanttodie . Our chat reps are all overseas vendors who aren't trained well and don't follow the rules. Somtimes they'll do stuff for you they shouldn't and you get lucky. Other times they absolutely fuck your shit up beyond repair.
I'd guess other companies are the same.
womanderful ยท 1 points ยท Posted at 06:41:13 on March 22, 2018 ยท (Permalink)
Bottom line: if you have something broken and want it fixed, call. If you are fine and you want to be better, chat.
drybull ยท 3 points ยท Posted at 20:36:09 on March 21, 2018 ยท (Permalink)*
This happened to me too - It might be because I just came off the 12 month 0 APR, thats too bad.
edit: I tried again a month later and I am back at 0%
Kandecid ยท 2 points ยท Posted at 22:59:06 on March 21, 2018 ยท (Permalink)
FWIW, your APR very likely only applies to new purchases, not your existing balance.
goldthor ยท 2 points ยท Posted at 00:10:20 on March 22, 2018 ยท (Permalink)
They're more likely to give you the 0% APR if you are a high spender. They make around 3% everytime you swipe so the more you spend the more they make.
SerixCosplay ยท 1 points ยท Posted at 01:35:08 on March 22, 2018 ยท (Permalink)
I worked for Discover for about two years. When you chat with someone about lowering your APR, the agent literally just clicks a button on your account summary, and it tells them if you are eligible or not. If you are, it will immediately tell them your new APR, which they can then pass on to you. If you aren't, there is a script they have to read saying you're at the lowest rate available. Whether you're eligible or not is completely determined by the system.
MrPlaysWithSquirrels ยท 2 points ยท Posted at 01:46:07 on March 22, 2018 ยท (Permalink)
I called and was given the script that said I was already at the lowest rate (and honestly, it was an extremely low competitive rate). But I asked again to see if I could jump on a promotional rate so I don't have to open up a new card with another provider just to get 0%, and they said... Yep! So it sounds like it's a little of both. Maybe they changed a few systems since you worked there?
SerixCosplay ยท 1 points ยท Posted at 01:12:18 on March 24, 2018 ยท (Permalink)
Awesome, congratulations! Another thing to keep in mind is your account sometimes has promotions available to you, especially if you ever mention possibly cancelling. So, again, a completely system generated offer, but the agent has a bit more control on when to offer it. The promotional rates (12 months 0% interest) fall under that category, while the permanent decreases to your APR don't :)
TylerTheSandwich ยท 1 points ยท Posted at 03:37:01 on March 22, 2018 ยท (Permalink)
I work for a... certain cc company. Often times we donโt have the ability to lower an APR, itโs just not possible, whether itโs due to account history, payment history, or just straight up business decision. Most of the time youโll get a letter that will identify a more specific reason they werenโt able to. Give it 3 months or so and try again, we really donโt mind checking, just please donโt be that jerk that gets irrationally angry when we canโt! :)
ImRuhn ยท 1 points ยท Posted at 03:45:23 on March 22, 2018 ยท (Permalink)
Thereโs nothing you can say unfortunately, your account is either eligible or it isnโt. Usually your not if youโve ended an apr promo within the past 6 months.
MartinMan2213 ยท 1 points ยท Posted at 04:20:03 on March 22, 2018 ยท (Permalink)
You could literally say โAre there any special offers on my account for (insert what you want)?โ
Exp10510n ยท 118 points ยท Posted at 22:02:30 on March 21, 2018 ยท (Permalink)
After reading your success, I got on their online chat, and same thing! 0% for 12 months! I've been trying to claw my way out of debt, but the high interest along with high balance has made it hard. This will save me literally over $1000!
Today is a good day!
Seeking_Adrenaline ยท 29 points ยท Posted at 22:09:00 on March 21, 2018 ยท (Permalink)
The APR is applied to an existing balance? Are tou sure not just for the next 12 months of purchases? Noob here
๐๏ธ Stone-J ยท 62 points ยท Posted at 22:13:40 on March 21, 2018 ยท (Permalink)
This only applies to new purchases starting the following day, not an existing balance.
fuckimbackonreddit9 ยท 2 points ยท Posted at 23:09:20 on March 21, 2018 ยท (Permalink)
Iโm just going to piggy back with a question. Iโm about to ask through online chat for lowering my APR, if they accept it, would I be able to ask for a credit line increase later on in a month or two? Iโve been at $750 as my credit line and my balance usually ends up being around $230, but since Iโm moving to a city for my job after graduation, a credit increase would be helpful
Randy_901 ยท 1 points ยท Posted at 23:23:35 on March 21, 2018 ยท (Permalink)
Which Company is your Credit Card through? It may be wise to see which companies do a hard pull vs soft pull on credit so you don't take a hit. Capital one has an option to request online with a soft pull only. If you haven't asked previously within the last 6 months, they usually obliged. Discover does a hard credit pull. However, they voluntarily increase limits every now and then.
fuckimbackonreddit9 ยท 1 points ยท Posted at 23:47:07 on March 21, 2018 ยท (Permalink)
Discover, I just went on their website and was able to increase my credit limit.
My account wasnโt open long enough to get the 0% APR, I have to check back in a few months. So I marked that in my calendar
Randy_901 ยท 1 points ยท Posted at 04:11:48 on March 22, 2018 ยท (Permalink)
Tread lightly on requesting future credit limit increases. Like I mentioned, Discover does a hard pull for CL increases. These hard pulls stay on your report for two years. This can begin to negatively impact your credit score even if your lowering your debt to credit ratio. Just a heads up.
Exp10510n ยท 20 points ยท Posted at 22:17:09 on March 21, 2018 ยท (Permalink)
It only applies to new purchases. But it's still better than nothing
suingyou ยท 23 points ยท Posted at 22:43:31 on March 21, 2018 ยท (Permalink)
You should edit your post. You don't want to give people the false impression that they can get out of debt by asking for a lower APR.
dirtydela ยท 3 points ยท Posted at 23:01:46 on March 21, 2018 ยท (Permalink)
You canโt borrow your way out of debt
Belazriel ยท 11 points ยท Posted at 23:25:53 on March 21, 2018 ยท (Permalink)
No, but lowering the interest on their current balance to 0 would be a great help for most people.
dirtydela ยท -2 points ยท Posted at 23:55:35 on March 21, 2018 ยท (Permalink)
I donโt think itโs that huge if youโre trying to get out of debt. If youโre not, then 0% for a year doesnโt really matter since at the end of those periods most of the time all of the past interest gets charged anyway and will have had no effect. It wonโt hurt but if you let it make you feel like you did something and make you pay off debt slower then it seems like kind of a zero sum transaction.
dirtydela ยท 1 points ยท Posted at 23:00:40 on March 21, 2018 ยท (Permalink)
If youโre trying to get out of debt this doesnโt matter then does it? It wonโt actually save you $1000
ImHerWonderland ยท 1 points ยท Posted at 04:24:19 on March 22, 2018 ยท (Permalink)
Balance transfer?
xtreme217 ยท 1 points ยท Posted at 15:05:43 on March 22, 2018 ยท (Permalink)
The APR is applied to new purchases, but you can contact an account manager and they can set you up with a 0% over 12months for your existing balance, but they will charge you a % of the total cash value that they loan you. Ie, if you ask for $3,000, they will charge you $90 And then you pay the rest of your balance off over the next 12months.
Letscurlbrah ยท 10 points ยท Posted at 23:51:04 on March 21, 2018 ยท (Permalink)
So you are going into debt to furnish an apartment? That sounds like a bad idea.
salgat ยท 2 points ยท Posted at 00:44:09 on March 22, 2018 ยท (Permalink)*
Yeah, surprised no one is saying anything in a /r/personalfinance thread... Credit cards to finance anything but emergencies is a huge red flag.
EDIT: To clarify, I mean finance anything they can't afford the monthly payment for to clear out the balance.
Letscurlbrah ยท 3 points ยท Posted at 04:56:15 on March 22, 2018 ยท (Permalink)
PF is a default sub now isn't it? It would explain all the idiots clamoring over this 0% APR.
gbeezy09 ยท 2 points ยท Posted at 01:03:51 on March 22, 2018 ยท (Permalink)
You can use the cards to make purchases on amazon or whatever the quarter shopping may be and use the card to your advantage. As long as you're budgeting correctly, of course.
salgat ยท 3 points ยท Posted at 01:28:47 on March 22, 2018 ยท (Permalink)
Credit cards in general are very smart due to both the rewards and protections, I just mean the part about spending beyond your means.
Letscurlbrah ยท 1 points ยท Posted at 04:53:50 on March 22, 2018 ยท (Permalink)
But you can do that with a 50% APR card, provided you pay your balance it won't matter. The person I was replying to was implying the intended to carry a balance, which is terrible.
yummers511 ยท 1 points ยท Posted at 01:34:54 on March 22, 2018 ยท (Permalink)
Some people knock credit cards but then say they use a debit card for everything, which is an even worse idea in my opinion. This is assuming you are able to pay the credit card balance every month.
basyin ยท 1 points ยท Posted at 10:16:22 on March 22, 2018 ยท (Permalink)
Not if that debt is at 0% interest. Think of it this way, before they would have had to only buy what they could pay off by the end of the month to have an effect 0% interest rate - so if you're not getting paid enough to furnish your apartment you might get a mattress off Amazon, and a couch off of craigslist and call it good. Then the next month get a bedframe and a dresser, etc. etc. If you have 0% interest for 3 months, you can more fully furnish your apartment based on what you can pay back in 3 months which prevents this piecemeal scheme which overall is very time inefficient and also allows you to maybe buy something a little nicer that you won't have to replace within a year.
But yeah, if they can't pay it off within the 0% window, then it is a bad idea.
Letscurlbrah ยท 1 points ยท Posted at 16:00:20 on March 22, 2018 ยท (Permalink)
But that doesn't happen, which is why card companies offer this, they know people like the OP will but a bunch of crap they don't have the cash for, with hope in their hearts about paying it off. Then they don't, and they get hit with a ton of interest.
Moistmaker1 ยท 1 points ยท Posted at 00:14:20 on March 22, 2018 ยท (Permalink)
No. Iโm choosing to use a 0% credit card for free rewards opposed to my debit card.
kevkev667 ยท 3 points ยท Posted at 03:23:04 on March 22, 2018 ยท (Permalink)
You could just do that by paying the balance every month anyway
Letscurlbrah ยท 1 points ยท Posted at 04:57:24 on March 22, 2018 ยท (Permalink)
Yeah I use my high% APR card to get rewards. Because I pay the balance every month, the APR doesn't matter at all.
guyutenyc ยท 3 points ยท Posted at 22:26:01 on March 21, 2018 ยท (Permalink)
How long has your account been open? I have a credit card that's been open since 2015 and was thinking of trying to do this since it's my highest APR card.
SpotsOnTheCeiling ยท 1 points ยท Posted at 01:46:43 on March 22, 2018 ยท (Permalink)
They told me they couldn't because mine's been open less than a year, you should be good to go.
๐๏ธ Stone-J ยท 1 points ยท Posted at 19:20:21 on March 21, 2018 ยท (Permalink)
Glad I could help! :)
michaelcmetal ยท 1 points ยท Posted at 00:15:46 on March 22, 2018 ยท (Permalink)
They will not do this for a current balance. Only future purchases. We tried and they were adamant.
bigmeech85 ยท 1 points ยท Posted at 01:23:14 on March 22, 2018 ยท (Permalink)
I'm pissed, I called them last week to lower it and they dropped it to 19%. Now everyone's getting 0%?
DSJ13 ยท 1 points ยท Posted at 03:09:37 on March 22, 2018 ยท (Permalink)
Me too.
TakeMeToTheVolcano ยท 0 points ยท Posted at 23:37:12 on March 21, 2018 ยท (Permalink)
This isnโt success, why is everyone so excited about this? I feel like Iโm taking crazy pills here. If you need to use a credit card to spread purchases over the next year itโs because you canโt afford them. 0% interest deals are a dime a dozen there are cards everywhere that will give that to you - itโs not free money youโre borrowing it from yourself...
If you do have to buy something this way for cash flow reasons it shouldnโt be exciting it should make you very uncomfortable and want to pay it off ASAP.
Moistmaker1 ยท 3 points ยท Posted at 00:13:31 on March 22, 2018 ยท (Permalink)
I donโt need to use my credit card to spread the purchases. Iโm choosing to because itโs free rewards.. with no risk! To each their own my friend, thanks for your opinion on my โsuccessโ
TakeMeToTheVolcano ยท 2 points ยท Posted at 00:17:23 on March 22, 2018 ยท (Permalink)
Someone else called it a success sorry, thought that was you. Anyway yeah Iโm sure youโve got it under control, Iโm just mystified by the general amazement in this thread that you donโt have to pay 16+% interest (when really no one should do that ever)
classicfavorite ยท 1 points ยท Posted at 03:03:36 on March 22, 2018 ยท (Permalink)
I'm in amazement here as well. I don't even know what my credit card interest rates are, nor do I care.
Magnus_Mercurius ยท 1 points ยท Posted at 13:07:34 on March 22, 2018 ยท (Permalink)
Sometimes people like to have liquid assets. If you have $5,000 in the bank, and need to spend $1,000, why not charge it at 0% and spread out paying it back over 12 months? Given the time-value of money, youโre actually coming out about 1-2% positive.
TakeMeToTheVolcano ยท 1 points ยท Posted at 15:00:10 on March 22, 2018 ยท (Permalink)
Yeah my point is this often makes people feel like they still have $5k when they actually donโt, and that maybe they donโt โneedโ to spend $1000 but once they hear the 0% thing it feels like โoh great now I can afford thisโ
An_emperor_penguin ยท 0 points ยท Posted at 00:24:55 on March 22, 2018 ยท (Permalink)
You could use the card instead of cash even if you don't need to, there are worse ideas then "borrowing from yourself" at 0% for necessary purchases.
TakeMeToTheVolcano ยท 1 points ยท Posted at 00:41:17 on March 22, 2018 ยท (Permalink)
Well yeah but how many people do it responsibly? Like if you spend 5 cents more than you otherwise would have you just lost and the credit card companies win. If you can mentally say ok I would buy this exact thing for this exact price no matter what but Iโm just gonna pay for it later then thatโs one thing but I really donโt think thatโs what weโre talking about. Weโre talking about people giving themselves an excuse to overspend
AnonUser626 ยท 1 points ยท Posted at 01:02:31 on March 22, 2018 ยท (Permalink)
Just curious, do you take any hits inquiry wise doing this? I am also moving next month and this would be awesome to have
Moistmaker1 ยท 2 points ยท Posted at 01:15:09 on March 22, 2018 ยท (Permalink)
I personally did not take a hit, I can only speak for myself though. Good luck!
ImRuhn ยท 1 points ยท Posted at 03:48:42 on March 22, 2018 ยท (Permalink)
There wouldnโt be any inquiry for getting your apr lowered.
Blleak ยท 0 points ยท Posted at 22:47:05 on March 21, 2018 ยท (Permalink)
Did you though?
tomnoddy87 ยท 346 points ยท Posted at 21:12:23 on March 21, 2018 ยท (Permalink)
does this work on student loans? haha
[deleted] ยท 343 points ยท Posted at 21:17:43 on March 21, 2018 ยท (Permalink)
Jumps on phone with Great Lakes
[deleted] ยท 221 points ยท Posted at 22:32:23 on March 21, 2018 ยท (Permalink)
It should be called My great lake of debt ๐ฟ
FalconsSuck ยท 77 points ยท Posted at 22:57:40 on March 21, 2018 ยท (Permalink)
I was really hoping for more than just on-screen confetti when I paid them off...
FancyNewBeesley ยท 99 points ยท Posted at 23:11:41 on March 21, 2018 ยท (Permalink)
Wait. They give you on screen confetti? Asking since mine will never go away
FalconsSuck ยท 70 points ยท Posted at 23:13:28 on March 21, 2018 ยท (Permalink)
On-screen confetti. Nothing official in the mail. Definitely $20K well spent.
FancyNewBeesley ยท 22 points ยท Posted at 23:40:50 on March 21, 2018 ยท (Permalink)
I shouldnโt be as disappointed as I am.
McClural ยท 24 points ยท Posted at 04:19:23 on March 22, 2018 ยท (Permalink)
I hope my student loans have that windows solitaire winning effect when I pay them off.
ColleySueAnn ยท 23 points ยท Posted at 23:18:43 on March 21, 2018 ยท (Permalink)
The confetti made my day! Almost made the 11 years of payments worth it.
Skadwick ยท 21 points ยท Posted at 23:14:51 on March 21, 2018 ยท (Permalink)
Maybe they'll have added this feature when I pay off all of mine in 80 years.
DubDoubley ยท 1 points ยท Posted at 15:48:06 on March 22, 2018 ยท (Permalink)
sends 1 text message balloon gif
hippiekyle ยท 2 points ยท Posted at 00:31:51 on March 22, 2018 ยท (Permalink)
Do you have to pay them all off? I paid off one account (the second account has multiple loans, and Iโve paid off a few of them as well). I never got any confetti. I feel gypped.
elyasafmunk ยท 2 points ยท Posted at 03:29:59 on March 22, 2018 ยท (Permalink)
Haha Sallie Mae does the same. They gave you a gif too lol
Cazzyodo ยท 25 points ยท Posted at 22:20:35 on March 21, 2018 ยท (Permalink)
Great Lakes?
::Shakes fist::
datareinidearaus ยท 15 points ยท Posted at 22:29:44 on March 21, 2018 ยท (Permalink)
"You're increasing my rates? Just for asking?"
No, don't worry, current rates are fine
NewToMech ยท 3 points ยท Posted at 00:15:14 on March 22, 2018 ยท (Permalink)
Unethicallifeprotip: Default on your loan and a credit agency will buy it for pennies on the dollar, then negotiate with them!
caboosetp ยท 6 points ยท Posted at 00:32:08 on March 22, 2018 ยท (Permalink)
AKA how to play golf with your credit score
richardsuckler69 ยท 4 points ยท Posted at 02:33:32 on March 22, 2018 ยท (Permalink)
Who needs a credit score anyways??? Rich people??? Pff
tomnoddy87 ยท 7 points ยท Posted at 21:18:54 on March 21, 2018 ยท (Permalink)
just checked around Navient haha
red-bot ยท 1 points ยท Posted at 23:40:50 on March 21, 2018 ยท (Permalink)
OP please deliver
[deleted] ยท 1 points ยท Posted at 23:46:54 on March 21, 2018 ยท (Permalink)
I'm still in the 6 month grace period, which will technically get to be renewed come December because that's when I actually finish (I'm in community college doing classes but have 1 class left in my degree). So I can't even really do this. Lmao.
DreadPirateLink ยท 1 points ยท Posted at 10:38:42 on March 22, 2018 ยท (Permalink)
Let us know how it goes when you finally reach a live person in 3 days.
[deleted] ยท 50 points ยท Posted at 22:39:32 on March 21, 2018 ยท (Permalink)*
[removed]
DELOUSE_MY_AGENT_DDY ยท 17 points ยท Posted at 23:58:32 on March 21, 2018 ยท (Permalink)
Could you theoretically transfer your student loan to a credit card or mortgage to lower the rate?
blacksockdown ยท 6 points ยท Posted at 01:11:31 on March 22, 2018 ยท (Permalink)
It is very unlikely to get a lower rate. Mortgages must be secured by real estate so you would have to have a lot of equity our down payment and even then the rate would not be much lower. Credit cards are higher interest since they are not secured by any assets.
DELOUSE_MY_AGENT_DDY ยท 2 points ยท Posted at 01:24:10 on March 22, 2018 ยท (Permalink)
How would equity affect this? Wouldn't the rate be the same?
blacksockdown ยท 3 points ยท Posted at 01:53:09 on March 22, 2018 ยท (Permalink)
Banks require that a mortgage is secured by equity that is worth more than the mortgage. To be able to refinance student loan debt into a mortgage, the amount loaned for the house plus the amount refinanced can't be more than 85% of what the house is worth. Mortgages also have high closing costs as well.
You can do a personal loan but it doesn't offer the same protections as a true student loan (i.e. adjusted payments based on your income).
tomnoddy87 ยท 3 points ยท Posted at 14:12:29 on March 22, 2018 ยท (Permalink)
My sister used the credit card checks that had 0% interest promotions and would pay off her loans in bursts that way. Throw 5k of interest free credit card at it and pay off the 5k over the length of the promotion while still paying normal payments on the loan.
[deleted] ยท 1 points ยท Posted at 17:07:32 on March 22, 2018 ยท (Permalink)
I've been considering doing this but never pull the trigger on it.
balathustrius ยท 1 points ยท Posted at 16:14:33 on March 22, 2018 ยท (Permalink)
Possibly. But it's worth noting that making an unsecured debt (credit card, student loan) into a secured debt (mortgage) is generally a Very Bad Idea.
s7aind ยท -1 points ยท Posted at 05:29:13 on March 22, 2018 ยท (Permalink)
No because you could just default and declare bankruptcy to wipe it out.
4K77 ยท 8 points ยท Posted at 05:52:50 on March 22, 2018 ยท (Permalink)
Actually you can. You could pay it off with a credit card and Bam, it's effectively transferred. Or you take an equity loan and pay the student loan with that cash.
MajorCreeep ยท 2 points ยท Posted at 16:05:10 on March 22, 2018 ยท (Permalink)
My loan servicer doesn't allow credit card payments:(
mojavespider25 ยท 1 points ยท Posted at 19:17:50 on March 22, 2018 ยท (Permalink)
Most don't.
[deleted] ยท 1 points ยท Posted at 00:20:57 on March 22, 2018 ยท (Permalink)
[removed]
Mrme487 ยท 1 points ยท Posted at 01:28:37 on March 22, 2018 ยท (Permalink)
Your comment has been removed because we don't allow political discussions, political baiting, or soapboxing (rule 6).
MasterRivenKR ยท 1 points ยท Posted at 01:31:03 on March 22, 2018 ยท (Permalink)
I work min wage and have one dependency claimed on my record with the loan company (Mohela). I don't have to pay anything and the bill do doesbt add up against me for a full year, and all I have to do is call and renew before the year is up to get it again just like that... Definitely call.
[deleted] ยท 1 points ยท Posted at 02:48:46 on March 22, 2018 ยท (Permalink)
[deleted]
tomnoddy87 ยท 1 points ยท Posted at 14:10:35 on March 22, 2018 ยท (Permalink)
interest still accrues, not doing that.
axmantim ยท 171 points ยท Posted at 19:04:43 on March 21, 2018 ยท (Permalink)
Very interesting. Did you just call and ask for a lower rate, or did you ask for their 0% rate they give new members?
๐๏ธ Stone-J ยท 140 points ยท Posted at 19:19:41 on March 21, 2018 ยท (Permalink)
I brought up their online chat support and just asked for a lower rate.
axmantim ยท 73 points ยท Posted at 19:26:39 on March 21, 2018 ยท (Permalink)
sweet, I might do that. I have never paid them an interest payment in 17 years so it might not be useful, but it's always good to have that just in case.
๐๏ธ Stone-J ยท 39 points ยท Posted at 19:29:05 on March 21, 2018 ยท (Permalink)
My thoughts exactly! If you do, let us know if they give you the same offer.
Not_a_CPA ยท 93 points ยท Posted at 20:08:28 on March 21, 2018 ยท (Permalink)*
I'm trying it right now -- will report back with results.
Edit: I'll be damned, it worked. 0% for 12 months.
๐๏ธ Stone-J ยท 25 points ยท Posted at 21:47:23 on March 21, 2018 ยท (Permalink)
You and a lot of others it seems. Wonder if they have a promotion going right now.
Julia_Kat ยท 19 points ยท Posted at 22:43:34 on March 21, 2018 ยท (Permalink)
Damn, I wish I knew this before I got another 0% interest card. I have the cash to pay off my healthcare bills but I would rather pay off the bills I have over time and get rewards. Oh well. Maybe next year. ๐ค
omegasus ยท 17 points ยท Posted at 01:00:40 on March 22, 2018 ยท (Permalink)
I tried and didn't get the offer, just 3% off my current rate. Better than nothing I guess
Berzerk06 ยท 2 points ยท Posted at 06:19:26 on March 22, 2018 ยท (Permalink)
They offered me the same but I said I was looking to buy something soon that 0% or close to 0% temporarily would help greatly and they came back with the 0% for 12 months offer.
omegasus ยท 1 points ยท Posted at 14:12:25 on March 22, 2018 ยท (Permalink)
Dang I was gonna try something like that but figured that if anything, they would push back because they'd want the interest from a big purchase. They really didn't seem to go above and beyond for me, typical
chaseoes ยท 11 points ยท Posted at 23:06:41 on March 21, 2018 ยท (Permalink)
Don't do that. Save the offer for when you actually need it. What if you take it now and have an emergency in 11 months?
berrin1223 ยท 2 points ยท Posted at 00:48:05 on March 22, 2018 ยท (Permalink)
You don't know when it's ending. What if it ends in 10 months?
axmantim ยท 1 points ยท Posted at 00:14:34 on March 22, 2018 ยท (Permalink)
Good point.
how_is_u_this_dum ยท 0 points ยท Posted at 11:58:35 on March 22, 2018 ยท (Permalink)
Then you call again when it's set to expire...
xtreme217 ยท 1 points ยท Posted at 15:06:59 on March 22, 2018 ยท (Permalink)
I just called them and asked if they have any 0% offers running and they responded with...why yes we do! You could approach the conversation in multiple ways
fiirmoth ยท 78 points ยท Posted at 19:23:27 on March 21, 2018 ยท (Permalink)
I have never had success with getting any of my cards to lower the interest rate on an existing balance. Kudos. I did, however, have a card with 0% balance transfer. I asked them to lower to 0% for current balance. They refused. So, I transferred to another card and then immediately back, which worked. Keep that in mind as a trick too
venusprefers ยท 54 points ยท Posted at 20:24:56 on March 21, 2018 ยท (Permalink)
only issue is that you're usually paying a fee to transfer the balance each time. So, while you may still get 0%, you've just paid 6% (3% each transfer) on the whole balance.
gdq0 ยท 33 points ยท Posted at 22:04:06 on March 21, 2018 ยท (Permalink)
lots of cards don't have a balance transfer fee.
https://www.doctorofcredit.com/master-list-no-fee-no-apr-balance-transfers/
fiirmoth ยท 2 points ยท Posted at 21:15:26 on March 21, 2018 ยท (Permalink)
Agreed, better to be able to just get 0% but in my case the fees were made up within like 2 months of not paying the interest so it was worth it
blackdynomitesnewbag ยท 1 points ยท Posted at 12:41:03 on March 22, 2018 ยท (Permalink)
Still better than 20% APR if it takes you a while to pay it.
DehydratingPretzel ยท 1 points ยท Posted at 18:09:52 on March 22, 2018 ยท (Permalink)
Very True! However, sometimes that 3% outweighs the interest accumulated over the time it would take to pay the debt.
Everyone do your math.
trapper2530 ยท 1 points ยท Posted at 18:38:10 on March 22, 2018 ยท (Permalink)
So you're saying granfsryour balance. Call them up get 0% then tranferback?
frequent_flaya ยท 14 points ยท Posted at 21:56:12 on March 21, 2018 ยท (Permalink)
They canโt lower it on existing balances due to federal regulations. If they lower your APR it will always be on future purchases.
fiirmoth ยท 6 points ยท Posted at 00:18:10 on March 22, 2018 ยท (Permalink)
Did not realize that, Thank you. Good to know
SuperPheotus ยท 2 points ยท Posted at 03:48:18 on March 22, 2018 ยท (Permalink)
I got them to lower my apr a couple weeks ago but they also make my card unusable for the duration. I have a balance so did they just do basically nothing? Or will it count on future months even though it's the same money?
Sorry I know this is probably a stupid question
EclecticMind ยท 3 points ยท Posted at 08:03:12 on March 22, 2018 ยท (Permalink)
Source? Iโve only seen evidence to the contrary.
Soranos_71 ยท 7 points ยท Posted at 21:38:30 on March 21, 2018 ยท (Permalink)
I always had success but a few times once was Discover I had to sign up for auto pay as part of the agreement.
notheretomakefrainds ยท 274 points ยท Posted at 18:56:42 on March 21, 2018 ยท (Permalink)
This is a great point. The same is often also true about credit limit increases. Only once have I ever been denied an increase in my credit card limit with either AmEx or USBank
lemonhighfives ยท 99 points ยท Posted at 19:05:59 on March 21, 2018 ยท (Permalink)
Totally agree. Just to add: most credit card companies let you request a limit increase every 6-12 months. I have a calendar reminder for my cards and I think I've only been denied once. Even if denied, doesn't hurt to request it and get denied and then try again in 6-12 months.
TheVermonster ยท 102 points ยท Posted at 19:42:55 on March 21, 2018 ยท (Permalink)
Only if it's a soft pull. Repeatedly asking for a CLI and granting a hard pull will hurt.
lemonhighfives ยท 79 points ยท Posted at 19:57:34 on March 21, 2018 ยท (Permalink)
Never gotten a hard pull from requesting an increase. Every one of my card's websites has a notice that a request is only a soft pull and I've been doing this every six months for 3 years or so
TheVermonster ยท 53 points ยท Posted at 20:12:51 on March 21, 2018 ยท (Permalink)
True, they will tell you. Chase will only do HPs. Citi will do a SP, but if you want more they do a HP. Amex will bounce between the two. BoA is generally a HP.
lemonhighfives ยท 32 points ยท Posted at 20:17:43 on March 21, 2018 ยท (Permalink)
Just did a request that was approved 4 months ago with Chase and didn't get a hard pull. Possibly dependent on the type of card? Capital One is another that will just do a soft pull unless you want more than they approve.
imbeahp ยท 14 points ยท Posted at 22:56:09 on March 21, 2018 ยท (Permalink)
I can verify the Chase point. Just increased my limit about two weeks ago and I made sure the representative was clear in telling me that it was NOT a hard pull to request an increased limit.
TheIrish ยท 9 points ยท Posted at 21:08:45 on March 21, 2018 ยท (Permalink)
Just confirming, BoA was a hard pull round the end of last year.
monty845 ยท 3 points ยท Posted at 00:13:35 on March 22, 2018 ยท (Permalink)
BOA told me they were going to do a hard pull when I asked. I agreed, got the increase and it never appeared on my credit report... But my old limit was really low, and I had started paying my full balance twice a month to avoid hitting it...
rahulio_ ยท 1 points ยท Posted at 03:42:37 on March 22, 2018 ยท (Permalink)
What about Wells Fargo?
TheVermonster ยท 1 points ยท Posted at 03:54:17 on March 22, 2018 ยท (Permalink)
I'm not sure, I won't ever bank with them. I'd assume it's a hard if you ask. But I bet it's a soft on the cards they open in your name.
If you really want to know, just ask the CSR. They are obligated to say something like "you understand we will retrieve a credit report for this decision." Any competent CSR will know what a hard pull is, so don't count on a WF CSR to answer that for you.
rahulio_ ยท 1 points ยท Posted at 03:55:24 on March 22, 2018 ยท (Permalink)
CSR is credit score report, I assume?
TheVermonster ยท 2 points ยท Posted at 04:02:53 on March 22, 2018 ยท (Permalink)
Oh, no. Customer Service Representative.
Sorry I shouldn't use acronyms and assume people know what I mean.
rahulio_ ยท 1 points ยท Posted at 04:03:27 on March 22, 2018 ยท (Permalink)
Well, that's really different! Good thing I asked.
Just-Touch-It ยท -3 points ยท Posted at 22:37:18 on March 21, 2018 ยท (Permalink)*
Chase didnโt do a hard pull when I applied and when I later asked for an increase. Only reason I remember is because of how shocked I was when I checked my credit score expecting it potentially dip below 700 only to find it had actually rose to my all time high at 799. Depends a lot on the customer I think than the company sometimes.
Edit: not sure why the downvotes. Sorry if it came off kind of as like showboating or anything but that was not my intent. Just wanted to throw in my experience in case anyone was hesitant about opening a new card even with having good credit. Not sure if what occurred to me is the norm though so you should probably ask before applying. Like the guy who later responded to me said, I assumed I would get a hard check but it never did.
TheVermonster ยท 1 points ยท Posted at 22:40:53 on March 21, 2018 ยท (Permalink)
There is zero chance they didn't do a hard pull for a new line of credit. Did you check all 3 reports?
Just-Touch-It ยท 1 points ยท Posted at 22:46:42 on March 21, 2018 ยท (Permalink)
Discover did do a hard check on my credit during the application though. Chase approved me instantly.
Just-Touch-It ยท 0 points ยท Posted at 22:45:32 on March 21, 2018 ยท (Permalink)
I did not but my increase with Discover a few months back didnโt influence my score either. Not sure if itโs make any difference but I have over 8 years of credit, never missed a payment, keep my utilization rate below 10%, and have $19,000 in available credit so maybe if youโre in good enough standing they donโt do hard checks. Honestly I have no clue but I didnโt notice any difference besides it actually increasing ironically.
Not_a_CPA ยท 2 points ยท Posted at 20:04:53 on March 21, 2018 ยท (Permalink)
Bank of America did a hard pull for a line increase on me. Only one I've ever had do that though.
mostcleverusername1 ยท 1 points ยท Posted at 02:24:20 on March 22, 2018 ยท (Permalink)
BMO Harris does a hard pull which is why I will never again request an increase from them, not worth. Discovers increase request process is so freaking simple. I love it. My CU has a really good auto decision engine so I've never had to wait for a decision. Made me even more annoyed by BMO, hard pull and had to wait over a business day for the decision.
TheFireSwamp ยท 1 points ยท Posted at 02:26:16 on March 22, 2018 ยท (Permalink)
Ally is a hard pull. I stick with the inces that have free credit score monitoring. I figure they already know my score? Capital one increased mine from $10k to $13k. Ally from $1k to 1500. I pay off 100% on all 5 of my cards. Not sure why Ally, one of my older cards is the lowest limit
ntfaw ยท 15 points ยท Posted at 21:56:59 on March 21, 2018 ยท (Permalink)
Never had a CC. What's a soft pull vs a hard pull?
TheVermonster ยท 30 points ยท Posted at 22:08:59 on March 21, 2018 ยท (Permalink)
It refers to the way the creditor requests information from your credit report. A soft pull won't hurt your score. In fact, almost any creditor can do a soft pull on you at any time. It gives limited information, the specifics I'm not positive of off the top of my head.
A hard pull is a full report of all details on your credit report. This will hurt your score. So generally you have to approve it, and it's normally for a new line of credit.
ntfaw ยท 2 points ยท Posted at 22:11:53 on March 21, 2018 ยท (Permalink)
Thank you!
RogalianRadiance ยท 2 points ยท Posted at 22:28:43 on March 21, 2018 ยท (Permalink)
Simplest of terms: hard pull will affect your credit score. Soft pull won't.
waitingtodiesoon ยท 1 points ยท Posted at 03:34:14 on March 22, 2018 ยท (Permalink)
Why does it hurt?
RogalianRadiance ยท 1 points ยท Posted at 05:29:12 on March 22, 2018 ยท (Permalink)
Only a little. And only for a few months. It hurts because someone other than you is looking at your credit, which usually means you are seeking to get more credit. Trying to open up more credit than you already have makes you a potential liability for creditors, new accounts are more likely to pay late.
waitingtodiesoon ยท 1 points ยท Posted at 13:46:47 on March 22, 2018 ยท (Permalink)
Ah ok
DehydratingPretzel ยท 1 points ยท Posted at 18:05:49 on March 22, 2018 ยท (Permalink)
If you've never had a CC. Get a small one to pay gas with and pay it off every month!
Length of credit history is factor in your score. Its my only 'orange' mark on my credit score right now and drives me nuts that i cant fix it.
edit: or your netflix, whatever, something small.
the_little_engineer ยท 2 points ยท Posted at 23:16:27 on March 21, 2018 ยท (Permalink)
I have gotten hard pulls on almost every credit limit increase I have asked for yet it has never effected my score by more than 10 points and only for the month immediately following the pull. I know they are hard pulls because they tell me and ask for consent before they do it. I really don't think hard pulls are that big of a deal. For reference I ask for increases every 6 months for all 3 of my cards which are spaced exactly 2 months apart. So every 2 months for the past year I've been getting increases with hard pulls and have had near 0 overall effect on my score.
Just anecdotal evidence
BroadStreet_Bully5 ยท 2 points ยท Posted at 22:43:58 on March 21, 2018 ยท (Permalink)
Hard pull isnโt that bad, especially when youโre countering it with my available credit. The pull will fall off but the credit increase stays. I have over an 800, and thereโs no point in maintaining that kind of score, if youโre not going to take advantage of it and throw your weight around. My equifax has like 12 inquiries and still came back with an 850 a couple months ago. They donโt hurt that much.
TheVermonster ยท 4 points ยท Posted at 23:08:12 on March 21, 2018 ยท (Permalink)
Yeah, in specific cases they don't matter. But it's generally bad to throw around advice that applies to a small prcentage of people. Hard pulls always hurt, but as you said, a credit line increase will offset it. That is, if you get the increase.
BroadStreet_Bully5 ยท 4 points ยท Posted at 23:10:52 on March 21, 2018 ยท (Permalink)
They donโt hurt that much, was the point. That applies to everyone. If you have shit credit, you probably shouldnโt be asking for an increase anyway.
Waclawa ยท 1 points ยท Posted at 22:41:15 on March 21, 2018 ยท (Permalink)
I'm not really good with financial stuff. One of my cards got increased randomly. Is there any benefit in asking for an increase? I'm in payoff mode right now and doubt I will really use them much anymore. I'll probably close the second one once I pay it off.
theSabbs ยท 3 points ยท Posted at 23:11:37 on March 21, 2018 ยท (Permalink)
The bank hopes you will use more credit so you will end up paying more interest.
If you ignore the limit increase and continue to pay down your credit cards, it will work in your favor. This is because a large portion of your credit score comes from your credit utilization percent.
So for example if you have a card with a $1,000 limit and you owe $500, your utilization is 50%. If your credit card limit is increased to $2,000 and you make no new charges, your utilization now drops to 25%. To keep a good credit score it's suggested not to go above 10% utilization. This is of course a super simple example and can get more complex with more cards, etc, but I hope I explained well.
Edit: also once you pay off a card, it's smart to keep it open as long as it's not charging you a fee to keep it open. This keeps your credit limit higher, which helps your credit utilization stay low.
Cainga ยท 1 points ยท Posted at 18:09:44 on March 22, 2018 ยท (Permalink)
Does it ever hurt to ask for more limit when you donโt need it? I have quite a few cards with an 800 credit score and $60k of limit between them all. I guess I could keep asking each one for more limit but itโs kind of ridiculous at this point as I could buy a house on credit.
bhambetty ยท 38 points ยท Posted at 21:28:31 on March 21, 2018 ยท (Permalink)
Ha, my Capital One card has been giving me CL increases automatically every 6 months. I didn't get one for a while so I requested an increase online and was declined because I don't use my card enough. My CL is currently $12k and I carry a $0 balance and maybe spend $50/month on that card. Fair enough I guess.
n8cnny ยท 19 points ยท Posted at 21:56:03 on March 21, 2018 ยท (Permalink)
Which Capital One card do you have? I have their "platinum" card and it's like pulling teeth to get an increase. It is my lowest CL card.
bhambetty ยท 14 points ยท Posted at 22:35:15 on March 21, 2018 ยท (Permalink)
Quicksilver One. It was my first CC and I got it when my credit score was miserable. I carried a large balance on it for a long time and when I finally paid it off they stopped giving me CL increases, even though my credit score is more than 100 points above where it was when I first got the card.
n8cnny ยท 7 points ยท Posted at 22:38:35 on March 21, 2018 ยท (Permalink)
So funny, My credit score was in the low 700's when I got my platinum card. They apparently care very strongly on high and current balance. I'm currently in the low 8's and my CL is $3800, comical.
varnalama ยท 8 points ยท Posted at 23:56:12 on March 21, 2018 ยท (Permalink)
As someone who works in the credit card industry, the score by itself is not enough to warrant a higher CL increase. We really do look to see if you require it at all. If you have a credit limit of $4,000 but hardly go above $500 on the card, we really won't go out of our way to give you the credit limit. Usually your annual income also comes into play.
MajorCreeep ยท 2 points ยท Posted at 16:08:32 on March 22, 2018 ยท (Permalink)
since your credit score is higher you may be eligible for a product change to the regular quicksilver card then you won't have an annual fee
bhambetty ยท 3 points ยท Posted at 17:03:59 on March 22, 2018 ยท (Permalink)
Brilliant! I requested the upgrade via online chat and they granted it. Thanks so much for the tip!
jt121 ยท 5 points ยท Posted at 00:22:07 on March 22, 2018 ยท (Permalink)
I've got a Quicksilver, just got a CLI yesterday from 9k to 13k. I rarely hit 1k balance on the card and always PIF, but never get auto-increases because I ask every 6 months for an increase.
My Chase ones, however... I have 3 and I've never gotten an auto-increases and I rarely ask for a CLI because of the hard pull.
stfsu ยท 2 points ยท Posted at 00:31:51 on March 22, 2018 ยท (Permalink)
I totally regret getting Capital One, they sucker you in by saying that they'll give you a credit line increase after six months. Mine is $1,000 and I got an email saying that at the six month mark I'd be at $1,500 which is a load of horseshit because the card doesn't even have cashback, so I have no incentive to use it compared to my BofA and Chase cards with higher credit limits.
bhambetty ยท 1 points ยท Posted at 03:37:59 on March 22, 2018 ยท (Permalink)
Which Capital One card do you have? I have the Quicksilver and I get 1.5% cash back. It's not much but it's not nothing.
stfsu ยท 1 points ยท Posted at 23:39:02 on March 22, 2018 ยท (Permalink)
Since I'm building up my credit, I chose the platinum card, now I'm stuck with it so I'm just using it for very small purchases totalling below $40 a month.
bhambetty ยท 1 points ยท Posted at 00:44:55 on March 23, 2018 ยท (Permalink)
Another user recommended this to me elsewhere in this thread and it worked.... Contact capital one and ask them to upgrade your card. I did an online chat with them and they upgraded me to the Quicksilver with no annual fee, no hard pull needed. Can't hurt to ask!
maglen69 ยท 2 points ยท Posted at 02:34:34 on March 22, 2018 ยท (Permalink)
Also have a platinum and can't get an increase.
gdq0 ยท 5 points ยท Posted at 22:01:33 on March 21, 2018 ยท (Permalink)
CL has a lot to do with your income level and how much money you have in the bank (if you bank with that company). I have 7 cards with CL 15k-30k.
BroadStreet_Bully5 ยท 3 points ยท Posted at 22:48:41 on March 21, 2018 ยท (Permalink)
Thatโs because Capital One is a piece of shit company. I never use my Chase and they go stride for stride with my Discover and Bank of America cards. I ditched Capital one a long time ago.
marsist ยท 1 points ยท Posted at 02:08:02 on March 22, 2018 ยท (Permalink)
same thing happened to me, I never use it, and have carried a $0 balance for a while, they denied an increase because there isn't enough recent payment history, oh well, I'll stick to my other cards. I requested an increase on my discover card and they raised it $3k without flinching
elyasafmunk ยท 1 points ยท Posted at 03:28:08 on March 22, 2018 ยท (Permalink)
Same thing for me. First card was capital one. Only place that approved me. They started me off with 500, then increased me to 3k. I never use that card now tho, so my most recent request was denied.
kidikarus0 ยท 16 points ยท Posted at 19:21:10 on March 21, 2018 ยท (Permalink)
Quick question about increases. Would it affect your credit score at all if you request one?
Annabel398 ยท 46 points ยท Posted at 20:16:03 on March 21, 2018 ยท (Permalink)
Net: better score, so do it!
Discover is the best. You know who else is good? Assuming you have a decent credit score, Home Depot and Lowe's will raise your limit to five figures if you tell them you're looking at new appliances...
bubbliefly420 ยท 13 points ยท Posted at 22:24:53 on March 21, 2018 ยท (Permalink)
Discover is freaking awesome!!! I started out with a credit limit of $5100, less than a year later I requested a credit limit increase and....BOOM!!! $9,990
Annabel398 ยท 10 points ยท Posted at 22:26:35 on March 21, 2018 ยท (Permalink)
Keep going, you havenโt reached their ceiling yet ...
BroadStreet_Bully5 ยท 14 points ยท Posted at 22:46:02 on March 21, 2018 ยท (Permalink)
Whatโs their ceiling? Iโm up to $36k, but Bank of America always seems to beat them out for me. I used to ask for small increases, now Iโm just like, I want another $8k, hook it up.
jt121 ยท 7 points ยท Posted at 00:26:02 on March 22, 2018 ยท (Permalink)
I have 4 cards and they total about 34k. I don't and won't ever use all or anywhere near that, but I'm just curious how high it can go. Does income play a significant part in it? I don't make a significant amount more than my total CL, so I wonder if that would cause me to not go any higher?
BroadStreet_Bully5 ยท 14 points ยท Posted at 00:38:56 on March 22, 2018 ยท (Permalink)
Yes, they always ask your income. You can lie for a long time. I lied for years before they actually asked for proof. Under like $100k, they just take your word for it. Then eventually my income actually caught up to my lying, so I can prove it now.
Annabel398 ยท 7 points ยท Posted at 22:48:57 on March 21, 2018 ยท (Permalink)
Ooof , $36K on Discover? Youโve definitely got me beat! I only have two cards over $20K (USAA and a Chase biz card).
kojak488 ยท 2 points ยท Posted at 23:10:15 on March 21, 2018 ยท (Permalink)
Significantly higher than 36.
deepsouthsloth ยท 2 points ยท Posted at 05:27:22 on March 22, 2018 ยท (Permalink)
36, holy cow. They did big bumps for me up to like 20k and it's creeping now. I've got the income to support it, they just kinda stalled out on me. Don't know why, I've been a customer for a decade with flawless history, even did one of their personal loan offers years back. Amex blue cash preferred is my highest line at 30.
ScientificQuail ยท 2 points ยท Posted at 02:18:29 on March 22, 2018 ยท (Permalink)
I started at about the same and Iโm up to about $50k now. So keep going!
KryptCeeper ยท 1 points ยท Posted at 01:35:37 on March 22, 2018 ยท (Permalink)
why the odd numbers? i have discover and i went 500, 750, 1000, then 4000
bubbliefly420 ยท 1 points ยท Posted at 02:15:32 on March 22, 2018 ยท (Permalink)
Not sure why they did it that way.... Honestly, I was happily surprised for it to even be over 3000 to start with and was even happier with the increase :)
KryptCeeper ยท 2 points ยท Posted at 02:28:28 on March 22, 2018 ยท (Permalink)
mine started off low because it was my first cc, had practically no credit when i got it
Houdini47 ยท 1 points ยท Posted at 02:09:37 on March 22, 2018 ยท (Permalink)
how often should you request an increase
bubbliefly420 ยท 1 points ยท Posted at 02:18:59 on March 22, 2018 ยท (Permalink)
Someone else on here posted that you should ask every 6 months or so. I just requested an increase because I was getting close to my limit.
Laphroaig18Lover ยท 21 points ยท Posted at 21:43:58 on March 21, 2018 ยท (Permalink)
Now that is clever!
Annabel398 ยท 15 points ยท Posted at 21:50:31 on March 21, 2018 ยท (Permalink)
Please note that you donโt actually have to buy the appliances. Itโs 100% true that I want to... but I donโt need to.
(Well, I did need a new fridge, but I didnโt buy a washer/dryer to go with, even though I could have done with the CLI they gave me.)
omapuppet ยท 3 points ยท Posted at 21:46:12 on March 21, 2018 ยท (Permalink)
That's in case you want to get two of them.
deepsouthsloth ยท 3 points ยท Posted at 05:21:42 on March 22, 2018 ยท (Permalink)
Agreed. Discover has always been generous with the increases over the years.
And I like to play games with Home Depot, I told them I was looking to build a fence and do a complete reshape of my yard and build a deck. They raised my limit to $10k. I used the special offers for 0% to actually build a fence, and repair a bathroom, and paid it off in 4 months. Zero interest. So they sent me emails about specials on appliances, so I picked the most expensive fridge I could find and added it to my online cart while I was signed in to my account. Then left it there. After a week they sent me an email about special financing on appliances, and take an additional 10% off. Checked my card and they had bumped it another 2k. They watch your online activity on the stores site.
RosenbeggayoureIN ยท 2 points ยท Posted at 02:58:55 on March 22, 2018 ยท (Permalink)
You should be a little more cautious about that advice... https://thepointsguy.com/2017/04/changes-credit-score-calculations/
Basically bureaus may see all these crazy high limits as a risk to rack up a bunch of debt. I doubt it would affect many people though.
Sk8rToon ยท 1 points ยท Posted at 23:17:55 on March 21, 2018 ยท (Permalink)
That happened with my jcpenny store card when looking to buy furniture for my new apartment. I was going to forgo the store discount to charge it to another card that had a higher limit & instead they raised my limit. Took them 5 years to see I never went back & lowered the limit back to normal.
elyasafmunk ยท 1 points ยท Posted at 03:29:04 on March 22, 2018 ยท (Permalink)
Not always true. If it's chase, it's a hard pull and will not necessarily be worth it
4K77 ยท 2 points ยท Posted at 06:06:01 on March 22, 2018 ยท (Permalink)
Hard pulls only affect you for 2 months though
Annabel398 ยท 2 points ยท Posted at 08:06:47 on March 22, 2018 ยท (Permalink)
Yeah I donโt know why people are so afraid of hard pulls. Itโs a 5-10 point ding usually and it bounces back in a few months. Whereas the benefits of a higher credit line are long-lasting.
4K77 ยท 1 points ยท Posted at 06:10:21 on March 22, 2018 ยท (Permalink)
A good personal finance person would carry zero debt. For example, I use my card every month but pay it in full, since carrying a balance doesn't improve your credit score. So what's the point of raising your limit, or is there no point?
Annabel398 ยท 1 points ยท Posted at 08:22:25 on March 22, 2018 ยท (Permalink)
I challenge your premise. (Do you have a mortgage? I do.)
Taking advantage of 6/12/18 month financing for large purchases at 0% is a good way to do whatโs called โconsumption smoothing.โ
Iโve had to replace a refrigerator and a dishwasher in the past six months. I donโt consider new appliances an โemergency.โ If I can get 18-month financing of a new d/w at 0% (thumbs up for Bosch and Best Buy), why wouldnโt I? Minimizes the effect on my monthly cash flow. And if my CL is high, a big purchase is still a relatively low utilization, so minimal effect to my score. Auto-pay is easy to set up and guarantees that I donโt mess up the terms of the offer.
fiirmoth ยท 11 points ยท Posted at 19:25:35 on March 21, 2018 ยท (Permalink)
Only if they do a hard pull. Some cards will have an amount just kinda sitting there for you they will give up to if you ask. Others do a hard pull no matter what. Ask, but clarify will you be doing a hard credit pull? If yes, then that will affect by ten points or so
๐๏ธ Stone-J ยท 16 points ยท Posted at 19:27:49 on March 21, 2018 ยท (Permalink)
Just to continue this, I can confirm that Discover card does not hard pull on a credit line increase request. And they state if they ever need to, they would let you know first. I've done it a couple times, better luck over the phone.
rachaelfaith ยท 4 points ยท Posted at 22:18:53 on March 21, 2018 ยท (Permalink)
I can piggyback on this and confirm Discover has not done a hard pull for any of my limit increases.
[deleted] ยท 3 points ยท Posted at 02:55:50 on March 22, 2018 ยท (Permalink)
Yep after being reminded to do an increase request because of this thread, I read what to do for Discover. It says if they need to do a hard pull they will specifically ask for consent. I got an increase today with just a soft pull. If you want a bigger increase they will do the hard pull per your request.
little-lion-man7 ยท 3 points ยท Posted at 19:59:04 on March 21, 2018 ยท (Permalink)
As well, any change in your credit line can and most likely will affect your credit score as it raises your total utilization. Usually, this is a positive effect. But yes, the initial hard pull can hurt your credit score around 5-10 points. Usually this is recovered within a few months.
ErroneousFunk ยท 1 points ยท Posted at 22:30:51 on March 21, 2018 ยท (Permalink)
Yeah, you should definitely ask first. BoA did a hard pull for a really stupid reason once. It didn't hurt anything for me in the long run and wasn't a big deal, but I felt silly for not asking beforehand and just assuming it wasn't a hard pull.
I had two credit cards with them and wanted to close one because I wasn't really using it anymore. While I was on the phone with them closing the card, I asked if it would be possible to move the limit from card I was closing and add it to the card I was keeping. "Sure, no problem!"
They did a hard pull. Like, really? You already trusted me with that limit already, we're just moving it from one place to another here. You really have to check again?
Turtlecupcakes ยท 2 points ยท Posted at 21:46:10 on March 21, 2018 ยท (Permalink)
If the bank does do a hard pull, it's only about a 10 point drop that lasts 6 months (the pull stays on your report for 2 years but doesn't affect your score after 6 months and banks don't really look at it beyond that point either).
The other factor is utilization of credit. Even if you pay your bill in full each month and don't pay interest, the total balance on your card is still debt until it's paid and reported.
You want your utilization to be <10% of your available credit on each card, and in total across all cards. So getting your limit up will help your score just because it gets you closer to that 10% mark. Utilization doesn't keep a history though, so even if you have a low limit on your card, if you make a big payment a few days before the statement comes out, the reported balance will be lower and your score will immediately jump up to match (most banks report to the bureaus a few days after the statement closes, so check then).
BroadStreet_Bully5 ยท 1 points ยท Posted at 22:47:27 on March 21, 2018 ยท (Permalink)
10 point drop for a hard pull is bullshit. It doesnโt affect you nearly that much.
varnalama ยท 2 points ยท Posted at 23:57:11 on March 21, 2018 ยท (Permalink)
Only if it is a hard inquiry. You can actually call your credit card provider and ask them if it is a hard or soft pull. If it is a soft inquiry then there is no harm in asking for one.
hermi0ne ยท 13 points ยท Posted at 22:18:00 on March 21, 2018 ยท (Permalink)
This is true. I called Chase about my Chase Sapphire Preferred card, which I wanted to upgrade to the Chase Sapphire Reserve.
They told me that I had to wait 3 months AND I also needed a 10K credit limit (at the time, my credit limit was 8K). I told them not to bother with a credit check and that I'd just call back in a few months.
I logged onto my account a few hours later and they'd automatically upped my credit limit to $10,500. No credit inquiry or anything, and I didn't even ask.
ilikepie71 ยท 1 points ยท Posted at 12:58:57 on March 22, 2018 ยท (Permalink)
Have you had the card for a year already? I thought you were only allowed to product change after having a card for a year? I just got the CSP, but I really wanted the CSR so I'm looking to upgrade as soon as I can.
hermi0ne ยท 1 points ยท Posted at 18:41:49 on March 22, 2018 ยท (Permalink)
Thatโs why I wasnโt able to upgrade, they just upped my credit limit so that then my year anniversary comes I can just upgrade it. I got the card in May 2017, so I have to wait another couple of months.
Glidow ยท 3 points ยท Posted at 02:12:42 on March 22, 2018 ยท (Permalink)
I just logged into my Capital One app and requested an increase and it was granted immediately. I had no idea it was so easy!
CarbineGuy ยท 1 points ยท Posted at 22:18:21 on March 21, 2018 ยท (Permalink)
Amex is the most lenient issuer when it comes to limits typically. Iโd think youโd have to bug them like every three months for them to say no.
maglen69 ยท 1 points ยท Posted at 02:33:49 on March 22, 2018 ยท (Permalink)
Capital One. I have had a card with them forever and they won't give me more than a 2K limit.
Meanwhile, I have an AmEx with a 50K limit on it.
[deleted] ยท 1 points ยท Posted at 11:21:53 on March 22, 2018 ยท (Permalink)
[deleted]
notheretomakefrainds ยท 2 points ยท Posted at 15:53:04 on March 22, 2018 ยท (Permalink)
It can affect it in 2 main ways, 1 good and 1 bad. I've actually never had the 'bad' effect that some others mentioned in the comments here, but will mention it just for full disclosure:
The Good - Increasing your credit limit will decrease your % of credit used calculation, which is a main component of your score. Say you've got $5k debt on a car loan, and total credit available of $20k. If you get one card to increase your limit to 25k, you've gone from 25% credit used to 20%, and this will increase your credit score
The Bad - Apparently some card issuers will do a hard pull on your credit file in order to confirm if it is appropriate for them to increase your CL. Hard pulls do show up on your credit report, and generally have a small negative effect on your score for a few months. This effect will be greater if you have many hard pulls in a short period of time, whereas if you aren't applying for any other credit having just 1-2 pulls over a 6+ month period won't have much effect at all
[deleted] ยท 1 points ยท Posted at 16:01:34 on March 22, 2018 ยท (Permalink)
[deleted]
notheretomakefrainds ยท 1 points ยท Posted at 16:10:27 on March 22, 2018 ยท (Permalink)
I think you definitely should! Depending on who your cards with, it may be as easy as just logging into their online banking portal and making the request (both Amex & USBank let you request online, and AmEx instantly gives you the decision)
bjverzal ยท 73 points ยท Posted at 00:10:16 on March 22, 2018 ยท (Permalink)
I work for Discover. Itโs a great place to work. First year employees get 25 days off (assuming you start in January). Lots of career potential. Every day is jeans day :) I also work from home as much as I want. Check out their jobs if you are interested.
[deleted] ยท 17 points ยท Posted at 04:32:35 on March 22, 2018 ยท (Permalink)
My dad works in HR there... he'll be happy to know that someone out there appreciates his efforts for a positive work environment!
dogbuns69 ยท 16 points ยท Posted at 02:25:27 on March 22, 2018 ยท (Permalink)
25 days off in the first year??? Are you based in the US?
Glad to hear a company that actually wants to treat their employees well.
bjverzal ยท 11 points ยท Posted at 02:31:45 on March 22, 2018 ยท (Permalink)
Headquarters is based in the USA. All of our call centers are also based in the USA.
[deleted] ยท 6 points ยท Posted at 03:10:31 on March 22, 2018 ยท (Permalink)*
[removed]
Rawratchu ยท 14 points ยท Posted at 04:04:13 on March 22, 2018 ยท (Permalink)
Weekends are 20% additional pay :)
bjverzal ยท 4 points ยท Posted at 09:29:10 on March 22, 2018 ยท (Permalink)
So Iโm on the dark side (management) but Iโm a success story as it were. IT technical for decades at multiple companies and about 3 years ago (Iโve been here 10), I was promoted to management. So Iโm tied to a pager 24x7. Now as to actually working weekends - no not really. But on call? Yup .. every day.
theccab234 ยท 2 points ยท Posted at 17:07:00 on March 22, 2018 ยท (Permalink)
You have an actual pager? Lol I thought only doctors had those these days.
bjverzal ยท 3 points ยท Posted at 17:11:26 on March 22, 2018 ยท (Permalink)
Itโs a smartphone app. We just call it pager.
ImRuhn ยท 4 points ยท Posted at 03:59:39 on March 22, 2018 ยท (Permalink)
Yeah most people start working either sat or sun every week. They are super flexible though, if your interested, give it a shot!
aksurvivorfan ยท 2 points ยท Posted at 16:11:06 on March 22, 2018 ยท (Permalink)
What sort of salary, out of curiosity?
bjverzal ยท 2 points ยท Posted at 16:42:32 on March 22, 2018 ยท (Permalink)
It all depends on the job role. I think you get that already .... we are competitive. Iโll say that much. The benefits are great.
aksurvivorfan ยท 1 points ยท Posted at 17:47:11 on March 22, 2018 ยท (Permalink)
Competitive, sure. Can you give a range, though? I don't know what competitive means in the world of banking.
bjverzal ยท 2 points ยท Posted at 17:50:05 on March 22, 2018 ยท (Permalink)
60-80k to start. But thatโs not a promise to anyone else. I will not guarantee that.
aksurvivorfan ยท 2 points ยท Posted at 17:55:36 on March 22, 2018 ยท (Permalink)
Understood that it's variable, of course. That number range is for call-center-rep-type positions? Or more management/corporate?
Cumupin420 ยท 1 points ยท Posted at 17:20:20 on March 22, 2018 ยท (Permalink)
What you start at and did you have previous experience
bjverzal ยท 1 points ยท Posted at 17:47:28 on March 22, 2018 ยท (Permalink)
Iโve been in IT for years to I came in at a senior level. Your mileage may vary.
I_beat_meat ยท 70 points ยท Posted at 18:37:47 on March 21, 2018 ยท (Permalink)
Iโve had this done also. My interest should be kicking back in next month. Wonder if they will do it again for me.
Annabel398 ยท 33 points ยท Posted at 20:17:19 on March 21, 2018 ยท (Permalink)
Magic 8 Ball says: "Outlook good"!
Patcher2 ยท 68 points ยท Posted at 20:33:44 on March 21, 2018 ยท (Permalink)
Thanks guys. I just got my 0% for 12 months via Live Chat. I also asked via chat if this would need a hard credit check and he said no.
69hailsatan ยท 21 points ยท Posted at 21:09:02 on March 21, 2018 ยท (Permalink)
If you donโt mind, how did you ask?
Annabel398 ยท 25 points ยท Posted at 22:35:41 on March 21, 2018 ยท (Permalink)
โI noticed my APR is pretty high, can you lower it?โ Itโs really not rocket science. Be nice, give them compliments. Say thank you.
Patcher2 ยท 1 points ยท Posted at 15:22:17 on March 22, 2018 ยท (Permalink)
Just asked if I'm eligible for any promotional APR offers.
untapped-bEnergy ยท -19 points ยท Posted at 22:20:32 on March 21, 2018 ยท (Permalink)
I'm thinking using words to form sentences to get ideas across
oucoolaidkid ยท 64 points ยท Posted at 23:37:22 on March 21, 2018 ยท (Permalink)
I once called to cancel my discover card. They offered to send me $20 if I didn't. I still have the card.
richardsuckler69 ยท 97 points ยท Posted at 02:37:59 on March 22, 2018 ยท (Permalink)
Thats hilarious
"I want to cancel my card"
"How abt 20 bucks n u dont"
"I do not want to cancel my card"
"Excellent have a great day"
[deleted] ยท 7 points ยท Posted at 02:15:40 on March 22, 2018 ยท (Permalink)
Isn't cancelling your card bad for the credit age and score?
richardsuckler69 ยท 5 points ยท Posted at 02:37:04 on March 22, 2018 ยท (Permalink)
It is
AnUnchartedIsland ยท 1 points ยท Posted at 06:33:47 on March 22, 2018 ยท (Permalink)
Not if it's a low limit card that's relatively young, which is also increasing your number of open cards.
Powerballwinner21mil ยท 42 points ยท Posted at 19:24:48 on March 21, 2018 ยท (Permalink)
Just tried with capital one and no luck.
They do refund my yearly fee every year though.
throaway_date_ideas ยท 36 points ยท Posted at 20:00:52 on March 21, 2018 ยท (Permalink)
I have both a Discover Card and a Capital One card and in my experience, Discover is much more willing to work with me on matters like credit increases, apr rates, etc. I feel like whenever I contact CO with something like that I always get "We're sorry but at this time ___". And I've never missed a payment, carried a balance, nothing. Only thing hurting my credit is (lack of) age.
dgmachine ยท 6 points ยท Posted at 20:11:09 on March 21, 2018 ยท (Permalink)
Same experience here. Discover has been good about giving me credit limit increases (3 or 4 increases since I've had the card), whereas Capital One has been stingy (only 1 increase). As a result, my Discover card has about double the credit limit of my Capital One card.
bucketpl0x ยท 1 points ยท Posted at 03:59:42 on March 22, 2018 ยท (Permalink)
They just automatically give me increases too which I like. My credit limit is up to $9000 now. I'd definitely recommend it to people new to credit cards because it will increase their limit automatically over time which I think would probably help with building their credit score.
summ717 ยท 12 points ยท Posted at 20:02:13 on March 21, 2018 ยท (Permalink)
that has also been my experience. I can never get Capital One to increase my credit limit or basically do anything beneficial. Discover is much easier to work with.
goldminevelvet ยท 1 points ยท Posted at 04:23:19 on March 22, 2018 ยท (Permalink)
That's weird because they gave me one in the November. I didn't ask or even want it. Around that time my other CC's also gave me a credit increase. I figured they wanted to get me to spend more since the holidays were coming up.
Shinion ยท 12 points ยท Posted at 22:59:25 on March 21, 2018 ยท (Permalink)
I work for the Credit Card side of one of the big banks, that's probably because Discover (as well as amex) is a "credit card issuer" and not a "bank" so they follow different regulations than Chase, Capital One, Citi etc.
theshorteststack ยท 7 points ยท Posted at 02:48:11 on March 22, 2018 ยท (Permalink)
Discover offers all types of banking services.
Shinion ยท 1 points ยท Posted at 06:23:05 on March 22, 2018 ยท (Permalink)
I'm not gonna pretend I understand it all since I'm just the frontline customer service person. Maybe its just the bullshit they tell me to spew when they ask why discover and amex can lower APR's but we won't. Maybe it comes down to what others have said with Discover trying to fuck people with deferred interest, when the bank I work for doesn't do deferred interest at all. Idk to be honest, I'm just repeating what I was told to try and be helpful without seeming like a shill, or giving any information that could be used to identify me.
bhelwig ยท 1 points ยท Posted at 00:41:05 on March 22, 2018 ยท (Permalink)
I have a Discover and a Capital One card as well. My Discover limit just randomly increased the other day, so I got on Capital One to request an increase: denied. Worth a shot.
WVAviator ยท 1 points ยท Posted at 03:29:22 on March 22, 2018 ยท (Permalink)
I have a Capital One card that I missed a few payments on back in 2015 so they "restricted" the account. I've called and spoken to fifteen different people and they all have basically said the same thing: the restrictions cannot be lifted, despite the balance now being zero. They still report to the bureaus though so it helps my utilization.
summ717 ยท 2 points ยท Posted at 19:46:00 on March 21, 2018 ยท (Permalink)
how do you get them to do that?
Powerballwinner21mil ยท 6 points ยท Posted at 19:48:27 on March 21, 2018 ยท (Permalink)
Just call and ask.
ptownpadre ยท 4 points ยท Posted at 19:58:49 on March 21, 2018 ยท (Permalink)
Hard to imagine youโd worry about interest rates on a single card after hitting the Poweball tho...
hypnotizedwhirl ยท 1 points ยท Posted at 03:11:06 on March 22, 2018 ยท (Permalink)
I asked them to refund my fee and they flat out told me no. My card is near maxed out and I'm working on paying it off, but fuck that fee.
AmmonM ยท 1 points ยท Posted at 04:14:32 on March 22, 2018 ยท (Permalink)
I just quit working customer service for Capital One. The only APR change they would let us do is lowering the rate by 4% for 7 months. But even that was not available for most customers. The computer decides if the rate can be lowered, and even supervisors canโt override it. If a customer asked to close their account, we actually had to close it rather than having the option to lower it :(
Powerballwinner21mil ยท 1 points ยท Posted at 04:15:24 on March 22, 2018 ยท (Permalink)
Any other insight?!
Maybe an AMA?
Picodick ยท 34 points ยท Posted at 21:48:28 on March 21, 2018 ยท (Permalink)*
I did this recently as well. We had zero balance, I wanted to buy a couple large things and pay over a couple of months but no interest. Called discover they lowered to zero for 12 months. I went and bought my large purchase. It's been three months I owe 200 still but will finish next month. Good deal all around. Edit spelling
Moistmaker1 ยท 92 points ยท Posted at 19:11:28 on March 21, 2018 ยท (Permalink)
I just treat phone calls as a game. Speak confidently and talk the shirt off that nun! 9/10 times I get a good deal.
TheElbow ยท 26 points ยท Posted at 22:40:40 on March 21, 2018 ยท (Permalink)
I've never laughed and be horrified so much from one comment.
chaseoes ยท 1 points ยท Posted at 23:07:53 on March 21, 2018 ยท (Permalink)
This promotion is only being offered via chat.
Moistmaker1 ยท 1 points ยท Posted at 00:15:39 on March 22, 2018 ยท (Permalink)
False.
scottg96 ยท 25 points ยท Posted at 21:48:08 on March 21, 2018 ยท (Permalink)
Well I'll be damned! Just got the 0% promotion applied on my Discover card as well. Thanks for the heads up!
(I'm one of those people who always pays off their statements/balances in full, though. So it probably won't have much of an impact.)
๐๏ธ Stone-J ยท 7 points ยท Posted at 21:52:39 on March 21, 2018 ยท (Permalink)
Glad I could help some people!
DSJ13 ยท 1 points ยท Posted at 03:17:31 on March 22, 2018 ยท (Permalink)
So am I, but itโs opportunity cost. Iโve never paid interest but I usually have a balance at 0% somewhere if theyโre going to give me free money Iโm going to take it.
TargetJams ยท 25 points ยท Posted at 20:49:29 on March 21, 2018 ยท (Permalink)
Went through the online chat and was offered a promotional APR or a permanent reduction by about 2 percentage points.
noobsofalltrades ยท 12 points ยท Posted at 22:01:20 on March 21, 2018 ยท (Permalink)
I was offered a reduction from 24.24% to 19.25% or 0% for 12 months!
fuhhhyouuu ยท 5 points ยท Posted at 05:56:03 on March 22, 2018 ยท (Permalink)
I messaged but didn't have any luck with promo or reduction, however seeing your rate makes me realize I think they really are lower. I'm at 13% right now but still feel that's high.
[deleted] ยท 50 points ยท Posted at 21:19:56 on March 21, 2018 ยท (Permalink)
And if you are military, even if you got your cards later, many credit card issuers will make it retroactive and pay you back the interest you paid sometimes to the tune of thousands of dollars. Google SCRA.
frequent_flaya ยท 24 points ยท Posted at 21:57:28 on March 21, 2018 ยท (Permalink)
This. My military friend recently called them about this and they gave him a special APR in additional to refunding thousands in interest fees.
Savaric ยท 5 points ยท Posted at 23:36:43 on March 21, 2018 ยท (Permalink)
I just used SCRA to knock a student loan down. Cosigned on my ex's last semester (stupid me) and she refuses to let me off of it even though I'm eligible to be released. Figure I can at the very least limit the amount of interest that needs to be paid to the loan. Additionally, they'll go through the life of the loan and modify the rate and adjust the payments to less interest and more towards the principal. If only she was not financially incompetent and paid more than the minimum payment each month...
But yeah, SCRA is worth looking into for all of the benefits.
leggomyeggosocks ยท 5 points ยท Posted at 01:20:13 on March 22, 2018 ยท (Permalink)
Note: You have to be active military for the SCRA to be applicable.
Source: debt collector for 10+ years
varnalama ยท 2 points ยท Posted at 23:58:09 on March 21, 2018 ยท (Permalink)
Actually legally I believe most cards need to accept SCRA if you qualify for it.
jc2345 ยท 20 points ยท Posted at 23:35:19 on March 21, 2018 ยท (Permalink)
I just logged on and was greeted with this messge. "Thank you for using Discover Card. Unfortunately, none of our representatives are available at this time due to high traffic levels." Lmao!
bjverzal ยท -1 points ยท Posted at 00:17:36 on March 22, 2018 ยท (Permalink)
Thanks for the tip. I just called our command center and the issue was resolved a little while ago. Iโm not at liberty to discuss the details however.
shawnxstl ยท 41 points ยท Posted at 23:45:00 on March 21, 2018 ยท (Permalink)
Just called chase and tried to do the same thing and basically got laughed off the phone.
However, Discover did this for me no problem when I called and tried to lower the rate of a balance transfer. Feelsgood.
SmashedACookie ยท 4 points ยท Posted at 00:08:31 on March 22, 2018 ยท (Permalink)
Damn. I was going to try with Chase too
FormerFakeguy ยท 7 points ยท Posted at 00:29:07 on March 22, 2018 ยท (Permalink)
Chase always told me no. So closed my accounts and transferred it to a new card at 0%
shawnxstl ยท 5 points ยท Posted at 00:09:39 on March 22, 2018 ยท (Permalink)
For what itโs worth, they said I could write a letter to their correspondence department and ask if they could lower my apr but the said 0% wasnโt possible.
KevinMcCallister ยท 5 points ยท Posted at 01:06:45 on March 22, 2018 ยท (Permalink)
If you really need a 0% APR for a while and you want to stick with Chase for simplicity you can get their Freedom or Freedom Unlimited which currently (always?) comes with 12 mos. 0% APR.
shawnxstl ยท 4 points ยท Posted at 01:13:15 on March 22, 2018 ยท (Permalink)
I mean I don't need it but it's nice to have. I'm likely just going to do a balance transfer to my Citi card and take advantage of the 3% transfer rate.
I_inform_myself ยท 1 points ยท Posted at 14:17:36 on March 22, 2018 ยท (Permalink)
Chase is a great place to bank with if you are in a good financial situation. Aka, as long as you have 20K in all of your accounts they will like you.
I am a middle class white boy 26, and good decisions have put me in this category. They'll do whatever they can to help keep you.
I told them I didn't feel like paying the interest on my credit card (I could easily afford it) but I thought it was a waste, and the money would be better in my savings account. They dropped my one credit card down to the lowest APR they could offer on it, and added 10 months 0% on my newer one.
Then again you have to have good savings habits and having a decent balance for them to treat you nicely.
giggles92 ยท 1 points ยท Posted at 15:09:01 on March 22, 2018 ยท (Permalink)
I tried with Chase a while ago. They told me they would review it during my 6 month account review... which would occur 7 months from the day I called... I transferred my balance to discover and now basically use it only for places that only take Visa/MC.
CaptainOktoberfest ยท 94 points ยท Posted at 21:07:47 on March 21, 2018 ยท (Permalink)
Gotta say I wholeheartedly recommend Discover. From my own experience they've been legit as a credit card company.
BroadStreet_Bully5 ยท 51 points ยท Posted at 22:53:08 on March 21, 2018 ยท (Permalink)
Iโve used Discover as my every day card for a decade and they are the best. Their customer support is awesome, fraud protection is awesome, cashback program is awesome, and theyโve never turned me down for a limit increase. If they canโt give me a permanent rate decrease, they usually offer one of these kinds of promos. You can call every 6 months for this shit.
Only downside Iโve seen is Discover isnโt taken everywhere like Visa, so your friends break your balls all the time about it, but you just carry a backup Visa and youโre set.
lolcaps ยท 9 points ยท Posted at 01:18:10 on March 22, 2018 ยท (Permalink)
Yep, Discover won me a 3-month long dispute with Progressive and for that I will keep my account with them always. Top notch customer service. My friends definitely give me a hard time when places end up not accepting it... but luckily thatโs been happening less and less over the last year I feel
emorockstar ยท 5 points ยท Posted at 02:08:53 on March 22, 2018 ยท (Permalink)
Same! Itโs now my only CC (but I donโt use CCs at all anymore).
Excellent customer service. My only nitpick is I think there is an extra layer or two in the phone tree before you speak with a live agentโ which I dislike.
annabellynn ยท 5 points ยท Posted at 02:36:48 on March 22, 2018 ยท (Permalink)
I was very surprised to have real people in the US calling me when I signed up for Discover It, and I believe they were available 24 hours.
It was nice, but everything they called about could also be done online by myself.
emorockstar ยท 3 points ยท Posted at 02:38:20 on March 22, 2018 ยท (Permalink)
Yep. 24/7 live on phone or online and in US (seems like always SLC?)
I liked their customer service so much I moved my banking with them. They have a great savings account interest rateโ 1.5%.
miversen33 ยท 2 points ยท Posted at 02:22:57 on March 22, 2018 ยท (Permalink)
My wife experienced someone using her card to purchase something in our town (they ordered something online and was having it delivered to our local Best Buy). She noticed that she was over her limit and was like "thats weird". She keeps up on her cards pretty well (something I might consider learning about XD).
Anyway she calls them, they agree its weird, and after a bit of talking they block her card, send her a new one and refund the entire transaction. No issues at all. I have never trusted a CC company but Discover is amazing :)
Aguerooooooooooooooo ยท 33 points ยท Posted at 00:08:38 on March 22, 2018 ยท (Permalink)*
My first credit card was a student card from Discover. They're great
They gave me a free $20 every semester for good grades, then matched it again at the end of the year. That's like $80 for doing absolutely nothing.
Great for a broke student
scottg96 ยท 3 points ยท Posted at 04:55:51 on March 22, 2018 ยท (Permalink)
Ditto, I've had my student card for a little over a year and they've raised my credit limit twice without even asking, given cashback for good grades, and granted me the 0% APR promo mentioned in this thread. Great service!
SephyKid ยท 6 points ยท Posted at 01:46:16 on March 22, 2018 ยท (Permalink)
Absolutely nothing except getting good grades, which can be difficult under many circumstances.
Aladdin9 ยท 0 points ยท Posted at 02:41:18 on March 22, 2018 ยท (Permalink)
Which is something most people are already expected to do anyway
SephyKid ยท 1 points ยท Posted at 04:02:44 on March 22, 2018 ยท (Permalink)
It doesn't mean it's easy. OP saying they did absolutely nothing implies it's easy, which isn't the case for many students.
Engineer_of_Doom ยท 1 points ยท Posted at 13:50:24 on March 22, 2018 ยท (Permalink)
As someone who did get good grades, I wouldnโt say youโre doing absolutely nothing in getting said grades, but itโs more like theyโre rewarding you for something youโd be doing anyways.
skwerrel ยท 2 points ยท Posted at 07:00:23 on March 22, 2018 ยท (Permalink)
Agreed. Just yesterday they upgraded me to Discover It out of the blue. At first I was pissed (and very skeptical) that they changed something without telling me, but it turns out I get 0% APR for 14 months plus they double my cash back after the first year, without losing or changing anything else about the previous agreement. Hard to complain
TaterSaladFarts ยท 3 points ยท Posted at 01:31:35 on March 22, 2018 ยท (Permalink)
I used to think this. I lost my job suddenly about a year ago. I used my Discover IT card as a daily spend for about 5 years, paying it off every month. I had a balance left I couldnโt pay off immediately due to my unfortunate situation. Discover was the only card that would not work with me. I didnโt exactly expect anything, but my other cards were immediately helpful. Capital One, Synchrony, Barclay, and AMEX, all so helpful.
Then, I finally get back to work and also happen to get a small windfall from an old VA appeal that was approved. I send Discover $4,000 to pay it off and start using it again, and they hit me with a 14 day wait because of โsecurity reasonsโ or some horse shit.
Funny because I paid off a $6,500 Loweโs balance and a $7,000 car loan the same day. I got the title to that car yesterday and Iโm still waiting on Discover to clear that payment.
Iโve called multiple times and get short answers, rude customer service agents in the fraud department and no real answer as to why this happened. They have the money yet havenโt even credited it to my account. Very unhappy with Discover.
gpc0321 ยท 16 points ยท Posted at 20:56:02 on March 21, 2018 ยท (Permalink)
That's cool. I really like Discover. I'm just finishing up my first year with my Discover It this month, and I have 0% APR until June. I couldn't remember if I had 0% APR, and I had a purchase I wanted to make, but wanted to pay it off in increments instead of draining my bank account in one swoop. I knew I didn't want to pay interest, so I messaged them. They told me I had 0% until June and would that be enough time? I said yes (and it is), but it makes me think they may have offered to extend it if I'd asked. Nice folks at Discover.
Matt_Shatt ยท 2 points ยท Posted at 01:55:49 on March 22, 2018 ยท (Permalink)
Ugh I just wish they didn't cancel the warranty and all those other benefits recently.
gEiStToG ยท 16 points ยท Posted at 22:40:44 on March 21, 2018 ยท (Permalink)
Donโt bother asking Bank of America. They wonโt. No matter what.
Tinyrobotzlazerbeamz ยท 5 points ยท Posted at 22:59:57 on March 21, 2018 ยท (Permalink)
Shit. Well Iโll be getting that chase credit card after all. Thereโs an option to get like 150 back after spending 500 or the 0% charge for transferring credit over to that card.
_best_username_ ยท 4 points ยท Posted at 01:26:53 on March 22, 2018 ยท (Permalink)
Which card is that? Iโm shopping around for a credit card to transfer a balance over and 0% APR for balance transfers sounds great.
gEiStToG ยท 5 points ยท Posted at 01:56:18 on March 22, 2018 ยท (Permalink)
Blue Sapphire is what I used. If you get denied on the online website, call to speak to a credit approval reconsideration expert. Explain your plan to pay off the balance transfer and why you deserve the card to be approved. In my experience? Youโll be approved if you legit can support the cards payments at what you tell the rep you can pay each month.
_best_username_ ยท 1 points ยท Posted at 02:29:44 on March 22, 2018 ยท (Permalink)
Thanks!
Tinyrobotzlazerbeamz ยท 3 points ยท Posted at 02:11:11 on March 22, 2018 ยท (Permalink)
Someone else responded also look into the blue sapphire card
_best_username_ ยท 1 points ยท Posted at 02:30:07 on March 22, 2018 ยท (Permalink)
Will do, thanks!
Teslaviolin ยท 1 points ยท Posted at 01:34:36 on March 22, 2018 ยท (Permalink)
Neither will American Express, in my experience.
TheSultan1 ยท 11 points ยท Posted at 23:49:02 on March 21, 2018 ยท (Permalink)
Friend got a Discover card with 23% APR, then asked to have it lowered after a couple years of very low usage. They lowered it to 17.5%... I know it doesn't sound too good, but it's been his lowest-APR card for 2 years now (his credit score is about 670).
The_Knowledgist ยท 11 points ยท Posted at 23:51:50 on March 21, 2018 ยท (Permalink)
As someone who also works in customer service and is also customer of Discover, I gotta say Discover's CS is pretty top notch.
funkyoungking ยท 21 points ยท Posted at 22:39:46 on March 21, 2018 ยท (Permalink)
Former employee at a major credit card company here. Sometimes when you call, you might get a trainee. They wont tell you that, but the thing is and what some people dont know is that people who work at call centers have their phone calls timed. The goal is to take care of the card member as efficiently as possible and in a timely manner, so as to get the next card member on the line. There are some employees who will do almost anything just to get the card member off the phone in order to keep their average call times down, trust me they dont want to keep you on the phone as it is. With that being said, you might actually luck out and come across a new employee or just someone who doesnt give a damn and will give you what you want even if you might not even be qualified for it. Im not sayin i ever did anything like that, oh goodness no. Bottom line, it definitely cant hurt to ask!!
LevitatingTurtles ยท 12 points ยท Posted at 00:43:29 on March 22, 2018 ยท (Permalink)
So... keep them on the phone until they say yes?
Cumupin420 ยท 2 points ยท Posted at 17:25:53 on March 22, 2018 ยท (Permalink)
Yeah get a comment put on your account that you waist reps time, see how that goes. I've worked in many call center and all though they say not to tag difficult customers every place had there own way of not tagging an account. The trick is don't be a dick and they will didn't more time with you, they work on averages so one 30 min call won't hurt them when the rest are 2 min apr promos
tsr6 ยท 2 points ยท Posted at 15:43:39 on March 22, 2018 ยท (Permalink)
Former call center employee, this is true with just about any call center.
Call handle time, revenue per call, calls per hour, ect all factor into the key performance metrics just about anywhere.
Trick is finding the sweet spot between all those metrics.
Jvankeulen ยท 30 points ยท Posted at 21:41:13 on March 21, 2018 ยท (Permalink)
I have no idea why iโm reading these comments, i have no clue what APR is, i donโt have a credit card, but i know for damn sure now iโm gonna save this info somewhere to maybe use it someday
TomHardyAsBronson ยท 10 points ยท Posted at 22:27:27 on March 21, 2018 ยท (Permalink)
How old are you? Even if you don't feel like you need one, it's not a bad idea to open one anyway and, for instance, put one of your recurring payments on it. It will raise your credit without you having to do anything. One reason why this might be a good idea is because credit age is important for credit, so even if you don't use it for anything but your electric bill, having an existing credit when you actually need one will improve your score.
Jvankeulen ยท 8 points ยท Posted at 22:32:29 on March 21, 2018 ยท (Permalink)
Iโll definitely get a credit card as soon as iโm 18, hadnโt heard about credit age though, so thanks, guess thereโs some more stuff i need to look into sonewhere this year
TomHardyAsBronson ยท 6 points ยท Posted at 22:39:54 on March 21, 2018 ยท (Permalink)
It's one of several factors that go into determining credit. But it's super important to remember that you should only open it if you can actually maintain your finances. Credit age only helps so much and doesn't make up for maxed out credit card debt. I opened my first credit card when I was in college and it's still open and the age of it has a significant impact on my credit score because it's like 5 or 6 years older than all my other credit cards. Things like credit inquiries also affect it though, negatively. So just the act of applying for a card can lower your credit (only a bad thing if you apply for several cards and get declined or something). I'm sure there's a thread or something on this sub that would be a better place for information than me.
PerennialPhilosopher ยท 4 points ยท Posted at 23:25:35 on March 21, 2018 ยท (Permalink)
That info is all in the sidebar. I'll edit in a link.
Read everything under credit:
https://www.reddit.com/r/personalfinance/wiki/index#wiki_credit
HugeRichard11 ยท 1 points ยท Posted at 05:43:51 on March 22, 2018 ยท (Permalink)
I recommend going Secured credit card and applying for the Capital One or Discover secured cards where you just deposit $50-$2000 and the amount you deposit is the amount that you can borrow no more unless you deposit more money.
ae232 ยท 5 points ยท Posted at 22:09:52 on March 21, 2018 ยท (Permalink)
Annual Percentage Rate. Itโs the interest on an outstanding credit card balance.
wcgryphon ยท 2 points ยท Posted at 22:56:55 on March 21, 2018 ยท (Permalink)
If you ever do get a credit card, all you have to know is to pay off the entire balance every month. Then you won't ever need know what credit card APR is because it won't matter if it's 0% or 1000%. You won't need to know tricks on how to get it lowered because they aren't charging you money for carrying debt.
classygorilla ยท 1 points ยท Posted at 04:24:37 on March 22, 2018 ยท (Permalink)
Idk man Iโve used the 0% cards for medical debt and projects before and itโs free money. In fact, when my son was born I split my payment (like. 2k) on two cards 0% plus a bonus after spending a certain amount (around $150 after spending $1000). Literally free money.
hugecrybaby ยท 1 points ยท Posted at 00:25:09 on March 22, 2018 ยท (Permalink)
youโll be prepared!
[deleted] ยท 9 points ยท Posted at 20:59:09 on March 21, 2018 ยท (Permalink)
FYI - i got my discover card 8 months ago. So new card holders, this wont work for us lol
Just tried this and this is the repose I received: I certainly understand. Since your account is less than one year we are unable to lower the APR at this time. Please feel free to check back (date)
Annabel398 ยท 5 points ยท Posted at 22:34:15 on March 21, 2018 ยท (Permalink)
Set a reminder in your calendar. No, seriously... do that!
[deleted] ยท 1 points ยท Posted at 14:06:44 on March 22, 2018 ยท (Permalink)
YEP! :D
hoggershog ยท 8 points ยท Posted at 22:43:57 on March 21, 2018 ยท (Permalink)
I always ask for for a better price or freebies, despite the embarrassment my missus feels.
Car insurance renewals are automatically sent out. I always call and ask for a discretionary discount and have always gotten it. Be ready to pay the insurance company on the phone.
If I get a bank fee due to my mistake, I call to ask them to drop it.
When buy a large item, I always ask for a better price and I almost always get a couple of bucks off.
If you don't ask, you will definitely not get anything. Just be friendly and pleasant and don't be upset if you don't get anything.
x_cLOUDDEAD_x ยท 8 points ยท Posted at 02:58:36 on March 22, 2018 ยท (Permalink)
I wonder if Discover Card is wondering why they are getting a big wave of calls about this right now.
I wonder if posts like this turn into actual blips on the radar of big companies...
DCreditCardThrowaway ยท 2 points ยท Posted at 04:59:56 on March 22, 2018 ยท (Permalink)
The age range of people who work in online servicing (chats/messages, emails, web support) is right around 19-25 for the majority. If I'm not chatting with someone, I'm usually browsing reddit on my phone waiting for my customers to respond. :)
serpentmuse ยท 15 points ยท Posted at 00:27:47 on March 22, 2018 ยท (Permalink)
Every year around my birthday, I called up American Express and asked for a lower APR. Not too often to annoy them, always perfectly polite and citing my impeccable payment history.
They denied me every year but always offered a higher credit limit. Dropped the company at my last birthday after 6 years of daily use. Fuck em.
sharkington ยท 1 points ยท Posted at 09:34:58 on March 22, 2018 ยท (Permalink)
A lot of banks/card companies just won't 'negotiate' interest rates on cards because it's not worth the time. Try for an annual fee waiver/refund or bonus points and you might get what you want. When 90% of customers aren't paying interest and the ones that are either don't even notice or are actively trying to get rid of the card, it makes no sense to dedicate training/infrastructure to allowing for lowered interest rates. If you're paying interest on a rewards card just do a balance transfer imo.
serpentmuse ยท 1 points ยท Posted at 11:34:29 on March 22, 2018 ยท (Permalink)
Yea I believed until about 2 years ago that carrying a small balance was better than no balance, so I purposely kept $100-200 from month to month. Not anymore though.
This is good to know. Thanks :)
marktx ยท 166 points ยท Posted at 21:30:57 on March 21, 2018 ยท (Permalink)
Those of us who pay off the closing balance every month are like yawn... I don't even know what my APR is.
thewitchof-el ยท 72 points ยท Posted at 21:38:24 on March 21, 2018 ยท (Permalink)
Nothing wrong with trying to get a lower APR.
SandyDFS ยท 8 points ยท Posted at 02:02:47 on March 22, 2018 ยท (Permalink)
A 0% APR for those of us who pay in full every month is basically a gift of whatever rewards your card offer.
ResponsibleWallaby ยท 2 points ยท Posted at 17:20:40 on March 22, 2018 ยท (Permalink)
How so?
SandyDFS ยท 2 points ยท Posted at 18:53:53 on March 22, 2018 ยท (Permalink)
Say you have a 0% APR card for 12 months with a $5000 limit. This card also gives you 1 air mileage point per dollar spent on the card (for simplicityโs sake). You COULD keep paying for things with your debit card as normal, but youโd be throwing away mileage points. So you can use the card for every purchase you make while continuing to pay it off every month. If you spend $5000 a month on the card, thatโs 5000 points. Do it for 12 months and you have 60,000 points.
You spend the exact same amount of money with no risk of paying interest (until the last statement).
ResponsibleWallaby ยท 2 points ยท Posted at 19:00:19 on March 22, 2018 ยท (Permalink)
You know you don't have to pay interest on credit cards if you pay them in full every month, right?
My current credit card has non-zero APR (I honestly don't know what it is because it doesn't matter), and I get tons of rewards and don't pay anything in interest.
SandyDFS ยท 2 points ยท Posted at 19:12:02 on March 22, 2018 ยท (Permalink)
Right, but a 0% APR card is a "risk-free" option. I guess that's how I should have worded it originally.
ResponsibleWallaby ยท 1 points ยท Posted at 19:19:59 on March 22, 2018 ยท (Permalink)
Fair enough, I guess. I've never considered my monthly credit card payments to be risky enough to worry about.
marktx ยท 29 points ยท Posted at 21:43:09 on March 21, 2018 ยท (Permalink)
I didn't say there was.
ResponsibleWallaby ยท 1 points ยท Posted at 17:25:30 on March 22, 2018 ยท (Permalink)
Of course, it's completely possible to be responsible with it while keeping a few extra bucks in other accounts to get a little more interest, but that's not worth it for me, personally.
lewdite ยท 5 points ยท Posted at 22:49:57 on March 21, 2018 ยท (Permalink)
I thought it was 0% to begin with... but I pay it off every month regardless
Immo406 ยท 23 points ยท Posted at 21:41:53 on March 21, 2018 ยท (Permalink)
Srsly. Only reason I have a CC is to have a credit score and incase my debt card gets declined for some odd reason. I just need to go get the Costco credit card and charge everything to it for the benefits, have the debt for emergencies.
OK-la ยท 29 points ยท Posted at 21:49:34 on March 21, 2018 ยท (Permalink)
Those points tho! I pay everything with my cards and then I pay for Chrismas presents with the rewards.
TheERDoc ยท 36 points ยท Posted at 22:02:07 on March 21, 2018 ยท (Permalink)
Yep. Real reason is points and/or cash back. Essentially free money. This is the reason why debit cards are stupid and why people that use them don't know anything about money.
10tonhammer ยท 34 points ยท Posted at 22:15:25 on March 21, 2018 ยท (Permalink)
A little harsh, but I agree with you. However, some people are just better off without one. Giving up the points, protections against fraud, extended warranties and insurance would be brutal, but if you can't control your debt and spending it's for the best.
classygorilla ยท 1 points ยท Posted at 04:15:12 on March 22, 2018 ยท (Permalink)*
Makes no sense though. Itโs just the reverse management of funds ie opposite way of counting how they do with a debit. Essentially debit is spend down til 0 vs a cc which is spend up til checking account amount (not to exceed). Chargeback and Credit protection have saved me numerous times, and frankly I donโt feel comfortable giving out my debit number because if that money is stolen itโs incredibly difficult to recover and I will be without that money until/if it even happens.
Another point too is if you canโt manage to keep money around, youโre going to get fucked with overdrafts.
hermi0ne ยท 10 points ยท Posted at 22:21:14 on March 21, 2018 ยท (Permalink)
Yeah, I never pay for flights anymore, ever. People ask me how I can afford to travel internationally so much... credit card points!
Immo406 ยท 5 points ยท Posted at 22:37:10 on March 21, 2018 ยท (Permalink)
How much do you spend a year on that card tho?
hermi0ne ยท 12 points ยท Posted at 22:56:18 on March 21, 2018 ยท (Permalink)*
So I have three cards that are all within the Chase Ultimate Rewards ecosystem -- Chase Sapphire Preferred, Chase Freedom, and Chase Freedom Unlimited. I probably spend around $35K between all three every year. All three earn Ultimate Rewards, and the reward points are transferable. I earn points on all three then transfer them all to my Chase Sapphire Preferred for maximum redemption value.
Keep in mind I also refer friends to cards, shop through the chase portal, etc and earn extra points that way. By maximizing everything I've earned 120,000 in points just this past year alone (NOT including the 50K sign up bonus), which comes out to about $1200 in raw cash or $1500 in plane tickets when booked through Chase since they add an additional 25% as a benefit of the Sapphire card.
With tickets to Europe, Asia, etc often being $500 roundtrip, that's 3 roundtrip international tickets right there.
I also have an Amazon card which I use for Amazon only (and I guess now whole foods).
Immo406 ยท 3 points ยท Posted at 23:27:47 on March 21, 2018 ยท (Permalink)
Damn.
Cumupin420 ยท 1 points ยท Posted at 17:34:09 on March 22, 2018 ยท (Permalink)
50k points is worth 500 cash and I think 750 travel booked through them. I have the same card. Me thinks he's embellishing allot, he also left out that his card cost money to have
baumbach19 ยท -7 points ยท Posted at 02:18:02 on March 22, 2018 ยท (Permalink)
Lol, yes..the people that donโt use credits cards know nothing about money.
Keep telling yourself that, youโre such a genius!
TheERDoc ยท 3 points ยท Posted at 03:20:39 on March 22, 2018 ยท (Permalink)
I will. Thanks. If you're using a debit card to avoid being late on bills then my point stands and you suck with money, but at least you're doing yourself a favor. If you're in a higher earning group that doesn't need "free points" or whatever then sure. I guess you're not missing much.
baumbach19 ยท -1 points ยท Posted at 05:42:27 on March 22, 2018 ยท (Permalink)
Chasing some free โpointsโ is silly. People should focus on their spending habits, what they buy, investments....not worrying about getting something free from using a credit card.
Just my observation on how many people behave with money. Iโm sure many are just fine, but a lot of people out there just terrible with money thinking they are getting ahead doing that stuff
TheERDoc ยท 3 points ยท Posted at 13:10:14 on March 22, 2018 ยท (Permalink)
And those are people that are terrible with money. If you have credit card debt and don't pay off your balance then sure, keep a debit card which further reinforces my first point.
The idea is that if you're a responsible spender and are going to spend money on groceries, food, hobbies, etc (stuff you'd be spending it on anyway) then there's no downside to having a credit card that gives you benefits (points, cashback, miles) for using money that you'd already be spending. I don't think anyone is or should be advocating blowing money on random stuff just to obtain more points.
TomHardyAsBronson ยท 6 points ยท Posted at 22:28:54 on March 21, 2018 ยท (Permalink)
And that sweet sweet cash back. I get like $75-$150 cash back a year on one of my cards.
classygorilla ยท 3 points ยท Posted at 04:11:55 on March 22, 2018 ยท (Permalink)
Rookie move. I literally only use my cc every month. Saved me numerous times with charge backs and the extra level of theft protection. Literally just today closed a chargeback worth $350 - cc company did all the work. Never use your debit bro, if that money gets stolen youโre fucked until/if the bank can recover it.
n8cnny ยท 5 points ยท Posted at 21:58:30 on March 21, 2018 ยท (Permalink)
Costco rewards are CRAZY good
IHateHangovers ยท 1 points ยท Posted at 06:05:27 on March 22, 2018 ยท (Permalink)
The problem with the Costco card is you still need to pay for a Costco membership. You may be better off getting a rewards card and paying an annual fee.
Immo406 ยท 1 points ยท Posted at 08:57:28 on March 22, 2018 ยท (Permalink)
Ya thatโs a good point
Letscurlbrah ยท 4 points ยท Posted at 23:52:17 on March 21, 2018 ยท (Permalink)
I actually have no clue what my APR is, never have.
Cainga ยท 2 points ยท Posted at 21:33:08 on March 22, 2018 ยท (Permalink)
You can use 0% apr as a free Loan during that period. If you have another loan you can effectively put everything on the card and use all your funds to knock off the higher interest loan. You would need to come up with the money to pay off the card before the 0% expires.
Frostfright ยท 1 points ยท Posted at 17:00:14 on March 22, 2018 ยท (Permalink)
Yeah, I literally don't even look at the APR when applying for a card. It's just not relevant info when you pay it off in full every month.
Cumupin420 ยท 1 points ยท Posted at 17:29:54 on March 22, 2018 ยท (Permalink)
Seriously, I have a great card and the apr is high but I've never paid it and never will. Credit cards are meant to be paid off each month not to extend credit for a loan
Laphroaig18Lover ยท -3 points ยท Posted at 21:46:31 on March 21, 2018 ยท (Permalink)
True story
Laphroaig18Lover ยท -1 points ยท Posted at 21:46:39 on March 21, 2018 ยท (Permalink)
True story
Pporkbutt ยท 12 points ยท Posted at 21:33:13 on March 21, 2018 ยท (Permalink)
Discover card is awesome, I've always had a good experience with them.
acedelaf ยท 4 points ยท Posted at 23:32:42 on March 21, 2018 ยท (Permalink)
I love their 5% categories.
u-n-i-t-y ยท 1 points ยท Posted at 17:31:27 on March 22, 2018 ยท (Permalink)
I kinda regret not getting the card that has that 5% rotation. I have the student one with 2% restaurants and gas and 1% on everything
bjverzal ยท 4 points ยท Posted at 00:18:28 on March 22, 2018 ยท (Permalink)
Thatโs why I work there :). Love them. Really know how to care for their employees.
Pporkbutt ยท 3 points ยท Posted at 00:41:57 on March 22, 2018 ยท (Permalink)
One time they sent me a $5 Starbucks card for no particular reason, that was awesome.
bjverzal ยท 5 points ยท Posted at 01:44:47 on March 22, 2018 ยท (Permalink)
We won an award 2 years ago and every employee got a bonus day off.
pwnmeplz101 ยท 1 points ยท Posted at 07:01:56 on March 22, 2018 ยท (Permalink)
Dang. I kind of want to work there now. What are the requirements?
bjverzal ยท 2 points ยท Posted at 09:35:42 on March 22, 2018 ยท (Permalink)
Depends on your background. We have a rapidly growing cyber security organization. We have a great college intern program. Locations in Illinois, Texas, Arizona, Ohio, Delaware, Utah, UK, China... but again, we very strongly embrace work from home. My team maybe comes in all together once per week. Other than that, they are snug as a bug in a run, in their homes. Or at a Starbucks. Or a McDonalds. It makes no difference to me where they are.
noobsofalltrades ยท 6 points ยท Posted at 21:59:34 on March 21, 2018 ยท (Permalink)
Hey I saw your post and chat with Discover right away and got the offer!
kthxtyler ยท 24 points ยท Posted at 21:54:36 on March 21, 2018 ยท (Permalink)
APR only applies when you don't make full payments right? I have never had any APR on my Discover card, ever (10 years)
Julia_Kat ยท 23 points ยท Posted at 22:46:37 on March 21, 2018 ยท (Permalink)
You have an APR, but interest doesn't accrue if you pay it off by the due date on your statement. So yeah, I don't know or care about my APRs since I pay my cards off each month.
zixr ยท 3 points ยท Posted at 23:40:12 on March 21, 2018 ยท (Permalink)
Same here. I could have 100% APR on any of my cards and I would never know it because I only spend what I have in my bank. This is how I keep my credit scores active and my credit in check. It's also how I went from 520 to 800 average credit score in a couple of years.
caboosetp ยท 3 points ยท Posted at 00:40:18 on March 22, 2018 ยท (Permalink)
I misread that at first. Was like, "800 is not average"
kthxtyler ยท 9 points ยท Posted at 22:48:58 on March 21, 2018 ยท (Permalink)
It amazes me to think people put a bunch of money on credit cards knowing they can't pay it off. Better yet, knowing there will be a gang of interest because of it. Happy cake day btw
TwistedRonin ยท 9 points ยท Posted at 23:31:54 on March 21, 2018 ยท (Permalink)
I mean, I have a balance on one of my cards because I get 0% for the first year. Needed to buy another phone before the payment plan was done on my current one, so I put the remaining balance on the card. I got my phone and still keep my money.
Why shouldn't I use a free loan to stretch out payments if I can?
NeverBeenStung ยท 4 points ยท Posted at 02:22:30 on March 22, 2018 ยท (Permalink)
This is the key part of his comment. The second you pay a penny of interest you are losing. If you have 0% then by all means, just don't be late on payments and have your credit score suffer.
Julia_Kat ยท 0 points ยท Posted at 22:54:55 on March 21, 2018 ยท (Permalink)
I've had people ask me some interesting questions. "If I pay more than the minimum on my credit card, will my credit score go up?" I cringed so hard. Yes, if they stopped putting more on the card than they're paying off. Not to mention how much they're gaining in interest. A lot of my previous coworkers lived well beyond their means and had that attitude with credit cards.
And thanks! Didn't even realize.
kthxtyler ยท 3 points ยท Posted at 22:57:37 on March 21, 2018 ยท (Permalink)
Sometimes you just have to have those $600 Margaritaville machines with the salsa dispenser - frivolous spending ahoy!
kittenkicker29 ยท 2 points ยท Posted at 01:16:28 on March 22, 2018 ยท (Permalink)
I find it concerning that comments like these in this thread are so hard to find in a thread on the personal finance subreddit
Butthole_Surfer_ ยท 4 points ยท Posted at 00:54:55 on March 22, 2018 ยท (Permalink)
Stupid question, but this means you can just pay the minimum balance for 12 months with no problems right?
parisborabora ยท 3 points ยท Posted at 01:12:04 on March 22, 2018 ยท (Permalink)*
Yes. Also, just to be safe and make it less complicated pay any prior purchases you had in that card before taking advantage of the zero percent over twelve months.
_RightMeow ยท 5 points ยท Posted at 06:20:30 on March 22, 2018 ยท (Permalink)
Can I ask them to forgive my student loans
ResponsibleWallaby ยท 1 points ยท Posted at 17:32:03 on March 22, 2018 ยท (Permalink)
I mean, you can ask.
[deleted] ยท 4 points ยท Posted at 21:04:35 on March 21, 2018 ยท (Permalink)*
[deleted]
plzdontrefresh ยท 3 points ยท Posted at 21:27:33 on March 21, 2018 ยท (Permalink)
What card did you have with citi?
thewitchof-el ยท 1 points ยท Posted at 21:39:09 on March 21, 2018 ยท (Permalink)
What card do you have?
borgchupacabras ยท 1 points ยท Posted at 21:55:21 on March 21, 2018 ยท (Permalink)
I contacted Citi and they said they will review my account to see if it can be lowered.
[deleted] ยท 3 points ยท Posted at 21:39:24 on March 21, 2018 ยท (Permalink)*
Is the Discover app not working for anyone else? I can open it up but I canโt connect to live chat or send an Inquiry.
Edit: was able to get connected and got the 0% for 12 months :)
YouDontSurfFU ยท 2 points ยท Posted at 23:08:52 on March 21, 2018 ยท (Permalink)
live chat is down cause we're flooding the lines. They're getting a high volume of calls to the past 4 hours thanks to this post.
TomHardyAsBronson ยท 3 points ยท Posted at 22:07:04 on March 21, 2018 ยท (Permalink)*
Yes this is a good idea to do regularly, on every card. They will often offer you a temporary deal like they gave you, or if you say you're not interested, they may offer a permanent decrease. I went from 19% to 15% last time I asked. Also if you find yourself needing some quick cash, if you have a card with no debt, ask if they have any deals if you transfer your debt over. I have a discover card that I keep open specifically for this reason. I never charge anything to it, and occaisionally I will ask if they will offer me a deal to transfer my debt. I've gotten a deal of 0% APR for 12 or 18 months on more than one occaision, with a one time fee of 3% of the total transfer, and then I will set up automatic payments to pay enough so that it pays off by the last month of my deal. It amounts to a several thousand dollar loan for a low one time payment.
You can also do something like this before making a big purchase. For instance, I bought my dishwasher on that same card for 0% APR for 12 months.
Hoki-Poki ยท 4 points ยท Posted at 22:59:30 on March 21, 2018 ยท (Permalink)
Nice! I just called capital one and they said they lowered it by 20 variables. I don't know what that means?
molasses_park ยท 4 points ยท Posted at 23:16:15 on March 21, 2018 ยท (Permalink)
i have a Navy Federal Credit Union credit card at 18%. i asked them to lower my APR and now itโs at 17%!
oldmanwilson ยท 5 points ยท Posted at 23:27:16 on March 21, 2018 ยท (Permalink)
Just got my APR cut in half for a month. Not as cool as you but this actually is going to help a ton as im only a few dollars from getting rid of my carryover.
Estrada620 ยท 5 points ยท Posted at 23:34:11 on March 21, 2018 ยท (Permalink)
I tried this about a year ago and got turned down. Tried again a few months ago and it worked. Both times via chat. I have Chase and Discover credit cards. I like Discover because they work with you more and seems easier to talk/chat if you have a problem. Chase seems more strict when it comes to increases and APR rates, but they have good service as well as giving automatic increases if you have good history with them.
[deleted] ยท 4 points ยท Posted at 00:01:53 on March 22, 2018 ยท (Permalink)
Shit, I called mine after years and they raised my limit by $6K and gave me 0% for 6 months.
I was having some issues recently and called them and they gave me 0% again for another 6 months so I bought a bunch of shit for my car. Lol
WonderLust88 ยท 4 points ยท Posted at 02:46:53 on March 22, 2018 ยท (Permalink)
I have been asking my credit union for years to lower it and get nothing. I feel like I am drowning, I have like 24k in credit card debt and no idea how the hell to get out. With child support tact on top of it all I can't get anywhere. I can't afford to visit my son and can't even make any progress on my debt. its so fucking depressing
flawedfloydfan ยท 4 points ยท Posted at 02:52:49 on March 22, 2018 ยท (Permalink)
I work customer service. If there is no option respect that & move on. Don't be a sour puss.
Ihazcandy4you ยท 4 points ยท Posted at 03:31:27 on March 22, 2018 ยท (Permalink)
To add to this, those of us who carry a balance but are trying to get rid of that balance, discover also has a program that they will match 5% of your payment if you pay more than your minimum payment. Can't recall what it's called but when I called about the apr, the guy I was talking to suggested that.
SmarmyYardarm ยท 5 points ยท Posted at 14:51:22 on March 22, 2018 ยท (Permalink)
Wow. I just got off the phone with Citi. They wouldn't budge. Citi Costco card for as long as they took over when Costco switched from Amex and Citi would not budge. I have just under 10K on my balance, Never missed a single payment.
Meanwhile I called Barclay two weeks ago for my JetBlue card the month my 0% expired and right away they dropped the standard 16.5% to 12.5%.
Now I feel like opening a new account somewhere and revenge-transferring the hell away from Citi.
rodgie05 ยท 9 points ยท Posted at 23:04:09 on March 21, 2018 ยท (Permalink)
I called my insurance to see what they could do for me after never having an accident or tickets since I started driving. I'm 28 now, they updated my address and because I moved two blocks closer to the city my 6m plan went up $200. Not all calls don't hurt.
ResponsibleWallaby ยท 1 points ยท Posted at 17:30:28 on March 22, 2018 ยท (Permalink)
It's possible that your insurance could reduce or deny a claim (particularly for something that occurs at home, such as theft) if they don't have your correct address.
mziolkowski ยท 6 points ยท Posted at 21:26:27 on March 21, 2018 ยท (Permalink)
I have a Discover It with a fairly high balance at the moment, and I'm approaching the end of my 0% APR period. If I ask for an extension and threaten to do a balance transfer, are they likely to do it? I've never missed a payment and my payments are always well over the minimum.
Annabel398 ยท 19 points ยท Posted at 22:32:48 on March 21, 2018 ยท (Permalink)
Donโt threaten. Ask nicely. If they say no, HUCA ( hang up, call again).
just_tryin_2_make_it ยท 1 points ยท Posted at 04:42:18 on March 22, 2018 ยท (Permalink)
Hyruca
Julia_Kat ยท 3 points ยท Posted at 22:48:34 on March 21, 2018 ยท (Permalink)
It might work since you already have 0% but if you didn't, the new APR of 0% would only apply to new purchases.
MarsVulcan ยท 3 points ยท Posted at 22:26:02 on March 21, 2018 ยท (Permalink)
And my American Express just sent me a letter in the mail saying my rates have gone from 11.99% to 16.99% even though Iโve paid every bill on time for over two years... Apparently the Prime rate has gone up. :/
muffin6591 ยท 2 points ยท Posted at 08:47:55 on March 22, 2018 ยท (Permalink)
the prime rate went up by .25% at the turn of the year. 5% without triggering a rate increase is kind of silly.
AlphaOmega926 ยท 1 points ยท Posted at 02:35:31 on March 22, 2018 ยท (Permalink)
If I read it correctly, the Federal Reserve raised interest rates today, guess they feel the economy is doing better. They may decide to raise it again in a few months.
riskyfartss ยท 3 points ยท Posted at 23:32:16 on March 21, 2018 ยท (Permalink)
Discover has great customer service and UI with their products. They run great deals for students looking for their first credit card too.
Eazy_DuzIt ยท 3 points ยท Posted at 23:55:14 on March 21, 2018 ยท (Permalink)
I did this with Capital One and they said the best they could do was reduce it from 24% to 18% for 3 months, then it would revert back to normal. I even politely threatened to close my account. Never missed a payment or carried a balance.
starverer ยท 3 points ยท Posted at 08:54:14 on March 22, 2018 ยท (Permalink)
I asked my credit card company to lower my APR, expecting them to, since I was going to carry a bit more of a balance for 2 or three months due to cash flow concerns and had never missed a payment. They said they couldn't.
Then, after uselessly asking to speak to a manager, I told the person on the phone what I was planning to do, and they didn't seem to care, and so I did it:
In a week or so, I got a new credit card with a much lower APR and zero percent on balances transferred, and transferred the (temporary) balance from them to the new card.
I may or may not cancel (it's not a fee charging card), I may just let them continue to spend money sending me junk, and never use it again except in an emergency.
I don't know who runs a business this way.
hamiltd3 ยท 1 points ยท Posted at 19:36:15 on March 22, 2018 ยท (Permalink)
This is what I just had to do because amex wouldn't drop my apr by more than 0.5% which is sad considering I've been with them for 10 years.
Infield_Fly ยท 2 points ยท Posted at 20:13:18 on March 21, 2018 ยท (Permalink)
I used to do this every 6 months and set calendar reminders. Kept doing it until I got to the point where they said it was the lowest they could go, and I couldn't find any other cards with a better rate to threaten to go to. That was a few years ago, might have to get back to it.
DSJ13 ยท 2 points ยท Posted at 21:07:01 on March 21, 2018 ยท (Permalink)
I did that with discover last year. I carried a 10k balance for the year and paid it off at the end. Free money.
[deleted] ยท 2 points ยท Posted at 21:31:51 on March 21, 2018 ยท (Permalink)
That's awesome news! This is my 6th month w/ the Discover Cash Back Card (Secured). After i get my monthly statement I'll be calling and seeing if they can add my deposit to my credit ammount. I think I'll be staying w/ the secured card because it raises my credit the same ammount as a unsecured credit card and i already have all the perks of the card.
[deleted] ยท 2 points ยท Posted at 21:32:06 on March 21, 2018 ยท (Permalink)
I tried it and Citibank didn't even budge but said I could check back periodically to try and get an offer. I just opened a Chase card to transfer the balance so this won't even be an issue soon. Good to know though.
Eudemon369 ยท 2 points ยท Posted at 21:57:29 on March 21, 2018 ยท (Permalink)
what happen if you ask that when carrying debt
alexmojo2 ยท 3 points ยท Posted at 23:32:27 on March 21, 2018 ยท (Permalink)
My guess is that it would only apply to new purchases, not any outstanding balance.
[deleted] ยท 1 points ยท Posted at 01:14:28 on March 22, 2018 ยท (Permalink)
Thatโs exactly what they said when I asked.
Tinyrobotzlazerbeamz ยท 2 points ยท Posted at 22:51:39 on March 21, 2018 ยท (Permalink)
This. Iโm gonna try when I get off work. Planning on making a big purchase soon so if I can get them to reduce it or cut it all out Iโd be stoked! If not Iโll just buy it and transfer to a chase credit card that has 0% charge for transferring over
varnalama ยท 1 points ยท Posted at 00:00:37 on March 22, 2018 ยท (Permalink)
Really it depends. There are a few factors that they look into when lowering the APR.
notathr0waway1 ยท 2 points ยท Posted at 22:07:30 on March 21, 2018 ยท (Permalink)
To be clear, you still pay off the balance every month so it's not like you're arbitraging with some kind of high interest account, right?
๐๏ธ Stone-J ยท 2 points ยท Posted at 22:10:33 on March 21, 2018 ยท (Permalink)
Correct.
almost_the_king ยท 2 points ยท Posted at 22:42:20 on March 21, 2018 ยท (Permalink)
Did they pull your credit
YouDontSurfFU ยท 2 points ยท Posted at 23:02:40 on March 21, 2018 ยท (Permalink)
No they didn't. I got 0% for 12 months on new purchases
Denny1424 ยท 1 points ยท Posted at 02:49:39 on March 25, 2018 ยท (Permalink)
Sick breath
nomorelittlegirl ยท 2 points ยท Posted at 22:52:52 on March 21, 2018 ยท (Permalink)
Tried this with capital one and they dropped it from prime+14% to prime +11% for 7 months.. definitely not 0% but Iโve never carried a balance so I guess I canโt complain ยฏ_(ใ)_/ยฏ
SomeLoser23 ยท 1 points ยท Posted at 23:08:14 on March 21, 2018 ยท (Permalink)
If you don't carry a balance ask them about their 0% offer. They told me i have to pay down my balance first.
Rummy9 ยท 1 points ยท Posted at 02:45:09 on March 22, 2018 ยท (Permalink)
So what's the point? Prime+11% of 0 is still 0.
TwentyPercentPlease ยท 2 points ยท Posted at 23:01:46 on March 21, 2018 ยท (Permalink)
Just so everyone is clear, the 0% APR is for all purchases going forward. If you have a balance on your card, you are paying an APR on that until that balance is paid off. I was offered either 17.99 or 18.99 on my previous purchases but 0% going forward. Itโs still a good deal, but just make sure you pay off that previous balance.
michi098 ยท 2 points ยท Posted at 23:19:18 on March 21, 2018 ยท (Permalink)
I have been with Bank One/Chase for nearly 30 years. A few weeks ago I tried the same, they said they don't do that anymore. Sigh.
purplegiraffee ยท 2 points ยท Posted at 23:22:36 on March 21, 2018 ยท (Permalink)
I asked the other day if they'd waive a late fee because I spaced and didn't realize I hadnt paid my bill. Saved $27 for paying that day.
El_gato_picante ยท 2 points ยท Posted at 23:23:56 on March 21, 2018 ยท (Permalink)
I did this for all my CC during for the holiday season. Discover was the only one who gave me 0%.
ShiftyBizniss ยท 2 points ยท Posted at 23:44:35 on March 21, 2018 ยท (Permalink)
That's probably why. They don't make much money off you anyway, so they figure a little good will is worth it.
Wakenbake585 ยท 2 points ยท Posted at 00:43:46 on March 22, 2018 ยท (Permalink)
If anyone has Sirius XM, cancel it and you will start getting discounts in the mail from them.
ImNotSureWhere__Is ยท 2 points ยท Posted at 01:02:12 on March 22, 2018 ยท (Permalink)
Question for those with more experience here: is a larger credit line better or lower APR? I always pay in full before the due date as to not collect interest, and typically never use my Discover outside of gas or groceries unless I explicitly have money to โspendโ. My only thought on a higher line of credit is a lower usage on my credit report, but I can just pay more attention and pay as I go. But lower APR, gives me a little more of a cushion in an very worst case.
RustyGonzo ยท 2 points ยท Posted at 01:17:25 on March 22, 2018 ยท (Permalink)
I called American Express and asked to lower my APR. They just laughed and hung up.
topher987654321 ยท 2 points ยท Posted at 01:17:39 on March 22, 2018 ยท (Permalink)
i did this a few months ago, guess i should have shared with ya'll ha
ClarkDungaree ยท 2 points ยท Posted at 01:29:01 on March 22, 2018 ยท (Permalink)
Will this work on my student loans?
OntarioHookah ยท 2 points ยท Posted at 01:33:19 on March 22, 2018 ยท (Permalink)
/u/stone-J this is awesome, I currently carry a balance & still got the offer!! Thank you!
nukeyocouch ยท 2 points ยท Posted at 01:55:17 on March 22, 2018 ยท (Permalink)
There is no point to this if I never carry a balance right?
Schererpower ยท 2 points ยท Posted at 02:06:08 on March 22, 2018 ยท (Permalink)
"never", but there would be no point, correct.
I lost a job and maxed a card pretty quickly doing damage control. Being in a 0% promotion because I was bored one day would have saved me a lot digging back out. I'm fine now and don't generally carry a balance either, but I'm going to call my carrier tomorrow and inquire.
maiapupper ยท 2 points ยท Posted at 02:50:26 on March 22, 2018 ยท (Permalink)
I actually did this back in November last year. I just called and told them that I was considering closing my account and transferring my balance for a lower APR on a different card. They offered to lower it to 18% or 0% for the next 12 months. I was planning an expensive trip for January so I took the 0%.
It should be noted that this is just on FUTURE purchases (at least it was for me). If you have a balance on the card already it wonโt affect the interest rate on your current balance - that will stay the same.
primearch ยท 2 points ยท Posted at 03:19:55 on March 22, 2018 ยท (Permalink)
I was planning a vacation / engagement so I was going to carry a balance for a few months, so I called chase and asked if I could get my 14% APR lowered.. I've never carried a balance and my credit score is over 800. They said lol that's as low as it goes.
I moved everything to a credit union the next week.
najvonne ยท 2 points ยท Posted at 03:32:15 on March 22, 2018 ยท (Permalink)
I asked them when I was going on maturity leave of they did a deferment They gave me three months no payment and a few weeks later they sent me a check In the mail for $150 for just because!
Amazing customer service right there
throatchakra ยท 2 points ยท Posted at 04:01:15 on March 22, 2018 ยท (Permalink)
Iโve tried asking Cap One this 5 times now - been with them for 8+ years. 0 balance - high interest rate. Not willing to budge at all... They tell me to close the acct and open a new one to get a better rate... uh no thanks.
madguins ยท 2 points ยท Posted at 04:46:12 on March 22, 2018 ยท (Permalink)
Speaking of Discover, I was about to travel and the online systems wouldn't let me put a travel notification on my cards so I had to call. Was on the phone with Visa for 48 minutes, Discover for 2.5.
PoorEdgarDerby ยท 2 points ยท Posted at 05:13:18 on March 22, 2018 ยท (Permalink)
This was one of my first pieces of advice when coming to this sub. I had three lines. One lowered a few points, the others didn't.
More advice used to tackle the others but asking (especially if you pay on time and over minimum) can pay off.
trikats ยท 2 points ยท Posted at 05:19:21 on March 22, 2018 ยท (Permalink)
Last month Discovered refunded the CC late payment fee and interest when my bank screwed up my checking account funding.
btcftw1 ยท 2 points ยท Posted at 06:14:04 on March 22, 2018 ยท (Permalink)
I just logged on and was greeted with this messge. "Thank you for using Discover Card. Unfortunately, none of our representatives are available at this time due to high traffic levels." Lmao!
Put_It_All_On_Blck ยท 2 points ยท Posted at 06:26:31 on March 22, 2018 ยท (Permalink)
Unfortunately discover recently dropped the majority of their card benefits, so to me my discover card is next to worthless now
BiggusDickus9284 ยท 2 points ยท Posted at 10:42:33 on March 22, 2018 ยท (Permalink)
I got 18 months interest free.
It's great if you know you can pay it off -- And I can.
STylerMLmusic ยท 2 points ยท Posted at 11:48:17 on March 22, 2018 ยท (Permalink)
What's it going to be after the twelve months? Probably higher than originally.
chuckie512 ยท 2 points ยท Posted at 13:19:06 on March 22, 2018 ยท (Permalink)*
I've got discover to sign me up for that new member cash back bonus, when I wasn't a new member
[deleted] ยท 2 points ยท Posted at 14:12:46 on March 22, 2018 ยท (Permalink)
This will get buried but Discover will do this every time you call to ask about this. The thing you are losing is your APR will never slowly work its way down. For me, I don't really mind because I pay the bill off every month and having the safety net of 0% interest in case of a huge emergency (think medical that clears out your liquid savings), I have something to get by on without being scared of interest destroying me.
jldude84 ยท 2 points ยท Posted at 16:07:01 on March 22, 2018 ยท (Permalink)
Now that I think about it, I can't remember the last time I paid CC interest lol
nwrcj90 ยท 2 points ยท Posted at 16:35:58 on March 22, 2018 ยท (Permalink)
Just called capital one. Although they didn't give me 0% apr, they lowered my apr 5% for 7 months. Better than nothing.
benbernards ยท 2 points ยท Posted at 17:22:02 on March 22, 2018 ยท (Permalink)
I asked CapOne...the best they could give me was 11% for 7 months.
YMMV.
sacredmeow ยท 1 points ยท Posted at 17:29:45 on March 22, 2018 ยท (Permalink)
This is the one I need to lower my % on... at least it sounds like they will budget a little.
bjverzal ยท 2 points ยท Posted at 18:18:04 on March 22, 2018 ยท (Permalink)
Definitely not call center staff.
hamiltd3 ยท 2 points ยท Posted at 19:27:43 on March 22, 2018 ยท (Permalink)
So I used online chat with amex to see if they'd do something similar, I've been with them for around ten years and used to have a 9.99% interest rate but they've crept it up to around 15%. They offered to lower it 0.5% to 14.5% basically.
So instead I asked do they have a card I could do a 0% balance transfer to and get 0% for x amount of months, and they have one I could get 15 months at 0% interest, which I'm hoping is enough time for me to pay the credit card down finally. I've always had a decent sized balance on it and have trouble paying it down. What do you guys think about balance transfers?
PaulR504 ยท 7 points ยท Posted at 20:54:33 on March 21, 2018 ยท (Permalink)
This is a trap people realize that right? If you plan on paying down the card then this is a GREAT IDEA. If you plan on adding more debt this is absolutely horrible idea.
pez78guy ยท 10 points ยท Posted at 21:48:35 on March 21, 2018 ยท (Permalink)
Absolutely. These promotional rates can be very nefarious.
Deferred interest financing plans are often promoted similarly to 0% introductory offers. The same "No interest" and "0%" phrasing often accompanies these offers, however, deferred interest is very different and not in a good way. With deferred interest financing, you must pay the full balance to avoid paying interest. If you have any balance left over after the promotional period ends, the full interest backdated to the first day of your balance is added to your account.
Glowwerms ยท 2 points ยท Posted at 00:13:53 on March 22, 2018 ยท (Permalink)
Discover doesnโt have deferred interest just an fyi
[deleted] ยท 7 points ยท Posted at 21:34:17 on March 21, 2018 ยท (Permalink)
[deleted]
Immo406 ยท 1 points ยท Posted at 21:45:54 on March 21, 2018 ยท (Permalink)
Which card do you carry? Isnโt there a few cards with better benefits now?
fvtown714x ยท 2 points ยท Posted at 22:14:11 on March 21, 2018 ยท (Permalink)
Agreed. I mean, I assume most people subbing here already know, but only borrow what you can afford to pay back.
the_dharmainitiative ยท 2 points ยท Posted at 22:16:24 on March 21, 2018 ยท (Permalink)
They even lure people in with 18 month 0% apr for balance transfers. To make the pot sweeter, they offer a 5% cash back with a cash back match. This encourages you to swipe the card even though you intended to use it for the balance transfer only.
I transferred my balance, paid it off well in time and even managed to get my balance transfer fee back in the form of cash back. Now, I pay off my balance in full every month.
dequeued ยท 4 points ยท Posted at 21:15:27 on March 21, 2018 ยท (Permalink)
Great advice! We actually just had a 30-day challenge on this (and other percentages of note) if anyone is interested in reading more:
30-Day Challenge #2: Check your percentages!
DSouza31 ยท 3 points ยท Posted at 00:23:39 on March 22, 2018 ยท (Permalink)
I asked discover to provide me with a provisional credit because they couldn't locate my 50k deposit into my savings after a week. They said no but theyll keep looking. Filed a complaint for a reg d violation with the CFPB and had my money within two hours.
Sigurlion ยท 3 points ยท Posted at 22:12:34 on March 21, 2018 ยท (Permalink)
I'm shocked to see so many people on /r/personalfinance with credit card balances that have been paying APR
thewitchof-el ยท 3 points ยท Posted at 22:30:55 on March 21, 2018 ยท (Permalink)
So because people are asking for lower APR you assume that they're carrying a balance?
varnalama ยท 2 points ยท Posted at 00:10:15 on March 22, 2018 ยท (Permalink)
There really is no reason to ask for it if you don't. A lower APR doesn't affect your credit score. You're better off asking for a credit limit increase.
Sigurlion ยท 1 points ยท Posted at 23:55:06 on March 21, 2018 ยท (Permalink)
Yeah, it turns out I did assume that. I just went back and re-read the comments, and I guess I have no basis for my statement. My bad.
SoCalKingg ยท 4 points ยท Posted at 19:12:28 on March 21, 2018 ยท (Permalink)*
I had 0% APR on Discover for 8 years straight until I realized their dispute resolution process is horrible, and I cancelled my card. Good cashback, friendly customer service, but if you ever have to dispute something, good luck. Just keep asking them to extend the promo when it expires.
[deleted] ยท 10 points ยท Posted at 19:21:05 on March 21, 2018 ยท (Permalink)
[deleted]
drybull ยท 2 points ยท Posted at 20:29:07 on March 21, 2018 ยท (Permalink)
I also had to use a dispute with them, it was handled well enough to my liking and I wasn't responsible for the charge while they investigated. I had a similar experience with US Bank though...
SoCalKingg ยท 3 points ยท Posted at 19:39:46 on March 21, 2018 ยท (Permalink)
I didn't have an issue with them until right before I closed the account, roughly a year ago. Their mishandling of the dispute process cost me $450, and I cancelled them immediately. My case went all the way up to the Executive Office of Customer Advocacy, and the entire process was a mess.
drybull ยท 2 points ยท Posted at 20:29:44 on March 21, 2018 ยท (Permalink)
Would you be kind enough to state the year you had this issue with Discover?
SoCalKingg ยท 1 points ยท Posted at 21:37:07 on March 21, 2018 ยท (Permalink)
Last year in March/April
Username_Number_bot ยท 2 points ยท Posted at 22:27:42 on March 21, 2018 ยท (Permalink)
Could you provide fewer details?
Slightly-Average ยท 2 points ยท Posted at 01:54:43 on March 22, 2018 ยท (Permalink)
This may be a stupid question, but if OP doesnโt carry a balance month-to-month why would they care that their APR was lowered?
[deleted] ยท 2 points ยท Posted at 03:40:51 on March 22, 2018 ยท (Permalink)
[removed]
smarty1017 ยท 2 points ยท Posted at 14:58:39 on March 22, 2018 ยท (Permalink)
Nice... a lot of cards are offering money back and bonuses. I asked my Visa to lower my APR. Yeah right...they raised it 4% more...Thanks a lot...
jacybear ยท 2 points ยท Posted at 22:44:04 on March 21, 2018 ยท (Permalink)
You shouldn't carry a balance on your credit card.
Annabel398 ยท 5 points ยท Posted at 22:50:00 on March 21, 2018 ยท (Permalink)
Also, donโt sleep on the subway.
jacybear ยท 1 points ยท Posted at 00:47:58 on March 22, 2018 ยท (Permalink)
Noted.
thewizardofash ยท 1 points ยท Posted at 22:45:31 on March 21, 2018 ยท (Permalink)
OP never said he was carrying a balance.
jacybear ยท 1 points ยท Posted at 22:50:08 on March 21, 2018 ยท (Permalink)
It's useless to have a 0% APR if you're not carrying a balance. And you shouldn't carry a balance. So the APR shouldn't matter to anyone who's using credit cards responsibly.
DSJ13 ยท 0 points ยท Posted at 03:23:53 on March 22, 2018 ยท (Permalink)
If itโs zero percent youโd be dumb not to
Adius_Omega ยท 3 points ยท Posted at 22:02:30 on March 21, 2018 ยท (Permalink)
I'm surprised how many people have credit cards sporting 20%+ APR
It should be illegal to have anything higher than 10% in my opinion, it truly is a system that feeds off of the uneducated and poor.
KillerofGodz ยท 1 points ยท Posted at 23:00:35 on March 21, 2018 ยท (Permalink)*
I've never had a card with anything lower then in the low 20 percentage area. Aside from intro aprs. Granted most people consider my credit to be relatively new still (about 2 years of history and I only started getting credit thanks to this sub) and I have a low income so they aren't as interested in me.
Edit: Have yet to pay any of them any interest. With APRs like mine I told myself if I ever pay a dime in interest without a very good reason then I'll cut up that card.
financialguide123 ยท 1 points ยท Posted at 19:21:52 on March 21, 2018 ยท (Permalink)
Would you mind sharing with us how you started the conversation? I also have discover.
๐๏ธ Stone-J ยท 14 points ยท Posted at 19:24:45 on March 21, 2018 ยท (Permalink)
It was pretty much, "Hi, I'd like to see if I could lower the APR on my Purchases". From there they just offered 0% and I said sure.
They do not adjust APR on cash advances.
financialguide123 ยท 2 points ยท Posted at 22:02:18 on March 21, 2018 ยท (Permalink)
Awesome. Thank you, youโre the man. Iโll give them a call later today.
Julia_Kat ยท 1 points ยท Posted at 22:50:53 on March 21, 2018 ยท (Permalink)
OP said he/she did online chat. Others had no success on the phone but got it on the chat.
financialguide123 ยท 2 points ยท Posted at 22:51:37 on March 21, 2018 ยท (Permalink)
Thanks for the clarification. Iโll give the chat a try first.
Not_a_CPA ยท 1 points ยท Posted at 20:14:28 on March 21, 2018 ยท (Permalink)
I just tried it too and it worked. Just asked on their online chat and they offered 0% for 12 months.
[deleted] ยท 1 points ยท Posted at 20:54:52 on March 21, 2018 ยท (Permalink)
[removed]
Mrme487 ยท 1 points ยท Posted at 01:51:51 on March 22, 2018 ยท (Permalink)
Me too. All I can say is that I don't think this is an ad. Here is why:
It is from an established account with at least some prior history in this sub.
There is nothing unique/special about this to Discover - many credit card companies do this.
Discover tends to be a popular choice for many members of this sub.
It isn't clear if this would even make Discover money or not. In the pro camp - potentially more customers. In the con camp - less interest revenue.
Anyway, not sure if getting a response in green font makes you more or less suspicious of the thread - all I can say is that I detest any and all forms of "content marketing" and "native advertising". I'm sure some of the "best" types sneak by, but you have my word that I will never intentionally let that happen here. Unfortunately, at some point, we can only moderate based on what is verifiable.
Anicha1 ยท 1 points ยท Posted at 21:15:55 on March 21, 2018 ยท (Permalink)*
Good to know. Do you call them or can you ask them over the internet?
Update: I did what you said and they offered to lower mine by less than 1%. I declined the offer. I never use that card anyways.
gamester990 ยท 1 points ยท Posted at 21:16:18 on March 21, 2018 ยท (Permalink)
thank you! Awesome. I was getting some interest on my Chase Visa card and now I'll use the Discover. I've had it for a couple years but don't use it much.
I was able to score 0% for 12 months :) Awesome
3-DMan ยท 1 points ยท Posted at 21:16:35 on March 21, 2018 ยท (Permalink)
Good advice, even if you never plan to use it. You never know when your life will go to shit and you need a year of something expensive with no interest.
[deleted] ยท 1 points ยท Posted at 21:31:50 on March 21, 2018 ยท (Permalink)
Does carrying a balance with 0% APR still negatively impact your credit?
varnalama ยท 1 points ยท Posted at 00:02:08 on March 22, 2018 ยท (Permalink)
It can. Your ratio of balance to credit limit will still affect your credit score. If you have a maxed out credit card with 0% APR it still looks bad for those who are looking to give you more credit.
AstonishingTip ยท 1 points ยท Posted at 21:33:07 on March 21, 2018 ยท (Permalink)
Do you think they would do this if I have a current balance or should I pay it and then ask? I always pay the full amount either way but I'm just not sure if it would be better to wait till a $0 balance or just ask now.
farlack ยท 1 points ยท Posted at 21:33:56 on March 21, 2018 ยท (Permalink)
Do they do a credit check for this type of stuff?
varnalama ยท 1 points ยท Posted at 00:02:45 on March 22, 2018 ยท (Permalink)
It depends on the card. You would have to ask your card provider to see if they pull your credit or not for APR reductions or credit limit increases.
frowaway96 ยท 1 points ยท Posted at 21:37:45 on March 21, 2018 ยท (Permalink)
tried it with chase a couple months ago and they said no.... feelsbadman
canikony ยท 1 points ยท Posted at 21:42:13 on March 21, 2018 ยท (Permalink)
I'm actually on my 2nd year of this, gonna try my luck once again when that time comes lol.
somanydimensions ยท 1 points ยท Posted at 21:45:53 on March 21, 2018 ยท (Permalink)
I tried this before, but since I had a balance they wanted all the interest.
thaDEA2470 ยท 1 points ยท Posted at 21:46:01 on March 21, 2018 ยท (Permalink)
Would this work for USAA? Am wondering because itโs not as big a bank as some of the other banks mentioned in this thread.
idreamofkewpie ยท 1 points ยท Posted at 21:46:05 on March 21, 2018 ยท (Permalink)
They did this for us last year, it actually runs out next month and we have zero balance! Woo hoo!
Gabriel12008 ยท 1 points ยท Posted at 21:48:29 on March 21, 2018 ยท (Permalink)
I just tried with USAA and no luck. The lady told me that they are not lowering ANY credit cards APR.
red_dog007 ยท 1 points ยท Posted at 22:03:13 on March 21, 2018 ยท (Permalink)
Is it 0% on the current total, or just for new purchases?
๐๏ธ Stone-J ยท 3 points ยท Posted at 22:05:12 on March 21, 2018 ยท (Permalink)
New purchases starting the following day.
[deleted] ยท 1 points ยท Posted at 22:03:26 on March 21, 2018 ยท (Permalink)
[removed]
Mrme487 ยท 1 points ยท Posted at 22:06:03 on March 21, 2018 ยท (Permalink)
Your comment has been removed because we don't allow political discussions, political baiting, or soapboxing (rule 6).
Cdot1991 ยท 1 points ยท Posted at 22:04:05 on March 21, 2018 ยท (Permalink)
I just called and got my APR lowered by 5%! Thanks for the idea!
laughingcolors ยท 1 points ยท Posted at 22:18:41 on March 21, 2018 ยท (Permalink)
They helped me out with a payment plan when amex wasnt very helpful.
young-and-mild ยท 1 points ยท Posted at 22:20:04 on March 21, 2018 ยท (Permalink)
They did the same for me! And I asked, like, 3 months after the initial 0% for 12 months I had for opening my account. I've been a customer for years and have no complaints.
the_dharmainitiative ยท 1 points ยท Posted at 22:20:23 on March 21, 2018 ยท (Permalink)
They gave you the offer because they know if they didn't, your next move would be to transfer the balance to a bank that offers 0% APR for 12 months.
Snuggles596 ยท 1 points ยท Posted at 22:22:57 on March 21, 2018 ยท (Permalink)
As someone who works in the credit card industry (merchant side) I strongly urge all business owners to contact their merchant provider and see if they can see about a rate reduction. While some merchants do have stellar pricing, some clients will have a lot of room for reduction and can achieve a significant savings with just a phone call.
randallphoto ยท 1 points ยท Posted at 22:40:47 on March 21, 2018 ยท (Permalink)
I did the same thing a couple months ago. They offered to lower the apr by 1% or get another 12 months of 0%
ryrylevi ยท 1 points ยท Posted at 22:46:54 on March 21, 2018 ยท (Permalink)
I don't normally carry a balance but I feel much safer at 0%. Thanks for sharing!
mrwhitewalker ยท 1 points ยท Posted at 22:52:34 on March 21, 2018 ยท (Permalink)
I had this done my first three years due to a Slickdeals . I loved it. Now they took out most benefits so idk how much I'll use it
Lunasi ยท 1 points ยท Posted at 23:01:07 on March 21, 2018 ยท (Permalink)
As someone who works in the social media department of a large company I can tell you we're always more responsive to online messages because it's public. People complain to every friend online when they don't get their way
YouDontSurfFU ยท 1 points ยท Posted at 23:01:17 on March 21, 2018 ยท (Permalink)
Just called them and i got the same promo! 0% for 12 months. Thanks!
Monstot ยท 1 points ยท Posted at 23:01:20 on March 21, 2018 ยท (Permalink)
Can someone explain how can I get lower permanent APR? Cards always say x% - xx%
And it seems too be around a higher number and not sure how to lower that permanently.
thewitchof-el ยท 2 points ยท Posted at 23:13:04 on March 21, 2018 ยท (Permalink)
APR with credit cards isn't permanent, it's always variable as it can change at any time.
Monstot ยท 1 points ยท Posted at 23:21:15 on March 21, 2018 ยท (Permalink)
Oh cool thank you! I wasn't sure
N_TX ยท 1 points ยท Posted at 23:03:46 on March 21, 2018 ยท (Permalink)
They sent me a letter saying I had 0 Apr for 12 months without contact...
SomeLoser23 ยท 1 points ยท Posted at 23:05:38 on March 21, 2018 ยท (Permalink)
Woot just called capital one and got my apr lowered by 6% for 7 months!
lvav68 ยท 1 points ยท Posted at 23:06:27 on March 21, 2018 ยท (Permalink)
I just tried with capital one, I have Quicksilver, it was a no go on any changes till May ( every 6 months) But I can't complain. I never carry a balance, and they help build up my credit score! I do have 3 other cards I can call and see what I get!
theGentlemanInWhite ยท 1 points ยท Posted at 23:12:57 on March 21, 2018 ยท (Permalink)
I went from 19% to 17% just by asking. Thanks for the tip!
musicals4life ยท 1 points ยท Posted at 23:17:27 on March 21, 2018 ยท (Permalink)*
....I'm gonna call my CC company right now. Never thought this was an option
Edit: they said no :(
anneylani ยท 1 points ยท Posted at 01:47:39 on March 22, 2018 ยท (Permalink)
Who do you have?
musicals4life ยท 1 points ยท Posted at 01:48:53 on March 22, 2018 ยท (Permalink)
Wells Fargo
Anyna-Meatall ยท 1 points ยท Posted at 23:18:01 on March 21, 2018 ยท (Permalink)
It doesn't hurt as long as it doesn't cause you to run a balance into the next year, that is. Which is what they're hoping for and why they said yes.
fritolay77 ยท 1 points ยท Posted at 23:26:42 on March 21, 2018 ยท (Permalink)
How did you ask?
char900 ยท 1 points ยท Posted at 23:30:52 on March 21, 2018 ยท (Permalink)
Not sure if this has been asked, but if you have a running balance after those 12 months will they charge for interest then?
For example, some store cards have promotions for "0% interest for 6 months!" But it's actually just deferred interest and they will charge you the full interest if the balance isn't paid in full in those 6 months.
Augustaplus ยท 1 points ยท Posted at 23:32:35 on March 21, 2018 ยท (Permalink)
The credit card company is hoping you make a big purchase and forget when the one year mark ends, so they can hit you with all that back interest.
rap31264 ยท 4 points ยท Posted at 23:41:26 on March 21, 2018 ยท (Permalink)
I didn't forget but I'm there right now unfortunately...
tiredmommy13 ยท 1 points ยท Posted at 23:33:00 on March 21, 2018 ยท (Permalink)
Great tips. My citi app let me request an increase and BOOM! Instant approval
tiredmommy13 ยท 1 points ยท Posted at 23:33:35 on March 21, 2018 ยท (Permalink)
Thank you
privatexradio ยท 1 points ยท Posted at 23:35:48 on March 21, 2018 ยท (Permalink)
Okay, this might be a stupid question: do they a hard pull on your credit when you ask this?
thewitchof-el ยท 2 points ยท Posted at 23:37:33 on March 21, 2018 ยท (Permalink)
No.
varnalama ยท 2 points ยท Posted at 00:05:57 on March 22, 2018 ยท (Permalink)
Actually it depends. You can ask the card provider if it requires a hard pull.
privatexradio ยท 1 points ยท Posted at 01:47:44 on March 22, 2018 ยท (Permalink)
Say Capital One for example?
varnalama ยท 1 points ยท Posted at 01:55:34 on March 22, 2018 ยท (Permalink)
Sorry, I don't work for them. I only work in the industry. Normally I know it's a soft pull for APR reductions but they can request a hard pull if they notice discrepancies or if you request one.
Eddzyboy ยท 1 points ยท Posted at 23:53:29 on March 21, 2018 ยท (Permalink)
I just got in touch with them and asked myself, no questions or arguments, and got 2 different offers. Went with the 0% for 12 months as well. Thanks for the tip!
a-man-duh-85 ยท 1 points ยท Posted at 23:57:58 on March 21, 2018 ยท (Permalink)
I did this last summer. Spent the next few months remodeling my house. Planning on doing it again this summer.
cheezturds ยท 1 points ยท Posted at 23:58:01 on March 21, 2018 ยท (Permalink)
If only theyโd be so kind in their student loan department.
[deleted] ยท 1 points ยท Posted at 00:05:15 on March 22, 2018 ยท (Permalink)
[removed]
Mrme487 ยท 1 points ยท Posted at 01:32:11 on March 22, 2018 ยท (Permalink)
My gut says no. But if you have any actual evidence, please send the mod team a message as we take violations of the rule against advertising very seriously.
jackrosenhauer ยท 1 points ยท Posted at 00:12:25 on March 22, 2018 ยท (Permalink)
Bank of America has 15 month 0% balance transfers too
aces613 ยท 1 points ยท Posted at 00:12:52 on March 22, 2018 ยท (Permalink)
Donโt ask when you are revolving heavily. They wonโt do it, they already gotcha. Ask when you are paying it off each month or not using it. A permanent decrease is preferable over promo but it never hurts. Also ask for periodic line increases in the same way (not more than once every 6 months).
McTurtleHurdles ยท 1 points ยท Posted at 00:16:44 on March 22, 2018 ยท (Permalink)
I did this back in August. They have a really great company to me. And they said once the 12 months are up to call back ask about APR adjustments and or other promos.
supplyncommand ยท 1 points ยท Posted at 00:18:59 on March 22, 2018 ยท (Permalink)
ummmmm will chase do this?????
lolabunnie ยท 1 points ยท Posted at 00:29:52 on March 22, 2018 ยท (Permalink)
Nope ๐
supplyncommand ยท 1 points ยท Posted at 00:44:50 on March 22, 2018 ยท (Permalink)
poop
AndrewDrivesTooFast ยท 1 points ยท Posted at 00:23:18 on March 22, 2018 ยท (Permalink)
Just tried this with AmEx - didn't get 0 but dropped to a third of my current APR.
Shoutout to OP
harmiie ยท 1 points ยท Posted at 00:26:32 on March 22, 2018 ยท (Permalink)
Just used the chat option on the app. They were way slower to answer than usual, but I was offered a choice of lowering my APR from 21% to 19%, or 0% for 12 months I took the 0%, since I try to pay off my statements in full anyways. :')
Drezzzire ยท 1 points ยท Posted at 00:27:45 on March 22, 2018 ยท (Permalink)
This wonโt be useful after today lmao
Theyโve probably had over 6k people try this.
Now theyโll change their policy lol
Reddit crashes their online chat too๐
benfoldsweaters ยท 1 points ยท Posted at 05:32:51 on March 22, 2018 ยท (Permalink)
nah man. I've done this with this Discover and other cards for YEARS. I didn't realize this was some insider secret. Thought everyone knew you could always ask. Credit card act of 2009 incentives these companies to occasionally check to see if you're eligible for a lower rate.
superyay ยท 1 points ยท Posted at 00:28:30 on March 22, 2018 ยท (Permalink)
but if you're responsible with your credit and pay off your balance per month, this shouldn't be necessary.
intangibleJay ยท 1 points ยท Posted at 00:29:45 on March 22, 2018 ยท (Permalink)
Have you?... For example...call up your credit card and politely ask to remove the year fee? I just got Amex with a fee of $195, this inspires me to ask what other things can i finagle at.
bbreezii ยท 1 points ยท Posted at 00:34:04 on March 22, 2018 ยท (Permalink)
At chase they won't look but Discover they always do! Source: worked at both places. Chase you can't even tell if something can be done as an employee. :(
Shin_Ichi ยท 1 points ยท Posted at 00:34:21 on March 22, 2018 ยท (Permalink)
I called and got it lowered from 23% to 18%
catgatuso ยท 1 points ยท Posted at 00:43:31 on March 22, 2018 ยท (Permalink)
If I have a fairly high balance on my cards (which Iโm working towards paying off), are card companies less likely to say yes if I ask for a lower APR?
dj_destroyer ยท 1 points ยท Posted at 00:51:11 on March 22, 2018 ยท (Permalink)
I guess it makes sense when other credit cards will take over your debt for the same rate. The current company likely wants to keep your business and hope you go two years into debt. Kinda fucked but whatever.
mxim7 ยท 1 points ยท Posted at 00:52:04 on March 22, 2018 ยท (Permalink)
I recently went into an unplanned overdraft and got charged ยฃ50 in fees. I rang the bank and asked if they could refund me and they did, just like that. Sometimes you are pleasantly surprised.
thexyzaffair ยท 1 points ยท Posted at 00:54:23 on March 22, 2018 ยท (Permalink)
I always make the same joke to people ringing me up or customer service reps: โThey told me you were the boss, that theyโre scared of you, and Iโd have to ask you for a discount.โ Works ~10% of the time.
Foamstick ยท 1 points ยท Posted at 00:56:11 on March 22, 2018 ยท (Permalink)
I wonder if it works on their personal loans
[deleted] ยท 1 points ยท Posted at 00:59:26 on March 22, 2018 ยท (Permalink)
My friendโs friend said that he would call (I forget how often) and would tell them he wanted to cancel his credit account. He said that the credit card company gave him one of two choices: either they would raise his available credit or lower his APR just to keep him as a customer.
I never did it but it seems like something worth trying, especially if youโre thinking of canceling due to high rates.
tiredmommy13 ยท 1 points ยท Posted at 01:01:45 on March 22, 2018 ยท (Permalink)
So I was only being double charged for my package + the security junk for a few weeks. I went to pay my monthly cable bill and saw over $500 of charges. When they finally sorted everything out I must have gotten locked into the 2 year โcontractโ. I use quotes because I didnโt know it was a thing until I wanted to change providers a year later
[deleted] ยท 1 points ยท Posted at 01:11:06 on March 22, 2018 ยท (Permalink)
I used the online chat tool and got the same promo OP did!
MrNewMoney ยท 1 points ยท Posted at 01:13:01 on March 22, 2018 ยท (Permalink)
Iโve been really happy with Discover. Easy to use, good service. 1% cash back + 5% rotating categories + dollar for dollar cash back match at end of the first year. I donโt feel like that cash back match ever gets talked about much, but it really adds up.
[deleted] ยท 1 points ยท Posted at 01:13:47 on March 22, 2018 ยท (Permalink)
If I have 0% APR will it still hurt my credit score to carry over balances?
musselshirt67 ยท 1 points ยท Posted at 01:25:52 on March 22, 2018 ยท (Permalink)
I'm on mobile and thus can't search the thread, can anyone tell me how Chase is with this type of inquiry? I've got two cards with then with shitty rates, I've had them for a long time and my credit is great. My wife has a different chase card that is like 8% lower than mine and her credit history is at least 5 years younger than mine.
Annabel398 ยท 1 points ยท Posted at 12:16:57 on March 22, 2018 ยท (Permalink)
Chase probably wonโt do it. Theyโll raise your CL though if you havenโt asked in a year.
thegrandechawhee ยท 1 points ยท Posted at 01:27:44 on March 22, 2018 ยท (Permalink)
although its possible they check your credit when this happens. I've been turned down after asking for a credit increase which i think brought my score down slightly. Also be careful doing this if you're in the middle of applying for a mortgage.
Finchypoo ยท 1 points ยท Posted at 01:37:58 on March 22, 2018 ยท (Permalink)
Or if you don't normally leave a balance on your cards, wait to do this before you make a big purchase where you might want to. AMEX often offers me 0% for 12months, but I always turn it down because I never have a balance on the card. I want to make sure what id I ever do something completely ridiculous, like buy a car outright with my card, I'm pretty much guaranteed to be able to get the deal right before I do. $25k limit and 0% makes something like a massive emergency purchase really easy to deal with.
ih8reddit420 ยท 1 points ยท Posted at 01:42:43 on March 22, 2018 ยท (Permalink)
Work as a manager on contact centers and I've experienced quite a lot of them. You can ask agents to lower APR or get available promos.
You requests will be blocked if you do more than 1 within a 6mo. period, after that you can try again
[deleted] ยท 1 points ยท Posted at 02:02:42 on March 22, 2018 ยท (Permalink)
Itโs on new purchases...not your current balance..just a heads up my dude.
EDIT: also source worked for discover.
rowdyanalogue ยท 1 points ยท Posted at 02:09:35 on March 22, 2018 ยท (Permalink)
Oof. For reference, I fell behind and hit my limit, asked them the same question and they put me on a program that locked my card for 6 months and lowered my APR to 9.99%. Don't get me wrong, I'm glad to have the lower rate! 0% would have been better, of course.
JaggedMedici ยท 1 points ยท Posted at 02:24:29 on March 22, 2018 ยท (Permalink)
Can you get a bunch of cash, invest in bond funds and then pay it back a year later while keeping the interest?
-yocto- ยท 1 points ยท Posted at 02:37:03 on March 22, 2018 ยท (Permalink)*
A few years ago I tried something similar, and the analyst on the phone decided that my circumstances warranted a raising of my APR (or possibly a decrease in the amount I could borrow; my memory is a little fuzzy). I think I stopped using that card shortly after that.
GunnerMcGrath ยท 1 points ยท Posted at 02:41:49 on March 22, 2018 ยท (Permalink)
I called American Express to see if I could get the $95 annual fee waived recently. Dude basically laughed at me, in a very polite way of course.
[deleted] ยท 1 points ยท Posted at 03:39:49 on March 22, 2018 ยท (Permalink)
[removed]
[deleted] ยท 1 points ยท Posted at 14:06:58 on March 22, 2018 ยท (Permalink)
[removed]
expiredeternity ยท 1 points ยท Posted at 02:53:47 on March 22, 2018 ยท (Permalink)
Better yet. Pay off the balance every month and you pay ZERO interest for ever. Credit cards are the single worst way to finance a purchase.
aliendude5300 ยท 1 points ยท Posted at 02:56:35 on March 22, 2018 ยท (Permalink)
Worked for me, nice and easy - which is pretty awesome. I'm actually moving in a few months, so this will help out a lot to be able to borrow money short-term interest-free.
electro_report ยท 1 points ยท Posted at 03:01:56 on March 22, 2018 ยท (Permalink)
Will they do this even with a poor credit score?
benfoldsweaters ยท 1 points ยท Posted at 05:42:48 on March 22, 2018 ยท (Permalink)
I still got a 0% last year when my credit was in the tank. didn't work this year but never hurts to try.
ApatheticAbsurdist ยท 1 points ยท Posted at 03:12:16 on March 22, 2018 ยท (Permalink)
Be careful of any fine print involved with special APRs like 0%... often they'll have stipulations that you must make at least minimum payments and pay off the balance by the end of the term or the interest is retroactively applied back. Of course minimum payment will not pay off the value in a year, so you need to pay 1/12th the initial balance or more to make sure you get it down in time.
MickyC51 ยท 1 points ยท Posted at 03:21:07 on March 22, 2018 ยท (Permalink)
It's always good to call your cable TV provider, your cell phone company, your internet service, all of them and others periodically to get better deals. If you are calling your credit card company to get lower interest rates that is good but that means you are paying interest on your CC purchases which means you are spending more than you can afford. So you are lessening the damage but you are signing up for damage. Rethink.
VeganMcVeganface ยท 1 points ยท Posted at 03:23:15 on March 22, 2018 ยท (Permalink)
I open a new discover card every year just for the cash back double bonus. Ive never paid a dime in interest and I've pocketed maybe $2500 in cash back.
zman_46 ยท 1 points ยท Posted at 03:43:56 on March 22, 2018 ยท (Permalink)
Doesnโt the double bonus only work for new customers?
VeganMcVeganface ยท 1 points ยท Posted at 04:03:51 on March 22, 2018 ยท (Permalink)
Yes.. Well, new accounts.
So I open a new card and cancel my old one. My credit is in the 800 range so that probably helps.
fugaciousone ยท 1 points ยท Posted at 03:35:50 on March 22, 2018 ยท (Permalink)
Anything to keep you a customer
epheterson ยท 1 points ยท Posted at 03:40:25 on March 22, 2018 ยท (Permalink)
AmEx dropped me 1% to 15.something when I asked.
[deleted] ยท 1 points ยท Posted at 03:58:14 on March 22, 2018 ยท (Permalink)
Can confirm. I do it every year or so.
LeanTheWayILeanDamit ยท 1 points ยท Posted at 04:06:51 on March 22, 2018 ยท (Permalink)
Just tried this with AMEX. I do not carry a balance month to month, so I was unaware that I was already under a promotional 9.99% APR until December. They would not lower because of that. I am sure people who are not under promotional APR's will have better luck.
SunDevils0812 ยท 1 points ยท Posted at 04:13:57 on March 22, 2018 ยท (Permalink)
I donโt carry a balance so it really didnโt matter. I figured I would decline and try again in a few months. My assumption would be that if I accept a promotional rate now my chances of getting a better one in the future would be worse. I could be wrong, but Iโll risk 2% to find out.
Covfefe_Pudding ยท 1 points ยท Posted at 04:39:18 on March 22, 2018 ยท (Permalink)
I had years of perfect payment history with Wells F and tried this. They told me I could stuff it in the politest way in which they'd been trained. I warned them my only alternative was to file bankruptcy, and they said yes, we know. I did so shortly after and they had to eat the whole balance.
zman_46 ยท 1 points ยท Posted at 04:40:37 on March 22, 2018 ยท (Permalink)
Ah I figured they kept track of who has previously had accounts, so you wouldnโt be able to do that. Do you have to use all the cash back before you cancel?
Whitey1624 ยท 1 points ยท Posted at 04:49:50 on March 22, 2018 ยท (Permalink)
My wife and I switched banks because of our CC rate of 13.99. we both have credit scores of over 800 and now are at 11.99.. I need to make a phone call.
ikean ยท 1 points ยท Posted at 04:55:43 on March 22, 2018 ยท (Permalink)
You'll still pay the original high interest on anything you had occurred debt for before they offered you the deal. Additionally, any balance remaining from purchases within this 12 month period will be subject to high interest if not paid in full after the period expires. Really, you're not getting much (and they're not giving much) but incentive to accrue interest again. It's more of a good deal for them, and better (for them) than it sounds.
DrKriegerDO ยท 1 points ยท Posted at 05:00:56 on March 22, 2018 ยท (Permalink)
What if you carry a balance, would they still do it
[deleted] ยท 1 points ยท Posted at 06:53:18 on March 22, 2018 ยท (Permalink)
[deleted]
ErgasophobicMD ยท 1 points ยท Posted at 09:29:49 on March 22, 2018 ยท (Permalink)
It should be (cynically) pointed out that the reason they would lower the APR for someone who doesn't carry a balance, is to encourage that person to become accustomed to carrying a balance (since it's temporarily 'free'), and then hope they are unable to resume their discipline after the temporary APR period is over...
Darth_Surillious ยท 1 points ยท Posted at 05:04:43 on March 22, 2018 ยท (Permalink)
I tried this about a month ago with Chase and they told me they can't change APR since it's not set by them. Obviously they lied or I didn't ask the right question.
Robert_Rocks ยท 1 points ยท Posted at 05:50:34 on March 22, 2018 ยท (Permalink)
I do this with DirecTV about once every 18 months. I usually get some sort of discount for some period of time. Every penny counts and it is usually more than simply pennies.
Itroll4love ยท 1 points ยท Posted at 06:13:11 on March 22, 2018 ยท (Permalink)
dont they run your credit?
ChrisIsBored ยท 1 points ยท Posted at 07:27:07 on March 22, 2018 ยท (Permalink)
I asked for a credit increase through the app... approved instantly for an extra $4,900.
Wall_Paulker ยท 1 points ยท Posted at 10:55:09 on March 22, 2018 ยท (Permalink)
@OP How did the message (worded) or call go? I'm in a similar situation where if I had some breathing room with them, I could feasibly have my card paid off within the year. I've been in great standing with Discover for close to a decade now.
chuiy ยท 1 points ยท Posted at 11:09:35 on March 22, 2018 ยท (Permalink)
Remember to get drunk and call your ISP. They gave me free internet for three months.
OceanSlim ยท 1 points ยท Posted at 11:51:07 on March 22, 2018 ยท (Permalink)
Discover and AE can and will do this. Visa and MC... Not so much.
PrO1210 ยท 1 points ยท Posted at 12:13:21 on March 22, 2018 ยท (Permalink)
My oldest account and I'd have to say my best. Their customer care is top notch.
816Creations ยท 1 points ยท Posted at 12:13:31 on March 22, 2018 ยท (Permalink)
Anyone try this with a card other than Discover? I have three rewards cards through Chase and thought this might be worth a shot.
Steel_Worker ยท 1 points ยท Posted at 12:22:15 on March 22, 2018 ยท (Permalink)
Late to the party, but asked for a reduced rate via chat as well. They gave me the option of 0% for 12 months or to reduce my rate by 4%. I took the 4% reduction for the long term benefits. Thanks for the tip! Gonna try it with the rest of my cards
schlocke ยท 1 points ยท Posted at 13:06:52 on March 22, 2018 ยท (Permalink)
This was a good morning. To add though they offered me the option of 0% for 12 months or 5% lower apr from my current.
FamousLastPants ยท 1 points ยท Posted at 13:16:14 on March 22, 2018 ยท (Permalink)
I tried with Chase and they indicated there was nothing they could do. Maybe a stingy rep on the phone, has anyone else had any luck with chase?
MrPurse ยท 1 points ยท Posted at 13:29:21 on March 22, 2018 ยท (Permalink)
I asked capital one for the 0% 12 month apr rate through multiple channels because I really have enjoyed them, but they said no so I did a balance transfer to chase (best decision ever)....and then capital sent me a flyer in the mail for 0%. Worst marketing ever.
Llohr ยท 1 points ยท Posted at 13:50:48 on March 22, 2018 ยท (Permalink)
Discover is a lot better about increasing credit lines than my other cards.
Unique-Reddit ยท 1 points ยท Posted at 13:59:20 on March 22, 2018 ยท (Permalink)
Wait Discover Card is real? I thought it was just a meme in American Dad. Damn
swayzejohnson ยท 1 points ยท Posted at 14:14:41 on March 22, 2018 ยท (Permalink)
I just did this to my Cap One Venture card. Went from to 24.24% to 20.15% and all i had to do was the online chat with them! Thanks for the tip OP!
mcclark71 ยท 1 points ยท Posted at 14:16:18 on March 22, 2018 ยท (Permalink)
Something similar happened to me as well, except I took my balance a little too high and asked for help, they gave me 14 points lower on the rate if I switched to auto pay and stopped using the card, which saves me quite a few hundred towards principle. Every bit helps!
xtreme217 ยท 1 points ยท Posted at 14:29:17 on March 22, 2018 ยท (Permalink)
I don't know why I didn't think of this either but I gave them a call because of your post and I was able to gain the same offer. Thanks for sharing!
blaqmass ยท 1 points ยท Posted at 14:42:37 on March 22, 2018 ยท (Permalink)
Lots of times Iโve found just asking really works. Especially on a call. Lots of times fees cancelled or dropped or even refunded by banks
eddiekoski ยท 1 points ยท Posted at 14:45:17 on March 22, 2018 ยท (Permalink)
Prediction
11 months from now on /r/personalfinance help I have maxed out my card and only have 1 month left of 0% apr
bozar86 ยท 1 points ยท Posted at 14:54:55 on March 22, 2018 ยท (Permalink)
Discover is awesome. Just told a friend about this last week.
fritolay77 ยท 1 points ยท Posted at 15:17:35 on March 22, 2018 ยท (Permalink)
I asked them through chat and they offered to drop my interest from 25% to 19% OR 0% for a year. I took the 0%, thanks so much OP! By the time I pay off my remaining balance you'll have saved me $200+.
Stephs_mouthpiece ยท 2 points ยท Posted at 17:25:50 on March 22, 2018 ยท (Permalink)
Just be aware itโs for purchases after the date you get the new rate, not on existing balances
fritolay77 ยท 1 points ยท Posted at 21:51:13 on March 22, 2018 ยท (Permalink)
Ah Damn.
chamtrain1 ยท 1 points ยท Posted at 15:22:40 on March 22, 2018 ยท (Permalink)
I have a southwest airlines card that I've decided to get rid of because of the annual fee. The past two years when I called to cancel they credited my account the annual fee.
mohajaf ยท 1 points ยท Posted at 15:44:16 on March 22, 2018 ยท (Permalink)
People please make it your first priority to payoff your balance in every month. Donโt put debt on your CC that you canโt afford. No matter what the rate.
sendmeyourjokes ยท 1 points ยท Posted at 15:49:56 on March 22, 2018 ยท (Permalink)
I have a discover card (when my credit was fucked) at 20% (I pay it in full each month, so idgaf).
About 3 months after getting the card, I got a "sign up with discover card" in the mail, for the exact same card, for 10% apr.
When I called, they stated if I wanted the lower APR I should sign up for the other card...
matty_a7 ยท 1 points ยท Posted at 15:57:45 on March 22, 2018 ยท (Permalink)
Just did the same thing myself.. was putting a portion of an engagement ring on a card (I know, big no-no especially in this sub) and I obviously wanted 0% APR.. they lowered my current rate to 0 as well.
i_dont_eat_peas ยท 1 points ยท Posted at 16:00:04 on March 22, 2018 ยท (Permalink)
Can I mention one other utility... Garbage collection. I asked and got down to $215/year. Half of what i was paying.
technicalanarchy ยท 1 points ยท Posted at 16:04:33 on March 22, 2018 ยท (Permalink)
I tried it with Comcast, they doubled my bill.....
SirThomas813 ยท 1 points ยท Posted at 16:48:28 on March 22, 2018 ยท (Permalink)
discover offered me a new standard rate of 17.49% down from 25.24% or a promo rate of 0% for 12 months. i took the new standard since i wasn't planning on making any large purchases soon.
gotasleep07 ยท 1 points ยท Posted at 16:59:12 on March 22, 2018 ยท (Permalink)
I just got offered a promo of 6 months 0% APR for my Wells Fargo Credit Card. Better than nothing!
wfox0294 ยท 1 points ยท Posted at 17:11:53 on March 22, 2018 ยท (Permalink)
I got this deal last year, might as well try again. It was a huge help with wedding expenses.
Ptypablo ยท 1 points ยท Posted at 17:26:58 on March 22, 2018 ยท (Permalink)
Discover is great with this, I've asked a few times for 0% balance transfer or 0% on purchases and they've done it. I used the 0% balance transfer to pay off culinary school loans and to pay off other cards that had high APR's.
I tried asking for 0% with another card, probably citi and they just said they don't do it
SamsungVR_User ยท 1 points ยท Posted at 17:30:25 on March 22, 2018 ยท (Permalink)
Yeah, they gave me that last April.
alanbenj ยท 1 points ยท Posted at 17:39:39 on March 22, 2018 ยท (Permalink)
well, i tried it for my capital one credit card and no bueno. i even said i'd have to find a new credit card company and that didn't work either haha.
RiffyDivine2 ยท 2 points ยท Posted at 19:34:43 on March 22, 2018 ยท (Permalink)
It's capital one, they don't need you.
Toxicsmoke_ ยท 1 points ยท Posted at 17:41:23 on March 22, 2018 ยท (Permalink)
I did this after seeing this post and I got the same. Thanks!
btcftw1 ยท 1 points ยท Posted at 18:38:21 on March 22, 2018 ยท (Permalink)
I have no idea why iโm reading these comments, i have no clue what APR is, i donโt have a credit card, but i know for damn sure now iโm gonna save this info somewhere to maybe use it someday
nowaynorway1 ยท 1 points ยท Posted at 18:41:20 on March 22, 2018 ยท (Permalink)
Doesn't work with td bank. Shucks....
Krippy ยท 1 points ยท Posted at 19:08:14 on March 22, 2018 ยท (Permalink)
This just worked for me via chat.
For what it's worth, this is all I said after exchanging pleasantries:
Hope this helps anyone else looking at new comments.
FanofK ยท 1 points ยท Posted at 21:32:55 on March 22, 2018 ยท (Permalink)
Yesterday chat was down... so I messaged them today asking for a lower interest rate. Came back said I have the lowest apr and they could only give me 12 months no interest :) i'm happy. For me i pay this card off every month, mid-700s credit score
UncleSaskwatch ยท 1 points ยท Posted at 01:04:39 on March 23, 2018 ยท (Permalink)
Discover always has that option available. I would recommend that somebody uses it when they're about to make a major purchase or any other thing that they might plan on carrying a balance on. There's no reason to do it if you're not carrying a balance because you don't pay interest if you pay it off within 30 days from the invoice date.
juloto ยท 1 points ยท Posted at 02:23:41 on March 23, 2018 ยท (Permalink)
This is proof that bull market still exists.
NJ-JRS ยท 1 points ยท Posted at 19:43:23 on March 23, 2018 ยท (Permalink)
Woo, confirmed it just work through Live Chat. They gave me option of 0% for 12 months or lowering 2% overall permanently; went with the 0% since I don't carry a balance normally anyway but have a few big furniture purchases coming up.
LotsoWatts ยท 1 points ยท Posted at 18:26:31 on March 26, 2018 ยท (Permalink)
Just got 0% APR, thank you!
Ort895 ยท 1 points ยท Posted at 22:49:06 on March 27, 2018 ยท (Permalink)
Tried this with BOA and they told me to piss off lol. But I tried!
ennsho ยท 1 points ยท Posted at 14:34:16 on March 28, 2018 ยท (Permalink)
This is old but thanks for posting. I just chatted and they offered to take my 13% to 12%. I asked about a 0% for a year offer and she said yes, that is available too. She ended up giving me the 0% promo. Woop.
๐๏ธ Stone-J ยท 1 points ยท Posted at 14:56:50 on March 28, 2018 ยท (Permalink)
Glad I could help :)
VTFC ยท 1 points ยท Posted at 19:13:13 on March 28, 2018 ยท (Permalink)
Nice, just got it :)
They tried to offer 17% first, but I kept asking and they gave me the 0%.
Feels good.
๐๏ธ Stone-J ยท 1 points ยท Posted at 20:10:41 on March 28, 2018 ยท (Permalink)
Awesome! Good to know
[deleted] ยท 1 points ยท Posted at 01:30:23 on April 18, 2018 ยท (Permalink)
I just did this because of reading this a few weeks ago! Thank you!!
SuperDumbDumb ยท 1 points ยท Posted at 19:18:12 on April 19, 2018 ยท (Permalink)
So you basically were like "Hey bro can I get a lower APR?" and then they were like "yeah sure heres 0% fam" ?
That's lit and I am gonna try.
churrytree ยท 1 points ยท Posted at 16:22:33 on April 25, 2018 ยท (Permalink)
Just wanted to say that this worked for me as well. Thank you to the kind and generous soul who posted this and basically gifted me a free, no-interest loan for a year. They may try to offer you a lower interest rate at first, but if you persist, then they'll give you the 0% APR for 12 months. <3
๐๏ธ Stone-J ยท 2 points ยท Posted at 16:36:50 on April 25, 2018 ยท (Permalink)
You're welcome <3
XelaSiM ยท 1 points ยท Posted at 22:53:59 on April 26, 2018 ยท (Permalink)
I've done this consistently for the last three years without any pushback. Love discover.
Cmike9292 ยท 1 points ยท Posted at 18:32:20 on May 17, 2018 ยท (Permalink)
Wow this is awesome. Thanks!
๐๏ธ Stone-J ยท 1 points ยท Posted at 19:11:48 on May 17, 2018 ยท (Permalink)
No problem!
Cmike9292 ยท 1 points ยท Posted at 19:40:07 on May 17, 2018 ยท (Permalink)
By the way just so people are clear, this will only apply to purchases you make AFTER they lower your rate, IIRC. If you have a balance of say $1000, and they lower your interest, the original APR will still apply to anything you bought prior to the decrease, correct?
๐๏ธ Stone-J ยท 1 points ยท Posted at 22:49:04 on May 17, 2018 ยท (Permalink)
Correct.
fatsumbitch ยท 1 points ยท Posted at 20:23:21 on March 21, 2018 ยท (Permalink)
I asked Discover to do that once, then they tried to only lower a little after requesting income details, why my balance was where it was etc.
I guess I was asking for a favor, but fuck them.
uCry_iLoL ยท 0 points ยท Posted at 00:29:10 on March 22, 2018 ยท (Permalink)
I asked and Discover actually increased it.
ebotz ยท 0 points ยท Posted at 00:33:38 on March 22, 2018 ยท (Permalink)
??? I have never heard of that in my life what are you talking about. That doesn't even sound legal
Glowwerms ยท 0 points ยท Posted at 16:13:07 on March 22, 2018 ยท (Permalink)
Iโm calling bull, only time that could happen is if the prime rate increases
interwebbed ยท 1 points ยท Posted at 21:39:06 on March 21, 2018 ยท (Permalink)
no luck for me on their online chat.
Best they could do is 13.24% to 12.14%
these fools.
mutantfreak ยท 1 points ยท Posted at 21:09:33 on March 21, 2018 ยท (Permalink)
Damn it, they actually lowered my rate from 19% to 14%. I wanted 0% for 12 months because I pay off the card every month anyway so 14% and 19% make no difference to me. On the other hand, a 0% APR for 12 months would've meant I could've had an interest free loan for the year :-(
Augustaplus ยท 1 points ยท Posted at 23:33:05 on March 21, 2018 ยท (Permalink)
If you pay it off every month you shouldnโt be getting charged interest at all
mutantfreak ยท 1 points ยท Posted at 11:35:45 on March 22, 2018 ยท (Permalink)
That's exactly my point. I wanted 0% for 12 months so I could have a 0% loan by letting the balance go up. Going from 19% to 14% does nothing for me because I'm not paying interest to the bank
RoundthatCorner ยท 1 points ยท Posted at 21:37:04 on March 21, 2018 ยท (Permalink)
I called Wells Fargo every other day for two weeks to ask this, never happened. Switched credit cards
gdq0 ยท 1 points ยท Posted at 22:09:10 on March 21, 2018 ยท (Permalink)
Leave it open and pay your cell phone bill on it for the insurance.
I got a WF card with $2500. They increased it to $3400 and used that as an excuse to deny me more credit. After I stopped using it for most purchases I got increased to $5000 about 2 years after opening so they could charge businesses the Visa Signature fees rather than the Platinum fees.
ConeCrewCarl ยท 1 points ยท Posted at 23:01:38 on March 21, 2018 ยท (Permalink)
Pro tip, APR doesn't matter when you pay off your balance each month. Get yourself a good rewards card, pay it off each month, and enjoy your credit card company paying you each month
[deleted] ยท 1 points ยท Posted at 23:45:58 on March 21, 2018 ยท (Permalink)*
[removed]
varnalama ยท 1 points ยท Posted at 00:05:02 on March 22, 2018 ยท (Permalink)
Nothing really. I guess really it only helps in case you run into an emergency and need to carry a balance albeit temporarily.
auditinprogress ยท 1 points ยท Posted at 00:29:01 on March 22, 2018 ยท (Permalink)
You could run a balance during the 0% promo period and instead stick that money in some kind of no/low risk investment (high interest savings account, CD, etc). This is really only worth it if your credit limit and spending are high enough. I'm renovating my kitchen right now so being able to run a $15k balance on my card with no interest pays off.
[deleted] ยท 1 points ยท Posted at 00:30:45 on March 22, 2018 ยท (Permalink)*
[removed]
auditinprogress ยท 1 points ยท Posted at 00:34:11 on March 22, 2018 ยท (Permalink)
If you're not getting super high end appliances you could buy them at Home Depot. Or materials/lumber. They will match most places. But yeah don't hire them to install your cabinets or anything.
kyomair ยท 1 points ยท Posted at 23:47:16 on March 21, 2018 ยท (Permalink)
Anyone have any luck trying this with Bank of America? Doesn't look like they have online chat support, and they rejected me over the phone without a second thought.
klef25 ยท 1 points ยท Posted at 00:39:31 on March 22, 2018 ยท (Permalink)
Has anyone here tried www.billshark.com? Supposedly, they do this for you and then charge you 40% of what they saved. I'm a little leary of giving billing info over to a service, but if they can make contact for me on my bills and I don't have to spend my own time doing it, it might be worthwhile.
Matt_Shatt ยท 1 points ยท Posted at 02:16:18 on March 22, 2018 ยท (Permalink)
Same question but for billadvisor.com
Annabel398 ยท 1 points ยท Posted at 12:21:16 on March 22, 2018 ยท (Permalink)
Would you pay someone $4 for a ten dollar bill? (Hint: YES)
On the other hand, you could DIY, which is like getting the ten-spot for free. (Even better.)
SunDevils0812 ยท 1 points ยท Posted at 01:07:10 on March 22, 2018 ยท (Permalink)
Figured I would add my DP. Spoke with a representative online through the chat function. They only offered to lower the APR by 2%. I declined.
Supa33 ยท 1 points ยท Posted at 04:10:24 on March 22, 2018 ยท (Permalink)
Why would you decline them lowering your APR? 2% less is better than what you have now...
maxknuckles ยท 1 points ยท Posted at 03:08:37 on March 22, 2018 ยท (Permalink)
You guys are doing it wrong if you have a credit card if you are carrying a balance long enough to get charged APR percentage. If you can't have your balance paid off every month you probably shouldn't have one
ApertureBear ยท 1 points ยท Posted at 04:18:07 on March 22, 2018 ยท (Permalink)
This is actually a fun way to soft-scam you. They give you the 0% APR to give you incentive to carry a balance. Then, you get used to carrying a balance, the 0% wears off, and BOOM baby, you're paying them.
benfoldsweaters ยท 3 points ยท Posted at 05:56:30 on March 22, 2018 ยท (Permalink)
that's only true if you can't do basic math and you have no self control. in which case you'll be easily soft scammed for most of your life tbh
[deleted] ยท 1 points ยท Posted at 06:25:38 on March 22, 2018 ยท (Permalink)
[removed]
[deleted] ยท 0 points ยท Posted at 01:03:42 on March 22, 2018 ยท (Permalink)
Well I asked the same thing to Visa and now my interest skyrocketed. This is 100% true not made up total legit #truthbomb 420 360 no scope level if truth. it's nottrue
SheriffLevy ยท 1 points ยท Posted at 04:28:07 on March 22, 2018 ยท (Permalink)
Looks legit
didsomeonesaydonuts ยท 0 points ยท Posted at 01:19:44 on March 22, 2018 ยท (Permalink)
I tried a few months back when I knew I wasnโt going to be able to pay off my balance due to just buying a home. Prior I held a very low balance month to month. When I actually needed the help Discover was quick to pretty much tell me nope and not offer a single thing. Itโs when they need you that they seem willing to help.
[deleted] ยท 0 points ยท Posted at 15:10:26 on March 22, 2018 ยท (Permalink)
I would suggest that credit cards are a waste of money, in general.
raginghamster ยท 1 points ยท Posted at 16:37:49 on March 22, 2018 ยท (Permalink)
I would suggest that you are not only wrong, but losing out on thousands of credit card rewards per year. r/churning
[deleted] ยท 1 points ยท Posted at 16:58:57 on March 22, 2018 ยท (Permalink)
I disagree. Most rewards don't offset the cost of credit.
raginghamster ยท 1 points ยท Posted at 17:10:58 on March 22, 2018 ยท (Permalink)
What cost of credit? I've always paid in full each month. I've never been charged interest or any late fee. I'll be earning $500 in chase rewards from my new sapphire card next month.
thewizardofash ยท 1 points ยท Posted at 20:45:57 on March 22, 2018 ยท (Permalink)
Credit doesn't cost anything.
T0talCha0s ยท 1 points ยท Posted at 18:09:15 on March 22, 2018 ยท (Permalink)
You are missing out on all that free money... Just treat your credit cards like a debit card and pay off your statement every month and reap the benefits. Much safer to use than your debit card too.
Fell_On_Black_Days ยท 0 points ยท Posted at 16:13:00 on March 22, 2018 ยท (Permalink)
But if you pay your bill in full each month, why should we be concerned about the APR?
[deleted] ยท -3 points ยท Posted at 22:38:17 on March 21, 2018 ยท (Permalink)
You know how I get 0% APR without any sort of effort? I pay my bill each month.
yoohoo202 ยท 3 points ยท Posted at 22:49:30 on March 21, 2018 ยท (Permalink)
good for you
katch_22 ยท -1 points ยท Posted at 23:30:56 on March 21, 2018 ยท (Permalink)*
Sounds like a great way to get into credit card debt.
edit: i see the downvotes and the butthurt. seriously, these credit card companies are not your pals. they're lowering it so you spend your ass off and then get stuck with the higher APR in a year. if you can't pay for it in full, you can't afford it.
Alphamatroxom ยท -1 points ยท Posted at 21:43:11 on March 21, 2018 ยท (Permalink)
Discover desperately trying to hold onto customers. Shocker
cisxuzuul ยท -1 points ยท Posted at 23:01:14 on March 21, 2018 ยท (Permalink)
Yeah, but itโs Discover.
Default87 ยท -15 points ยท Posted at 19:21:26 on March 21, 2018 ยท (Permalink)
Interesting but ultimately kind of useless. You shouldnโt be carrying a balance month to month on your credit cards, so the interest is irrelevant.
vikramjatt11 ยท 18 points ยท Posted at 19:47:11 on March 21, 2018 ยท (Permalink)
Ummm, no, this is very helpful in so many cases.
One example is paying college tuition. You know you have to pay it but it is going to take you a few months to pay it all off.
Now you can put it on the card instead of taking out a loan and pay it off interest free within a few months.
Drivo566 ยท 3 points ยท Posted at 21:25:02 on March 21, 2018 ยท (Permalink)
Exactly. There are plenty of situations where it's helpful.
When I moved out of state, that pretty much all went on my credit card... I would have absolutely loved to have had 0% interest at the time.
Anicha1 ยท 1 points ยท Posted at 21:16:10 on March 21, 2018 ยท (Permalink)
Exactly.
iphon4s ยท 1 points ยท Posted at 21:36:38 on March 21, 2018 ยท (Permalink)
Doesn't your college charge a extra fee for using your credit card to pay off your tuition? I know mine does which is the only reason I don't use my credit cards to pay my tuition.
SnoWhite_the7Bengals ยท 1 points ยท Posted at 21:52:40 on March 21, 2018 ยท (Permalink)
This would depend on the institution. My institution does not allow credit card payments at all for undergraduate students, but it does for graduate students and there is no additional fee.
vikramjatt11 ยท 1 points ยท Posted at 22:29:09 on March 21, 2018 ยท (Permalink)
It does, they charge a ~2% fee. However, with a $10,000 bill that is only a $200 fee. Much better to pay 2% ($200) than paying 6%+ on a loan or 20%+ on a credit card.
Sometimes it's necessary to pay the fee when you need time to pay. In conclusion, the small fee is not much in terms of your overall invesement into your education.
basement-thug ยท 0 points ยท Posted at 22:54:59 on March 21, 2018 ยท (Permalink)*
I recently got the statement from our homeowners insurance annual renewal. It's the courtesy copy they also sent to the escrow account to be paid. I noticed the rate was about 250 bucks higher than last policy. Called and just asked why. Lady was real nice and says "well the class you were in had a 30% increase this year, but would you look at this, you are able to be in a much better class and surprise, your rate is now less than it was even two years ago"! Went from $850 to $515 with a phone call.
Many people just leave their homeowners on auto pilot since it is auto drafted from escrow. It pays to ask why.
It also makes me wonder, what am I paying my agent for? If all they are doing is passing along the increases, adding profit without doing anything on my behalf, and sitting back cashing checks...... how are they earning my money?
Sk8rToon ยท 0 points ยท Posted at 23:13:59 on March 21, 2018 ยท (Permalink)
But what is it after 12 months? Better or worse?
DallasDonkies ยท 0 points ยท Posted at 23:30:07 on March 21, 2018 ยท (Permalink)
Not to burst your bubble, but I literally did the same thing like a month ago with Discover. Got the same offer. Said ok I have better offers on my desk, they fired back with that offer + a permanent APR decrease going forward, I think they shaved off 1.5%
matt314159 ยท 0 points ยท Posted at 02:09:59 on March 22, 2018 ยท (Permalink)
I had a few things come up and was carrying about a $1300 balance. I called in and got the same 0% offer. What I think is cool is that the minimum payment amount goes to the lower interest balance, but any amount you pay OVER the minimum goes toward the highest interest balance. I was able to jocky my spending by paying every bill and groceries, etc, with the card and then made a few large-ish $300 to $500 payments on the card. This with the goal of turning over the whole balance with new spending and now I've got all my balance (down to $800 now) at 0% for the rest of the year. Now I don't have to stress so much about paying till it hurts, I can take four or five months and not have to pay interest.
Supertech46 ยท 0 points ยท Posted at 02:51:15 on March 22, 2018 ยท (Permalink)
I do it all the time. The worst they can do is tell me is no.
Sometimes when I pay it down in big chunks, they will call me with offers to lower my APR to keep me as a customer.
[deleted] ยท 0 points ยท Posted at 07:06:54 on March 22, 2018 ยท (Permalink)
If you carried a balance I highly doubt you would have gotten that
skyraider_37 ยท 0 points ยท Posted at 11:49:14 on March 22, 2018 ยท (Permalink)
I had a Discover card once when I was really young. I always had a balance on it, but relatively low. The APR was six percent. Then they offered me three percent if I transferred the balance of other cards. I had some school loans on a Chase card at a much higher APR so it was a no brainer. Six months later they increased my APR to 30%. I always paid on time and always higher than the minimum. I was shocked. I asked why and they said because they could. That was the explanation. The refused to lower it. I was forced to sign up with one of those companies that will pay your bill for you and lower the APR. They set me up on a five year plan. I will never own a cc again.
u-n-i-t-y ยท 0 points ยท Posted at 17:30:15 on March 22, 2018 ยท (Permalink)
I got discover and don't carry a balance too. cool beans
A_ducks_nipples ยท -2 points ยท Posted at 22:26:37 on March 21, 2018 ยท (Permalink)
buy a bond that matures in 1 year
free money
the_truth15 ยท -1 points ยท Posted at 22:39:05 on March 21, 2018 ยท (Permalink)
Eh, i just don't spend money i don't have and use credit cards only for raising my credit.
lvav68 ยท 1 points ยท Posted at 22:54:47 on March 21, 2018 ยท (Permalink)
Same here, I limit my card use to what and when I can pay it out of my paycheck, sort if a musical chairs with my money.
kappakeepo1230and4 ยท -1 points ยท Posted at 00:23:09 on March 22, 2018 ยท (Permalink)
remember kids, if youre worried about your cc's apr, youre doing something wrong
_Algernon- ยท -1 points ยท Posted at 01:02:56 on March 22, 2018 ยท (Permalink)
But won't it hurt your credit score if you don't pay your statement before the due date? Carrying over balance will hurt your credit score for sure.
thewizardofash ยท 4 points ยท Posted at 01:05:41 on March 22, 2018 ยท (Permalink)
If you pay the minimum your credit score is fine.
etasyde ยท -2 points ยท Posted at 02:11:46 on March 22, 2018 ยท (Permalink)
Are you sure they didn't close your old account and do a balance transfer to a new card? Because they're incentivised to do just that - it shows up as a new sign up and they are compensated like a salesman.
This can hurt your credit as "age of account" is taken into consideration in many instances.
iWorkoutBefore4am ยท -2 points ยท Posted at 02:25:11 on March 22, 2018 ยท (Permalink)
The real concern here is that youโre not paying your bill in full each month.
Thehuxtablehangover ยท -2 points ยท Posted at 05:51:08 on March 22, 2018 ยท (Permalink)
Why would you get a CC with an Apr anyway?
[deleted] ยท -3 points ยท Posted at 00:41:04 on March 22, 2018 ยท (Permalink)
This seems like a discover commercial. Discover is bad because their cards charge annual fees and they arenโt accepted as many places as Visa.
Also, as it so happens, if you pay your balance every month you donโt have to worry about finance charges. Living within your means is way better.
thewitchof-el ยท 2 points ยท Posted at 00:45:25 on March 22, 2018 ยท (Permalink)
baumbach19 ยท -3 points ยท Posted at 02:13:04 on March 22, 2018 ยท (Permalink)
Itโs odd people see this as financial advice. You agreed to borrow on credit at X rate. So the financial tip is to then ask for it to be lower....
Shouldnโt it be to not use credit cards at all??
BiffJenkins ยท 1 points ยท Posted at 03:09:01 on March 22, 2018 ยท (Permalink)
How do you build credit?
rogersimeon10 ยท -3 points ยท Posted at 02:14:53 on March 22, 2018 ยท (Permalink)
Or you could just not go into debt...
[deleted] ยท -5 points ยท Posted at 02:06:30 on March 22, 2018 ยท (Permalink)
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[deleted] ยท 1 points ยท Posted at 04:39:36 on March 22, 2018 ยท (Permalink)
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[deleted] ยท 1 points ยท Posted at 04:40:55 on March 22, 2018 ยท (Permalink)
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