First, I'd like to thank SailorMarz for the tips on lowering my CC interest rate. It works! (well, at least one out of two)I called my Chase CC on Monday, and did exactly what SailorMarz wrote, here's how it went:% "How can I help you today Sir?"$ "I would like to close my account please."% "Let me transfer you to an account specialist."% "How may I help you?"$ "I'd like to close my account please."% "May I ask you why?"$ "I'm not happy with my current APR and I'm doing a balance transfer to a CC with lower APR."% "Could you please wait for a moment while I'll get you my supervisor"% "Hi... my name is ___ I understand that you would like to close your account because you are not happy with your current APR? If I can offer you a better APR would you consider staying with us?"$ " Well that would depend on what the APR would be..."% " May I ask you how much the APR on your other CC?"$ " 2.9% introductory rate and a 9.9% fixed APR afterward..."% " I will give you a fixed interest rate of 9.9% should you decided to stay with us and you can always check every now and then for a balance transfer special that we offer since you are our preferred customer." (laughing nervously every now and then, trying to be polite & friendly I guess)$ " Hmmmm... Could you give me one minute?" (I was ROTFLMAO) "Would that be 'purchase' or 'cash' APR?"% "That would be your purchase APR, unfortunately I can't lower your cash APR by that much... Your cash APR would be 9.5% + 14.9% Sir."$ "What good would that be then?"% " Well, you could transfer your balance to that other CC and once their introductory APR expired as a preffered costumer you will get a 9.9% fix APR when you transfer your balance back to us that way you will save a lot of money. And just as a reminder, always check with us for special on balance transfer."$ "Well O.K. then, I will keep my account for now. How soon will you send me a confirmation?" (I wasn't about to get greedy, after all my APR was 24.49% on purchase and 25.49% on cash)So, that's how it went with my ol' pal Chase. But things went a little different with my CitiBank... It went something like this:% "How can I help you today?"$ "I would like to close my account please."% "Let me transfer you to an account specialist who can help you..."$ (Here we go again...)% "My name is ___ How can I help you?"$ "I would like to close my account please."% "May I ask you why?"$ "I'm not happy with my APR and I am doing a balance transfer to another CC with much better rate."% "I see... We will send you the confirmation and you should receive it within 5 working days."$ (Duh! What went wrong?) "Thank You."Click..Fortunately my wife just got this platinum card that has introductory rate of 2.9% and a fix rate of 14.9%, so, this morning I transfered the balance from my 20.650% CitiBank to my brand spanking new platinum card. I am still ROTFLMAF everytime I remember how things went with CitiBank.CiaoPlasticLeo
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