No. of Recommendations: 0
I just did the renegotiate-with-MBNA thing. Got my rate reduced from 17.9% to 14.9%, they increased by credit line from $8500 to $10000 and offered me a balance xfer at 1.7% until June 2002. I haven't taken the increased credit line nor the balance xfer yet, since I'm evaluating which balance to xfer and if I want to xfer at all to begin with. But, hey... they were VERY willing to work with me. And, they didn't even need to put an inquiry on my credit report.

I called the Rates Department - you can ask for it when you contact the regular cust svc. The rep examined my payment history (said, "Oh, I see you always make more than the minimum - you just had a few really big payments." Damn straight... I'm trying to pay this sucker off!) So, they definitely take that into account. He also said, "Ah I see that you use your card quite a bit, too." And I do. I just debit whatever I charge from my checking account (usually about $100/month) and send that, along with my snowball payment each month. Sounds weird, but if the companies suspect you've cut them off cold turkey, I'm willing to bet they won't be as quick to offer you that lower rate!

I say, just give 'em a call. The worst they can do is tell you "no," like the lovely Citibank did. That's why they just became priority #1 on my snowball list! Woohoo!

Good luck!
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