Comments on: Daily Financial Challenge - Day 1 http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/ Bridging the gap between saving money and investing Mon, 01 Dec 2008 21:37:40 +0000 http://wordpress.org/?v=2.6.1 By: Mapgirl’s Fiscal Challenge / Daily Financial Challenges http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-22122 Mapgirl’s Fiscal Challenge / Daily Financial Challenges Thu, 22 Feb 2007 03:18:56 +0000 http://www.pfadvice.com/?p=343#comment-22122 [...] Day 1: Get a better interest rate just by asking [...] [...] Day 1: Get a better interest rate just by asking [...]

]]> By: Wealth Today » Lower rate on CapitalOne Credit Card http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-603 Wealth Today » Lower rate on CapitalOne Credit Card Mon, 23 Jan 2006 21:37:14 +0000 http://www.pfadvice.com/?p=343#comment-603 [...] I took the Daily Financial Challenge #1 and I got a lower rate on my CapitalOne credit card, with much success. It was easy. I simply asked. My interest rate has gone from %16.9 to %12.9. There was some hold time, but it was definitely worth it. [...] [...] I took the Daily Financial Challenge #1 and I got a lower rate on my CapitalOne credit card, with much success. It was easy. I simply asked. My interest rate has gone from %16.9 to %12.9. There was some hold time, but it was definitely worth it. [...]

]]> By: Joshua K http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-553 Joshua K Fri, 20 Jan 2006 18:43:35 +0000 http://www.pfadvice.com/?p=343#comment-553 The yearly fee can also be anther negotiating point. I wanted the yearly fee prevented or lowered on my HSBC. At $60/yr, it was twice what two of my other cards were. They offered to lower my interest rate, but with a $0 balance, that didn't help me much. I accepted that and pressed on the yearly fee. They said to call back after I receive the charge for the yearly fee and they would remove it in order to prevent me from cancelling it. They explained they couldn't credit something that hadn't been charged. I called back afterwards, and they acted like I was never told that. They offered half of it, and I told them they should reconsider. I explained I had my car loan with them too. Still no budging, so since they weren't willing to honor what they previously told me, I had them refund the full amount of the yearly fee, to cancel it and advised them I'd never do business with them again. They did. I still haven't switched my car loan, but it costs fees for for the switch, so it probably works out for me. My next car loan won't be with them though. The yearly fee can also be anther negotiating point. I wanted the yearly fee prevented or lowered on my HSBC. At $60/yr, it was twice what two of my other cards were. They offered to lower my interest rate, but with a $0 balance, that didn’t help me much. I accepted that and pressed on the yearly fee. They said to call back after I receive the charge for the yearly fee and they would remove it in order to prevent me from cancelling it. They explained they couldn’t credit something that hadn’t been charged. I called back afterwards, and they acted like I was never told that. They offered half of it, and I told them they should reconsider. I explained I had my car loan with them too. Still no budging, so since they weren’t willing to honor what they previously told me, I had them refund the full amount of the yearly fee, to cancel it and advised them I’d never do business with them again. They did. I still haven’t switched my car loan, but it costs fees for for the switch, so it probably works out for me. My next car loan won’t be with them though.

]]> By: fivecentnickel.com http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-549 fivecentnickel.com Fri, 20 Jan 2006 14:58:55 +0000 http://www.pfadvice.com/?p=343#comment-549 <strong>Weekly Roundup - 01/20/06</strong> ItÂ’s time again for the weekly roundup. So, without further ado, here are some of the best personal finance blog entries that I ran across in the past week. Weekly Roundup - 01/20/06

ItÂ’s time again for the weekly roundup. So, without further ado, here are some of the best personal finance blog entries that I ran across in the past week.

]]> By: Gloria http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-542 Gloria Thu, 19 Jan 2006 23:25:48 +0000 http://www.pfadvice.com/?p=343#comment-542 iIve done this in the past. It does help. Discover card usually helps me out but Capitol One usually turns me down. I don't like Capitol Ones customer service either. They are terrible. I plan to try this again this week and see what happens. iIve done this in the past. It does help. Discover card usually helps me out but Capitol One usually turns me down. I don’t like Capitol Ones customer service either. They are terrible. I plan to try this again this week and see what happens.

]]> By: Frugal Momma http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-533 Frugal Momma Thu, 19 Jan 2006 15:23:03 +0000 http://www.pfadvice.com/?p=343#comment-533 Jeffrey Glad to see the challenge back Theresa :) Jeffrey
Glad to see the challenge back

Theresa :)

]]> By: Dee http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-531 Dee Thu, 19 Jan 2006 14:56:15 +0000 http://www.pfadvice.com/?p=343#comment-531 I pay my credit card off every month, therefore no finance charge. I charge everything I can to Discover and my bank pays that bill for me each month. Is there a credit card better than any other for this kind of spending? I pay my credit card off every month, therefore no finance charge. I charge everything I can to Discover and my bank pays that bill for me each month. Is there a credit card better than any other for this kind of spending?

]]> By: pfadvice http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-523 pfadvice Wed, 18 Jan 2006 16:54:10 +0000 http://www.pfadvice.com/?p=343#comment-523 <i><b>"So I also have already asked for lower rates just last week, didn’t get too far, Discover said to call again. Other one just said nothing available at this time. So I plan to keep trying, we’ve never been late or missed a payment, the balance is pretty high so I’m sure that's why."</i></b> I will be sending out reminders in the series to call to try and lower rates on a regular basis. It definitely pays to call again as a different customer service rep can be more helpful. <i><b>!Also, we do get those 0% transfers but is it good to keep trying to get those when you have debt, and they give it to you with a 500.00 limit and that won’t pay off any of the larger cards. Then we’ll have even more credit out there and it will look like we’re just applying for cards all over the place?? Help"</i></b> There are a lot of traps you need to be very careful of when doing transfers which I will be writing about much later in the series. If you're looking for a quicker answer, place <a href="http://www.savingadvice.com/forums/index.php" rel="nofollow">this questions in the forums</a> and I'm sure that many of the members will give you a lot of opinions and issues to look out for. “So I also have already asked for lower rates just last week, didn’t get too far, Discover said to call again. Other one just said nothing available at this time. So I plan to keep trying, we’ve never been late or missed a payment, the balance is pretty high so I’m sure that’s why.”

I will be sending out reminders in the series to call to try and lower rates on a regular basis. It definitely pays to call again as a different customer service rep can be more helpful.

!Also, we do get those 0% transfers but is it good to keep trying to get those when you have debt, and they give it to you with a 500.00 limit and that won’t pay off any of the larger cards. Then we’ll have even more credit out there and it will look like we’re just applying for cards all over the place?? Help”

There are a lot of traps you need to be very careful of when doing transfers which I will be writing about much later in the series. If you’re looking for a quicker answer, place this questions in the forums and I’m sure that many of the members will give you a lot of opinions and issues to look out for.

]]> By: Bren http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-519 Bren Wed, 18 Jan 2006 13:40:49 +0000 http://www.pfadvice.com/?p=343#comment-519 So I also have already asked for lower rates just last week, didn't get too far, Discover said to call again. Other one just said nothing avaiable at this time. So I plan to keep trying, we've never been late or missed a payment, the balance is pretty high so I'm sure thats why. Also, we do get those 0% transfers but is it good to keep trying to get those when you have debt, and they give it to you with a 500.00 limit and that won't pay off any of the larger cards. Then we'll have even more credit out there and it will look like we're just applying for cards all over the place?? Help So I also have already asked for lower rates just last week, didn’t get too far, Discover said to call again. Other one just said nothing avaiable at this time. So I plan to keep trying, we’ve never been late or missed a payment, the balance is pretty high so I’m sure thats why. Also, we do get those 0% transfers but is it good to keep trying to get those when you have debt, and they give it to you with a 500.00 limit and that won’t pay off any of the larger cards. Then we’ll have even more credit out there and it will look like we’re just applying for cards all over the place?? Help

]]> By: pfadvice http://www.pfadvice.com/2006/01/16/daily-financial-challenge-day-1/#comment-515 pfadvice Wed, 18 Jan 2006 09:06:17 +0000 http://www.pfadvice.com/?p=343#comment-515 <i>"Is there something that I can say when talking that will make it more likely that I can get the rate reduced?"</i> There are a couple of things that you can do. 1. Have a competing offer in hand. If you don't currently have one, keep an eye out for one you can use in the future. 2. If the first person you talk with isn't being cooperative, ask to speak with a manager. Managers often have more flexibility in reducing interest rates. 3. If it is a situation where if you can't get your interest rates lowered, you may default on the payments, be honest and explain that is the case. Be sure to mention that those who are willing to help will get first priority when you make payments. 4. Don't bother getting upset if they aren't being helpful. If they aren't being helpful, it is likely it is corporate policy and not the individual's fault. 5. Don't threaten to leave unless you are truly ready to do so. It's much better to approach it as a "you are considering other offers" than to make threats. Hope this helps a bit. “Is there something that I can say when talking that will make it more likely that I can get the rate reduced?”

There are a couple of things that you can do.

1. Have a competing offer in hand. If you don’t currently have one, keep an eye out for one you can use in the future.

2. If the first person you talk with isn’t being cooperative, ask to speak with a manager. Managers often have more flexibility in reducing interest rates.

3. If it is a situation where if you can’t get your interest rates lowered, you may default on the payments, be honest and explain that is the case. Be sure to mention that those who are willing to help will get first priority when you make payments.

4. Don’t bother getting upset if they aren’t being helpful. If they aren’t being helpful, it is likely it is corporate policy and not the individual’s fault.

5. Don’t threaten to leave unless you are truly ready to do so. It’s much better to approach it as a “you are considering other offers” than to make threats.

Hope this helps a bit.

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