Credit Card Companies, Please Pimp My Life!

By dragging all this credit card debt around, in effect, this is really what I'm saying to the credit card companies. So here's what helped motivate me to get my CC debt paid down. Without overloading you with too much info at once, I have always had some CC debt. Anyway, I'm pretty OCD when it comes to paying on time. (the reason why is a long story) So right now, I have decent credit. I am not in the 800 range... yet. But I'm not a deadbeat by any stretch. Anyway, so I've been carrying some balances for over a year. I had some balance transfer rates that were really low that would last until the balance was paid off (or so I thought). I recently got a statement from Citibank to whom which I owe about $6300, that indicated that my low rate of 2.9% was increased to 17.24%.

I was HOT when I saw this! There was no disclosure or letter, nothing. I found it by reading my statement this month. So I called to find out why I was being punished. I knew that I hadn't been late or violated any agreements with any company including Citibank.

Their reply was that my rate had expired. That was some sneaky BS and they know it! But I'm at their mercy for the moment. I really don't want to open another CC to transfer right now and I don't want more CCs. So I told the rep that unfortunately the new rate would not work for me and I would be forced to change companies, so what could she do to help me?

A measly 1% reduction? She tried to sell it like I was getting a deal. Hello? Oh no, that would not work either! I need to talk to a supervisor or something (I worked in and around CS for 12 years, and know the drill). She transfers me to the retention group or whatever. Now I am offended. I've been with Citibank for over 7 years without any late payments etc. and they are jerking me around.

The retention rep reminds me of my long history with Citibank and asks what he can do to help. I tell him the same story... I will take my business elsewhere unless they do something to lower my rate. Mind you, I was not rude to any of these aforementioned Citibank reps, because that will get you nowhere fast. However, I was not taking no for an answer. I did have offers for 0% but I didn't really want to take them.

Finally, this rep was willing to deal. I got 1.9% for 9 months on all balances and 9.99% thereafter on all purchases and balances. Not bad, but definitely has me motivated to fire Citibank or limit my business with them going forward.

I shouldn't carry a balance, I know. But the card had a low rate that they snatched away without any notice. It won't be happening again, I can tell you that. I'm done being pimped by my CC companies.