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| SAVE MONEY when closing your credit card
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I can't believe how many times I've wanted to face plant someone into the floor when I hear them say they want to close their credi card account and still have a balance owing.
For those people who can pay the balance off in full every month, this doesn't apply to them.
But for those of us who can barely make by and can only afford to make the minimun payments need to listen up!
Most people close their accounts for personal reasons. I hate this. They want to show their Credit Card company how upset they by closing their account when the telephone agents on the telephone cannot waive a membership or a pass due fee, etc etc.. These people think with their hearts and not their head and need to listen learn that anger will get them nowhere but broke.
First of all, the more angry you are on the telephone, the less the agent is going to feel empathetic with you, because they will start seeing it as a personal attack on them. I know because I'm one of those people. Even if I see an offer for the client if they are yelling into the phone, I will either give them a lesser offer or none at all.
And of course, sometimes I am unable to make an offer at all because the computer does not have one for me. Do not get angry with the agent for her or him having no offers. They just work there. They don't make the policies.
Now.. into the saving money part.
If you close your account with a high interest rate, you are going to have a hard time paying that off. That interest rate will be locked in there and can even be RAISED if LIBOR or PRIME is raised. Because your account is closed, you cannot call back in a few months time to ask if the agent can lower it because your account is in closing status, there for non retatinable, there for their will be NO offers for you.
If you wait and keep paying your bills on time and make sure they are not over the limit and are paying the minimun amount, you may eventually have an offer for you when you call back. Of course, you are still planning on closing the account but are doing it the smart way-waiting for the account to reach zero before putting it in closing status.
So you see what I mean? Either lock yourself in with a high interest rate and NO possibility of it being lowered, or keep the account open until it reaches zero because thats the only time it will offically close anyways, and call back periodically to see if there are any offers avaliable.
Makes sense, doesn't it?
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Posted by Jeshikan on 2008-02-07 02:23:51 | Rating: | Views: 42
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