here is the situation:

i have a visa via bank one with a 10.99% interest rate.

i got an offer for a bank one platinum visa today with a 7.99% interest rate.


would it be unrealistic of me to request the 7.99% interest rate be applied on my existing account, instead of having to accept another one?

I don't think so, especially at a lower interest rate, and if they give you problems, close the higher one and open another account under the lower interest rate. Have to save money, because BF is coming and you know what that means...........Chargeeeeeeeeee :2dollar:

No, I was able to call CitiBank and get my rate lowered by just asking.

It wasn't lowered that much just 3% but all I had to do was ask.

I got discount 12.9% to 10.15% on Capitalone Platinium.

It's not an unrealistic thing to ask of them at all, the worst they can say is no... Understand that closing the account and reopening a new one may not help you as a lot of those deals have something in the fine print about not offering the cards to an existing customer. They do that to stop the processing costs associated with giving an existing customer a discount that they're not willing to fight for.

Your best option would be to have a comparable offer available to you from an entirely different provider. Then you can call and ask for a better deal with the ability to tell them you're going to leave them for someone else if they don't give it to you - and *mean* it.

steveh has a good point.

Also threaten to close your account because you found a better rate elsewhere, usually they'll transfer you to their "retention department". Their whole purpose is to retain customer accounts, keep them open instead of closing them. So usually by now you have some leverage.

I've called twice, apparently their "rate advisors" department is offline now, due to some kind of upgrade/maintenance (maybe due to some work on the JP Morgan Chase/Bank One merger?) It won't be back until the weekend.

I've gotten positive responses from both the CSR's I've talked to, although they obviously have no power to do anything in this situation.

I'm thinking of just accepting the new card, so I can take advantage of the "0% interest till January 2006" offer to keep my balances on my CC's down. I'm carrying about $2000 against about $8000 total credit for my 2 main cards, the Visa and Amex Blue.

We once asked our credit card company to give us a lower interest and they came back with a "no" at first then I told them that if that was the case then please close our account . Just give me the payoff amount and we'll be done then. Of course they put me on hold to "talk to a supervisor" and came back with a great rate! Go figure! :clapping:

UPDATE TIME!:

I had called Bank One a week ago, and they refused to lower my interest, because it is a Cash Rewards card, with a variable interest rate. However, today in the mail, I received 2 offers from Citibank. A 5% cashback dividend platinum mastercard with 9.99%, and a platinum select mastercard with 8.99%. both beat my current bankone card, which is at 10.99% and rising due to rising interest rates. I am thinking of accepting both, and then canceling my bankone card. opinions?

Are those regular purchase rates?
Or balance transfer rates?
When do they expire?
If balance transfer, are there any BT fees?

Are those regular purchase rates?
Or balance transfer rates?
When do they expire?
If balance transfer, are there any BT fees?

those are both the regular fixed rates. the cashback card has free balance transfers with 0% till Nov 05. the platinum select has free balance transfers and 0% till Feb. 06. No fees for initial BT's for either card. The only downside I see is that I would have a min. finance charge of .50, where as now i have no min finance charge.