Credit Cards

[ndusa]

Use this letter if you like, it worked in my case:

CREDIT CARD COMPANY
1234 MAIN STREET
ANYTOWN, STATE 99999


January 1, 2006

Reference Credit Card # 123-456-789-0000

Dear Folks,

I am writing to request a significant reduction in the interest rate which you charge me each month on my credit card. The banks that issue credit cards are now in a price war and it is to my best advantage to switch companies or obtain an equal low interest rate from you.

Capital One, advertises heavily on television and I have seen the Capital One's ads which ask, "What's in your wallet?" It is a great slogan that is working on me and I am thinking of switching to their company. I am considering the consolidation of my credit card debts with a Capital One card.

Capital One claims to offer the lowest fixed rate, now under 6%. This is far better than the 17% or 24% that I am currently paying to you and would save me a considerable amount of money each month. I know that you are profiting at my expense, but I cannot in clear conscience continue to overpay for your limited services.

I would like a new written contract from you with a permanent lower fixed rate for all of my existing debt on the credit card you issued to me. The longer I have to repay at the new lower rate, the better your offer will be.

While the rates are low, I want to negotiate a better deal. As I see it you have a new option - you can either get 0% from me after I switch to a Capital One card and pay off my debt to you, or you can offer me a permanent reduction on the interest rate to match or better the 6% I can get from them. I believe that you would rather retain me as a customer and receive something instead of nothing and therefore will offer me a much better rate. In the meantime, I will keep shopping on the Internet for low fixed-rate cards that offer loan consolidation for my existing debt. I have just recently discovered that many banks have these low rate ads all over Google.com.

Please lower the permanent interest rate on my credit card with you and send me your best new contract rate offer confirmation in the mail. If I do not hear from you I will conclude that you are no longer interested in keeping me as a customer and I will switch to one of your competitors.

Sincerely,


________________
My Name
678 My Street
My Town, MY 09876

[dashboy]

I don't mean to be sarcastic or sound insulting, but why not do the smart thing by cutting the card up and use silver coin? Or at the worst FRN's! Credit cards usage is pure stupidity!

A house divided is a house no longer standing!

dashboy~