Ask, and ye shall receive!

[bhskittykatt]

Hubby noticed that his credit card limit had magically increased by $1000. Concerned that someone had stolen his info and was looking to go for a shopping spree, he called their customer service.

It was a bit amusing listening to him. "Main menu...more options...main menu...more options..." He couldn't find what he was looking for, and was getting more and more frustrated.

Finally after about five minutes, he started yelling at the automated phone message. "How about talking to a d*** person?!?!?!?"

It's funny, 'cause it actually worked! The system then asked if he wanted to be connected to a representative, and he said yes. He was connected to a person and got it resolved. (He was able to be polite with the representative, though I could tell he was still stressed out.) He went through all that hassle, when he just had to ask for a person...

I will have to keep that in mind next time I'm stuck in a phone menu maze. Just ask.


Turns out it was a "good customer reward". He doesn't want it, since he sucks at money management and doesn't trust himself with a higher limit. Now I'm feeling unappreciated, since I've been their customer longer and have always paid my bill on time (Hubs hasn't), so where's my reward? I don't really want or need a higher credit limit, but if Hubs gets "rewarded", then why don't I? I guess "good customer" means "customer that they suck more money from in interest and penalties", which would be Hubs and not me.

[EvilEmpryss]

"Good customer" is in the eye of the credit holder.

As you noted, a "good customer" to a credit card company is one who racks up overcharge penalties and carries a high balance, not one who pays over the minimum on time every month (especially if they carry a low balance or no balance at all). You aren't making them as much money as your hubby is, so he's a better customer than you are. It's in their best interest to increase his credit limit as high as he'll let them, since he's shown he'll use it.

Rude to you, bad for hubby, good for the credit card company.

[Sapphire Silk]

I'm afraid EE is right: in the eyes of a credit card company, you're a "deadbeat" if you pay your balance in full every month because then the company doesn't make any money off of you.

They actually LIKE to give credit to people in bankruptcy because they know the creditor can't walk away from them a second time.

[Heksubah]

I used to work for a credit card company. Sadly, if a person called in and had a card for 10 years and was never late, paid balance in full every month, never had interest and was late once... the system would tell us not to waive a late fee due to profitability. If there is no interest, we make no money for the services so it would cost to wave the fee.

It sounds wrong, but that's how it is with credit card companies. Now, you don't necessarily have to be late or over the limit for them to think of you as a good customer (ie; profitable), but not always paying the balance in full makes them money on the interest and you aren't late so that makes them happy there too.

Credit card companies are such odd beasties.

[MoonCat]

I read something a few years ago in which a person claimed that by using the f-word on those annoying, long, automated phone menus, you could get the system to connect you to a live body. Apparently some systems are programmed to react that way if they hear certain swear words. The person who wrote the article said they heard it from someone else, so they tried it, and it worked.

I've never tried this, but I've been sorely tempted numerous times.

[EvilEmpryss]

I don't like saying anything on the telephone that may be recorded by the company and used against me at a later date, so I try not to swear. Honest.

I've found that, for the most part, punching zero repeatedly will eventually get you to a live person. That, or when they do the whole "if you're dialing from a touch tone phone, press 1" thing, wait until the computer thinks you're calling from a dial phone. It doesn't always work, though: I've encountered systems that will then switch you over to a verbal system, but then constantly saying "agent" usually gets you through.

[bainsidhe]

This question is just for my own curiosity, but I thought credit card companies earned profits from the processing fees charged with each transaction. Wouldn't this mean that heavy users were profitable for the card companies, even if they paid their balance in full each month?

[EvilEmpryss]

IIRC, the interchange fee is something around 2% (my info is dated, though). Have you seen the APRs on someone with bad credit's cards? Let's just say you can start at 16% and go up from there. I knew one person who had a 26% interest rate and something like a $25,000 credit line.

All that heavy users that pay in full do for the company is provide extra revenue to cover the people who get in over their heads and then file for bankruptcy.

[Sapphire Silk]

This question is just for my own curiosity, but I thought credit card companies earned profits from the processing fees charged with each transaction. Wouldn't this mean that heavy users were profitable for the card companies, even if they paid their balance in full each month?

They do . . . but the transaction fees are charged to the MERCHANTS not the customers. Debit cards charge merchants the same fees now, as well (didn't used to, which is why when gas prices went up a couple of years ago, a lot of gas station owners begged customers to pay with debit or cash). Rates for both debit cards and credit cards are up to 4% IIRC.

The vast majority of credit cards are owned by just 12 banks. Until the financial reform bill passed last summer, they had wide latitude to impose interest rate hikes (up to 36% for many people, for some even higher), they charge fees to merchants, they're charging annual fees, "inactivity fees", late fees, ad nauseum. They make money hand over fist.

People who make minimum payments are essentially paying double the price for everything due to the wonders of compounded interest.

[Mishi]

If the automated menu is difficult or doesn't have the option I need and/or the voice recognition software isn't registering what I'm saying correctly, then I've found that saying either "Operator, please." or "Customer Representative, please" gets me through to a live person. It sounds odd to be polite to a machine, but if the call is being recorded I'd rather be caught sounding strange than rude.

I keep being offered credit-cards, personal loans and home loans despite being a stay-at-home mum with no real income. I just figure that it's what the bank staff have to offer as a part of their jobs.

[EvilEmpryss]

The most annoying credit offers I get are blazened boldly with "Special Offer for Just for Veterans"... and they're addressed to the Evil Overlord, who is not a veteran. If they can't even be bothered to get the identity of the veteran correct, I'm not trusting their ability to handle my finances correctly.

[Aethian]

It's been destroyed now but Tech Angel can attest I sent her a picture of a offer for 59.9%apr.

[laborcat]

It's been destroyed now but Tech Angel can attest I sent her a picture of a offer for 59.9%apr.

OMG you have GOT to be kidding me.

[bainsidhe]

It's been destroyed now but Tech Angel can attest I sent her a picture of a offer for 59.9%apr.

Whatta deal, I'm surprised you didn't swoon. Me, I'm getting tired of receiving those "convenience" checks from Chase. I thought I opted out of those stupid things *sigh*

[HappyFun Ball]

I take all of my frustration out on the automated CSR's.. I like to scream "Get me a f#$%ing human being" at them.