spec411--nice posts. I would say you have a bit more experience than I do. It sounds like you have really found how to work them to your advantage. Kudos. This can be done if you also have other investments. Yes, the cc buildup can get a bit scary, but, if you are using the money correctly, it can work for you. You can pay 9.9% and "virtually" use it to earn 12 ro 14%, or better. It is definitely not recommended for the faint of heart. But, it can be done.
Do you know of a cc discussion board? Maybe start an off topic RE: Credit Cards are out friends?
Jaybird--you may be in luck. This is specifically what put the FTC on their tail (someone correct me if I've got the wrong FED). If you have a decent payment history, you might try just giving them a call.
--just ask them nicely if they will waive the fees
--ask them to drop the interest rate back.
If they answer no to either, mention that a friend has a video that details the less than ethical methods First USA has used in the past, and you would like to escalate this. Someone help me here. Was it on 20/20?
I've never had a cc refuse to waive a late pay charge. But, I might only be late once every 2 years. Too much Anandtech, too little time.
If you have decent payment history, there is no way you should be paying more than 10% interest. What has worked for me: Call and tell them you have been very happy with their service, but regrettably, you can't stay with them because their rates are not competitive. "How do I go about closing the account?" You will probably be asked to speak to a Customer Retention Rep. Just mention 2 or 3 cards that you have that only charge you 9.9%---this is not a promo rate. From memory....Capital One, First USA, MBNA.
Anyone have any experience "fighting" a cc? Briefly, I had $75 balance I forgot about for two months. Tried to close out the account. Was told it had been "reported". My point--if they will not remove the negative (which, YES, they can do), they will have to come after me for it, and yes, I can insert a 100 word comment in my report. I just want written assurance that the neg will be removed before I pay.
--Randy