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Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: How did you negotiate when your CCC changed your terms?


JimB wrote:

creditwherecreditisdue wrote:
That is not negotiation. That is acquiescence.
Perhaps so, but why on earth would anyone carry a balance on a credit card today? The last time that I did was early in the first Reagan Administration, when it almost made sense to do so. Banks were paying almost as much interest on 6-month CDs as they were charging on CCs. (At one point in the spring of 1981, 3-month Treasury bills, arguably the safest & most liquid investment on the planet, were yielding 16%.) And back then, CC interest was tax-deductible. (The 1986 amendments to the Internal Revenue Code did away with that.)
But now that the spread between what banks pay on CDs & what they charge to those who carry balances on their cards is at an all-time high (or awfully close to it), failing to PIF has never made less sense. My sincere apologies to anyone who finds my remarks judgmental, but I simply can't fathom why anyone would carry a balance in today's economic climate.

 


Great point - for another topic!

Frequent Contributor
Karatz
Posts: 318
Registered: ‎09-25-2008
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Re: How did you negotiate when your CCC changed your terms?


marinevietvet wrote:

creditwherecreditisdue wrote:
That is not negotiation. That is acquiescence.

 

Negotiation: mutual discussion and arrangement of the terms of a transaction or agreement.

 

We did negotiate (in a sense). The companies said they were raising my rates. I said future transactions will exclude any payment of interest.The arrangement definitely came out in my favor. IMO.

 

7/09 (myfico)
TU-742
EQ-779

 


Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".


Amen sister. Negotiations definately, but I think they were tilted a bit more in your favor LOL

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009
Frequent Contributor
Karatz
Posts: 318
Registered: ‎09-25-2008
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Re: How did you negotiate when your CCC changed your terms?


haulingthescoreup wrote:

creditwherecreditisdue wrote:

I prefer engagement - and I have gotten two APR decreases that way this year. You will never get what you don't ask for. I don't care much for the passive approach.

Understood. But just as I avoid doing business with irrational individuals, as I can't spin the conversation to get what I want, I also avoid doing business with irrational lending institutions. I don't know what their motives are, and I don't understand the effects of pushing their buttons, so I'd rather sit back and take notes while others fling themselves on the spiked barricades.

To me, this is not being passive. This is being analytical and a bit wary.

DH is a professional pilot, and one of the many (many, many, many, many) corny sayings that they love to kick around is "There are old pilots, and there are bold pilots, but there are very, very few old, bold pilots."

Full kudos to those who choose to engage the battle. I like to sit high up in my tree and take notes. :smileywink:

Definately. I don't wanna act to hastely or rashly. Kinda like the nuclear arms race, except we both have cancel buttons, I just make sure I'm ok with them pushing their's before I threaton to push mine. 

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009
Frequent Contributor
Karatz
Posts: 318
Registered: ‎09-25-2008
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Re: How did you negotiate when your CCC changed your terms?


JimB wrote:

creditwherecreditisdue wrote:
That is not negotiation. That is acquiescence.
Perhaps so, but why on earth would anyone carry a balance on a credit card today? The last time that I did was early in the first Reagan Administration, when it almost made sense to do so. Banks were paying almost as much interest on 6-month CDs as they were charging on CCs. (At one point in the spring of 1981, 3-month Treasury bills, arguably the safest & most liquid investment on the planet, were yielding 16%.) And back then, CC interest was tax-deductible. (The 1986 amendments to the Internal Revenue Code did away with that.)
But now that the spread between what banks pay on CDs & what they charge to those who carry balances on their cards is at an all-time high (or awfully close to it), failing to PIF has never made less sense. My sincere apologies to anyone who finds my remarks judgmental, but I simply can't fathom why anyone would carry a balance in today's economic climate.

 


Ya I remember that. I recently wrote a check for $9000 back at the beginning of April of which I put $5000 into an IRA which saved me X in federal and state taxes. The interest for the life of the loan is 5.9% and it is deductible as investment interest. Only for specific purchases can the CC interest be deducted though, and the IRS does watch that pretty close I read. 

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: How did you negotiate when your CCC changed your terms?

[ Edited ]

Karatz wrote:

haulingthescoreup wrote:

creditwherecreditisdue wrote:

I prefer engagement - and I have gotten two APR decreases that way this year. You will never get what you don't ask for. I don't care much for the passive approach.

Understood. But just as I avoid doing business with irrational individuals, as I can't spin the conversation to get what I want, I also avoid doing business with irrational lending institutions. I don't know what their motives are, and I don't understand the effects of pushing their buttons, so I'd rather sit back and take notes while others fling themselves on the spiked barricades.

To me, this is not being passive. This is being analytical and a bit wary.

DH is a professional pilot, and one of the many (many, many, many, many) corny sayings that they love to kick around is "There are old pilots, and there are bold pilots, but there are very, very few old, bold pilots."

Full kudos to those who choose to engage the battle. I like to sit high up in my tree and take notes. :smileywink:

Definately. I don't wanna act to hastely or rashly. Kinda like the nuclear arms race, except we both have cancel buttons, I just make sure I'm ok with them pushing their's before I threaton to push mine


Q: How did you negotiate when your CCC changed your terms?

 

A: Don't ever do the above. I have never done this. It is counterproductive and pointless.

Message Edited by creditwherecreditisdue on 08-08-2009 04:34 AM
Frequent Contributor
Karatz
Posts: 318
Registered: ‎09-25-2008
0

Re: How did you negotiate when your CCC changed your terms?


creditwherecreditisdue wrote:

Karatz wrote:

haulingthescoreup wrote:

creditwherecreditisdue wrote:

I prefer engagement - and I have gotten two APR decreases that way this year. You will never get what you don't ask for. I don't care much for the passive approach.

Understood. But just as I avoid doing business with irrational individuals, as I can't spin the conversation to get what I want, I also avoid doing business with irrational lending institutions. I don't know what their motives are, and I don't understand the effects of pushing their buttons, so I'd rather sit back and take notes while others fling themselves on the spiked barricades.

To me, this is not being passive. This is being analytical and a bit wary.

DH is a professional pilot, and one of the many (many, many, many, many) corny sayings that they love to kick around is "There are old pilots, and there are bold pilots, but there are very, very few old, bold pilots."

Full kudos to those who choose to engage the battle. I like to sit high up in my tree and take notes. :smileywink:

Definately. I don't wanna act to hastely or rashly. Kinda like the nuclear arms race, except we both have cancel buttons, I just make sure I'm ok with them pushing their's before I threaton to push mine


Q: How did you negotiate when your CCC changed your terms?

 

A: Don't ever do the above. I have never done this. It is counterproductive and pointless.

Message Edited by creditwherecreditisdue on 08-08-2009 04:34 AM

Agreed. I'm a strong believer in the quiet speeder gets the shortest written notes by the police officer. I only recently found out that they have access to your past, including how many times you have been found "not guilty", which in my case any sane officer would write up a good long thorough report, LOL. I do agree however, don't give the CC specialist any reason to write anything in your note file as that can be read by the next person you call. Act like it's no big deal and you just wanted to see if you could arrange something...You might get 20 calls in before someone notices you're draining their manpower.

 

 

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
0

Re: How did you negotiate when your CCC changed your terms?

creditwherecreditisdue wrote:

I prefer engagement - and I have gotten two APR decreases that way this year. You will never get what you don't ask for. I don't care much for the passive approach.

 

 

I don't care what my APR is. I don't pay interest on any rate whether it's 5% or 35%. I got exactly what I wanted without asking or demanding. This is an active (not passive) decision on my part. Why bother making multiple phone calls (and getting my blood pressure up) when my finance charge will always be 0 with my personal approach?

 

It's apples and oranges. We all have to decide what we think works best for us.

 

7/09 (myfico)
TU-742
EQ-779

 

Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".

Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
0

Re: How did you negotiate when your CCC changed your terms?

Amen sister.

 

 

I guess the name is confusing but I am a gentleman (most of the time). LOL

 

You had no way of knowing.

Super Contributor
marty56
Posts: 5,679
Registered: ‎10-06-2007
0

Re: How did you negotiate when your CCC changed your terms?

I did my time in interest hell and refuse to pay CC interest again unless I have no choice.  All CCCs can do in this case is either lower my CL (I dont care about that either) or charge an AF.

 

I dont negotiate, I terminate via Plasectomy.

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