Credit Cards Center Credit cards from our partners
Reply
Valued Contributor
Posts: 1,524
Registered: ‎08-17-2008
0

Re: Threatening CC company for CLI

I have never done it because they might just say one second please and close the account. 


$100K in Credit
Last Credit Card App: 11/16/13
Regular Contributor
Posts: 158
Registered: ‎03-10-2012
0

Re: Threatening CC company for CLI

True

 

If you are in my position, you honestly would not loose sleep over closing that particular CC, I suppose its not a bad thought. Just be polite. . .

Established Contributor
Posts: 624
Registered: ‎01-04-2009
0

Re: Threatening CC company for CLI


Kutuzov wrote:

I did with Cap1, I call and went directly to the cancelation dpt, I told the rep to cancel and explained my CL was not goot (500) and no rewards, he told me how he could make me a happy customer I told him I wanted rewards and a CLI of at least 1k, they denied so I cancel.


Didn't you try the "Modify Your Features" option?

 

 

 

....  I kid, I kid.

Super Contributor
Posts: 11,228
Registered: ‎04-22-2013
0

Re: Threatening CC company for CLI


Volpes wrote:

True

 

If you are in my position, you honestly would not loose sleep over closing that particular CC, I suppose its not a bad thought. Just be polite. . .


Yes.   I think perhaps "threaten" is the wrong word, more "I've been reviewing my credit cards and the CL/APR/rewards on your card are really.....   Is there a way to fix this as otherwise I can't justify keeping this card open."   (Possibly too weak for US people, my wife thinks my UK background makes me over-polite in these situations!)

 

I've done it over an APR with Citi, and they happily closed my card, Barclays over CL and conversion to World and they closed the card, but has worked with rewards and CL on Capital One (EO) and Citi over an AF.

 

But the basic rule is be prepared for them to close unless you know you are especially valuable to them.  In the Barclays and Citi case I had planned to close anyway, so no great loss.

 

I have also asked to cancel various cards (Chase, Barclays) hoping for a retention offer and getting closed, so the same rule applies there.

Citi: Forward, AA Select Plat, Double Cash, Dividend. Chase: Amazon, Freedom, CSP. Cap One: 2 x QS. Penfed 2x Plat Rewards. US Bank: Cash Plus. Barclays: Arrival, SM. Amex: BC, BCE, ED. Nasa FCU. Ebates, FIA Fidelity Amex, Discover IT Miles.

Senior Contributor
Posts: 9,325
Registered: ‎10-21-2012
0

Re: Threatening CC company for CLI


navigatethis12 wrote:

Depending on how much money they are making off of you, they may not care. If they are only making $100 off of you they won't try to keep you. I know you can argue that you don't spend more because the limit is low, but that won't change their mind. What is the reason for not getting an increase? Whatever the reasons are, fix them and they will give you the increase. Threatening won't cause them to throw their policies out of the window and it may get your account closed before you know it.


+1

 

Any more these days, CC lenders have profitability models available to their fingertip that provides a "walk away" scenario based on your account relationship.  Hence why a variety of lenders will not hesitate to close the account, regardless of "threat".  If you are about building "relationships" and understand how to make them work, then it should be no issue in getting the lender to understand your needs and determine what is feasible.

Contributor
Posts: 82
Registered: ‎03-22-2012
0

Re: Threatening CC company for CLI

I threatened to close my US Bank card when I applied for the Cash+ with >700 score and got the flexperks card instead. Totally worked, they switched the card after it had been open for a month. But I was definitely pissed enough to close the card if they would not switch it.

Amex BCE $20.8k --- US Bank Cash+ $14k --- Cap1 QS $12.5k --- Citi DoubleCash $5.9k --- Target RedCard $300
Senior Contributor
Posts: 9,325
Registered: ‎10-21-2012
0

Re: Threatening CC company for CLI


darkpearl wrote:

I threatened to close my US Bank card when I applied for the Cash+ with >700 score and got the flexperks card instead. Totally worked, they switched the card after it had been open for a month. But I was definitely pissed enough to close the card if they would not switch it.


While that may have worked for you, we're talking about the general consensus.  Some lenders have leeway in specific scenarios and everyone's experience will differ and it really depends whether the consumer is also willing to work with the lender - it's a two way street.

Community Leader
Senior Contributor
Posts: 27,631
Registered: ‎02-07-2013
0

Re: Threatening CC company for CLI

Interesting threadSmiley Surprised

+ Chase ink =




Senior Contributor
Posts: 4,701
Registered: ‎02-23-2011
0

Re: Threatening CC company for CLI

This would work if your tagged as a highl profitable customers, but would otherwise result in an instant account closure.  Never threaten unless you stand prepared to follow through.

 

Nothing more pathetic than "the boy who cried wolf" syndrome.

Senior Contributor
Posts: 9,325
Registered: ‎10-21-2012
0

Re: Threatening CC company for CLI


Open123 wrote:

This would work if your tagged as a highl profitable customers, but would otherwise result in an instant account closure.  Never threaten unless you stand prepared to follow through.

 

Nothing more pathetic than "the boy who cried wolf" syndrome.


+1

 

Exactly.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.