Asking for a lower rate...

[Anonymous]

Ok, I have a Platinum MC with USAA, about a year ago I noticed that each month it kept creeping upwards and upwards. Finally I got tired of it and called them on it. Now, I've NEVER had a late payment, have ALWAYS paid more than what is due and they kept raising it, I believe at one point it was upwards of 11.25%. So I called them and got them to agree to lower it to 8.25%+prime. This has helped, however with the lowering of the rates, would it be in my best interest to ask for another lowering of my rate? Of course I have the same situation, NEVER late, ALWAYS pay more than is due, this is one card I do charge up and down because I get cash back on it and right now I'm 56% util on it, but I'm paying it down.

Thanks!

Peggy

[Anonymous]

Get your utilization down and then ask.  most CU cards are variable.  56% uti is enough to make any issuer nervous.  Keep tabs on yor limit and your balanc and never let it get above 50%, try and eep it below 30.

[Anonymous]

Wishes and wants...never wanted it to get this high, but was doing some home renovations...don't get me started on that, LOL! But, honestly, what's the worst USAA can tell me, no? I guess the better question would be, I don't see where they hit me on the request to lower it before, so I shouldn't see anything if I request it again...yes/no?

[Anonymous]

5.5%!!! Guess it doesn't hurt to ask. The lady told me, "No, I'm sorry, that's the lowest we can go (8.25% is what I had). I asked to speak to her supervisor, amazingly enough she was able to get an underwriter on the phone that approved the 5.5%. I'm verklempt...

[haulingthescoreup]

In my experience, USAA is both conservative and generous. They want to see your usage down a bunch below where it is now, but once it is, they will lower their rate. They are not interested in seeing their customers drown in debt.

edit: just saw your response: congratulations! you have a better rate than I. But still, I would pay them down.

Message Edited by haulingthescoreup on 09-25-2007 09:23 PM

[haulingthescoreup]

Holy crap, I was feeling grumpy about my interest rate, so I just now went to my USAA site and asked for a CLI on my USAA AmEx. I thought they might take me up to $7K to match the MC, but it said, OK, here's an increase of $25K--$4,500 to $29,500!!! What are they smoking in San Antonio? So much for being conservative. And yes, there's a hard inq, but what the hey. (Does this mean that USAA has hired the same people who programmed Juniper's computers a couple of weeks ago?)

That puts my total CL on my own individual cards to $37,750, plus $14,000 on the AU Discover, plus $50K on the HELOC. Think I'd better go to bed now. I'd rather not have to pick up a third job.

Wonder if this will trigger one of those ever-so-rare myFICO ScoreWatch alerts?

Message Edited by haulingthescoreup on 09-25-2007 09:40 PM

[Anonymous]

Ok, have to ask the "dumb" question, what is a USAA AmEx? Maybe need to ask for that and a BT...but hey, I'm just tickled pink about the 5.5%. Called NFCU about my 5.9% but they told me all new accounts are being given 7.9%. Didn't argue about the supervisor, maybe I just should be happy with 5.9%...

[haulingthescoreup]

---

@Anonymous wrote:

Ok, have to ask the "dumb" question, what is a USAA AmEx? Maybe need to ask for that and a BT...but hey, I'm just tickled pink about the 5.5%. Called NFCU about my 5.9% but they told me all new accounts are being given 7.9%. Didn't argue about the supervisor, maybe I just should be happy with 5.9%...

---

Nothing dumb about it, I'm still not sure myself, but USAA issues two cards: a MasterCard (which it looks like is what you have) and an American Express credit card, not a charge card like we're familiar with from back in the day, with the green background and the Roman centurion helmet. It's just another credit card, but it says American Express. I used it to pay for the Toshiba laptop that I'm beating to death, and I'm hoping that I have the purchase protection plan (remember the commercials with the little kid pouring oatmeal into the VCR slot?), but I'll betcha a nickel that I don't.

I still don't know why USAA offers it, but it's black, and shiny, and it's apparently now worth $29,500. Not that I have any idea what to do with all that--there are only so many stainless steel armoire-style-door fridges that I can cram into my tiny little house.