B of A interest rate reduction

[Anonymous]

I called Bof A to get a lower interest rate....they wont budge..they say they will look at it again in 6 MONTHS!!! is there anyway to get it lowered?

I am paying it off only...not using it at all. I talked to customer retention, credit services, and supervisors/account managers..nothing!!!!

I have a 9k CL and a balance of 7k..thus the reason I"m trying to pay it off!

thanks..any info/help appreciated!!

[Anonymous]

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2007credit wrote:
I called Bof A to get a lower interest rate....they wont budge..they say they will look at it again in 6 MONTHS!!! is there anyway to get it lowered?

I am paying it off only...not using it at all. I talked to customer retention, credit services, and supervisors/account managers..nothing!!!!

I have a 9k CL and a balance of 7k..thus the reason I"m trying to pay it off!

thanks..any info/help appreciated!!

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          I do believe that BOA will reduce your rate in 6 months.  Right now your

          utilization is around 77% and this scares creditors wondering if you're

         having financial difficulties.  Bring that balance down to atleast $4,500 within

         six months and your chances will be better.   Don't be surprised if you 

         receive a letter before six months stating your APR has been lowered.  It

         happened to me recently. 

        SandyK  

        P.S.   I don't know if this is gospel, but BOA likes to see activity on their cards

                 even if just a little charge or two now and then.  Just my take on the

                 situation. 

Message Edited by sankofa on 12-27-2007 10:01 AM

Message Edited by sankofa on 12-27-2007 10:03 AM

[Anonymous]

I think your right on the charging activity...cause the account manager that i spoke to did say something about that.....wonder why they see that as a good thing?

Any ideas

[Anonymous]

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2007credit wrote:
I think your right on the charging activity...cause the account manager that i spoke to did say something about that.....wonder why they see that as a good thing?

Any ideas

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Virtually all CCCs like charging activity.  They make money that way on interchange fees.  It's not just about paying your bills on time and not going over the limit.  CCCs like to see you actually use their cards, and tend to reward cardholders who show frequent use and reliable payment patterns.

Message Edited by cheddar on 12-27-2007 10:27 AM