Angry In Florida
Gainesville,#2Consumer Comment
Sat, March 21, 2009
Although the response earlier about contacting the credit card company requesting lower rates sounds great it has not worked for me! In todays market they would rather you close your account then lower your rate. Close your account, you are in default and therefore they can charge 30% if they want to.
John
Califon,#3Consumer Comment
Fri, March 13, 2009
I tried just that tactic and they couldn't have cared less. So, the account now no longer exists.
The Consumerist
Tempe,#4UPDATE EX-employee responds
Fri, March 13, 2009
Did you know if you called Citibank / Sears Credit card division and call to cancel it but if your objection is the new terms (i.e %charge) they CAN keep you at the lower rate as a retention bonus for making payments on time? The conversation usually goes like this Me (me) Katie (Citibank Sears agent) Katie: Hello Consumerist thank you for calling Sears Mastercard services how may I help you today? Me: Hello Katie I'd like to cancel my account? Katie: Why are you considering canceling your account? Me: Well Katie I recieved in the mail new terms that I cannot agree with. Katie: Well consumerist according to your history you've been a really good customer with citibank and sears we can defer you to a alternate plan that will be throw out these upcoming terms and replace them with lower ones. This will also give you the opportunity to keep you Sears Mastercard Me: I like that Idea! Katie: Ok I'll transfer you to etc...etc. Also regardless of your payment history ALL banks are upping the rates for ALL consumers as a result of the current economy. Also good luck on getting a new job!