Saturday, September 1, 2012

Credit Card "Benefits" {Rants}

When I started this blog almost two years ago I had thought a rant every once in awhile would be fun...not rants about friends or anything....just about silly events that I encounter. I have had a few things occur over that time that I thought it would be fun to rant about but I didn't really get around to it...

Well...this morning something happened that is totally worth a rant...and I'm ready....


I have to note that I am fully aware of how credit card companies work and how it is beneficial to them for customers to carry a balance. However, I'm sure they don't try to make this too obvious...usually.

This morning I received an automated phone call saying that there was an important message from my credit card company. There was no issue with my account but I was eligible for an interest rate reduction and if I was interested I should confirm that I would like to talk to a customer service representative.

Thinking this might be a scam, but not wanting to pass up on a lower interest rate, I decided I'd just hear what the rep had to say. I was prepared for some sort of catch...

Rep:  "Good morning ma'am. You are eligible for a permanent interest rate reduction on your Bank of America Credit Card. We are offering you 6% interest as long as you continue to make your payments on time."
[Wow! Great interest rate for my longest standing line of credit! They must be rewarding me for being a long time and good customer! I just have to continue to make on time payments on my $0 balance card? No problem! I'm sure there is a catch somewhere...]

Rep: "Our records indicate that you have a $3000 balance on the card."
[WHAT????? Who stole my card? I have NO balance on this card...he must mean credit limit?]

Me: "Oh no no no...I have no balance on this card."

Rep: "Oh...then my records are showing you have a combined $3000 balance on your other cards..."
[Ummmmmmm no.]

Me: "No I don't have nearly that balance on my other credit cards. There must be some sort of mistake. Do you have the correct customer? Do you know my name?"

Rep: "Yes we have the correct name here."
[Ummmmmmm prove it!]

Me: "Well those are not my balances...what name do you have? Who do you think you called?"

Representative gives me the name of a person. As suspected, I have no idea who this person is or why my number is attached to the account.

Me: "No you have the wrong person." (I give my name).
[Maybe I am still eligible...hey this is a great rate.]

Rep: "I am sorry ma'am. I think our system made a mistake with the phone number."

Me: "Well am I still eligible for this interest rate reduction?"
[Probably not...but hey they screwed up...maybe they will offer it to me anyway.]

Rep: "Yes ma'am you could be eligible but unfortunately you don't have a large enough balance on your card."

Me: "Oh I see, so I don't owe you enough money to qualify for a lower interest it."
[Thanks for rewarding me for being a long time customer with on time payments and a $0 to low balance...I appreciate it!]

Rep: "Unfortunately ma'am. God willing, next time you will have a large enough balance to get a lower interest rate."
[HAHAHAHA GOD WILLING I will put myself into enough credit card debt??? line of the phone call!]

Me: "Uhhh no. I would never HOPE to have that high of a balance on a credit card. Thank you." (I hung up.)

Like I said before, I understand that credit card companies would love for customers to carry a balance so they can get more in interest. So it makes sense that they would attempt to show me that there is a "benefit" to holding a balance. (I put benefit in quotes because obviously paying no interest on $0 balance or higher interest on a much lower balance is much better than driving up your balance to get a lower interest rate....I have a degree in is in no way a benefit).

But with his spin on it was almost insulting..."God willing you will have a large enough balance next time..." hahahaha wow.

And also....wouldn't a lower interest rate encourage a customer who carries no balance to spend more on that particular card??? Just saying....


This conversation with them this morning was just too good not to share! Anyone else ever have something like this happen? An insulting spin? Silly credit card scam? Let's rant in the comments! I'd love to hear it!


  1. I think you should contact that credit card company and confirm that it was indeed them who called you. I find it very strange that they called you with this offer (most offers come in the mail) and that they had the "wrong account"
    I think it's a scam and you better alert your credit card compnay....NOW

    1. I was thinking it might be too...I just tried to call but they are closed now for the weekend...I will call on Tuesday to double check...

      It does sound really scammy...but the fact that they didn't care to get my information once they found out I do have room on my cards (if they really wanted to use them) makes me feel like it was probably legitimate...but I will be calling to make sure...good idea.