Over at Yahoo Finance today, I found this article – Negotiate a Lower Credit-Card Rate from the Wall Street Journal. The artice goes on to say that credit card companies will lower your interest rate if you ask for a lower rate. Most of my credit cards are low fixed rate cards, plus I haven’t paid interest to cards for a long time, however I would agree that credit card companies are customer friendly.
I have forgotten to pay my bill on time twice or thrice and I have called and had late fees waived with both Citibank and Chase (or maybe it was FirstUSA before being acquired by Chase). I call and say – ‘ I got my statement today and it has 35$ of late fees. I have never paid late before, can you please waive the fee’ and they have done so without any questions asked. Also in both cases the late payment was not reported to the credit bureaus.