Today I contacted American Express and asked them to reduce my interest rate on my Blue card. The rate is currently at 12.99%. Their reply was 'we do not have a lower rate available'. What that means to me is they do not want to lower it.
I asked if there were any other options and I was told no. I told the representative I had no choice but to transfer the balance to another card and cancel this account. They said that was correct. You would think they would put up a fight to keep my account open, but that does not appear to be the case.
I canceled the account and will pay off the balance in my debt snowball and never look back.
4 comments:
American Excess...lol.
That's stupid. They just don't care who they rip off or who gets screwed.
Good for you for canceling it. You're still on the right track my friend, keep it up! You're doing awesome.
Thank you Brendan, much appreciated.
How did you find my blog?
I think it was a google search w/ the keyword "Dave Ramsey" in it, haha. Just decided to follow you in your journey to give you some encouragement and advice if possible.
My wife and I are going through the snowball right now w/ about a total of $30,000 in student loans and then we're debt free except the house. That's a tough road ahead of us, but we're getting somewhere. We've already gone through a ton of debt and it's exciting to be near the end!
Thank you for the encouragement for sure! It's crazy how differently you approach things once you get in the groove with this process.
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