After you are done with BT all your money from credit cards with 0% promo or you have unused credit cards with 0 balance, you might consider playing the retention game to extend your 0% promo or make more bonus money.
For example, you are about to pay off your balance because your 0% promo is ending. Pick up the phone and call your credit card issuer. Follow the script below:
You: Hi, I’m thinking of closing my card…..(Use the word think , not want since they might close it forreal)
CSR: May I ask why you are closing?
You: Do you have a retention department? (Talk to retention if yes, if not, talk to current CSR)
You: oh… Citi(or a different issuer) gave me the option of balance transfer my balance with you guys right now at 0% APR….ummm…so I guess …(Again, you want to play the fishing game..don’t reveal more information than you need to..give them a chance to give you some offers)
CSR: What would get you to stay with us?
You: Well…I would like my 0% APR extended…
CSR: ……
Again, the above scenario is ymmv. Most credit card issuers have retention department whereas they do not want to lose you as a customer. When you call, be reasonable and do not use threat. The worst thing you want to do is pissed off the CSR. Don’t go with threats like “I want to cancel !” etc… but use the fishing method to get more info or ask for it. If it doesn’t work out the first time…try again with a different CSR or talk to the manager.
And if you have credit cards with 0 balance, and it is sitting around for nothing. Consider signing up for Credit protect or similar programs to it. For example, this $100 Credit Protector Rebate is still available. Once you sign on, go spend at least $100 in Gas in the next thirty days. If you can’t, ask a sibling or your parents for their gas receipts.
You will receive you rebate card to fill in, then send your attached coupon rebate with your receipts, finally wait for your $100 rebate check so you can cancel your citi credit protector. It’s best to do this with a 0 balance Citi card, hence you don’t have to worry about canceling it within 30 days.
Cancellation number:
1-888-592-7344 Dept# 87897
Chase and other issuers have similar programs too.
