I have had my Providian card for quite some time, it started as a 0% for 12 months, no balance transfer fee. Once the 0% expired, I played the BT game and transferred the balance. Since then Ive had a 0 balance and pretty good CL. Then WAMU bought them some time ago.
Today I wanted to see if they had any retention deptartment offers, for a no fee BT or exended low APR for the life of the card. I called and said I was thinking about doing a BT but didnt want to pay a fee. The woman politely said no. I told her that there were many other CC companies that would waive the fee, but she still said no. I then asked to transfer me to have my account closed, she said ok. She paused for a minute then said my account was closed!!.....no retention offers...no pleading for my business, no nothing, I was shocked!
I then asked to be transferred to a manager which she did. I told him I was really surprised that they didnt offer me anything to keep me as a customer. He said that all of thier agents have the same ability and that ever since WAMU merged with Providian they no longer have a retention department. I dont know if I was 'Black Listed' as a 'BT customer' but they didnt offer me squat! I asked him if he could reopen my account (I didnt really want to have it closed ) but he said I would have to call back M-F as the opening dept was closed. said they can 'reactivate' it within 30 days. I would like to keep this card for my CL ratio. The guy was pretty nice but Im still shocked they just 'let me go' as a customer.
Just a heads up, not sure if this is well known...
this is why you always say "What is the procedure to close my account?"
NEVER say you outright want to close your account.
If they have a retention department, they will always ask why you want to close. If they don't ask why, call back a few more times, if you get the same response each time, they don't care about your business.
You are obviously a non-profitable customer for them, so why would they really want to let you milk them for a 2nd round of BTs ? (yeah, I know Citi, Chase, etc, can't get enough of the milking!) Can't really blame them for jumping on the first opportunity to close your account.[/
Thanks for the headsup Probanker, but I also avoid the retention game unless closing a card really is my most compelling choice.
aeiouy
Senior Member - 1K
posted: Apr. 14, 2007 @ 11:20p
You should never ask for your account to be closed unless you actually are prepared to have it closed.
Some organizations are getting wise to the games we consumers play, milking them dry by constantly threatening to cancel.
I don't know if that is there policy, or that rep felt like shining you on, but it is pretty funny.
I think it is funny that you asked to have your account closed, then essentially told them you were not serious about it and were just doing it to try and get a better deal.
Seriously... why would you ask for an account to be closed unless you actually were prepared to have it closed. If they are smart they will have earmarked your file with "BWCW" aka Boy who cried wolf.
asarat
Happy Member
posted: Apr. 14, 2007 @ 11:24p
Ha Ha Ha Even though i feel sorry for the OP, I cant help LOL
GroveStreetOG
Senior Member
posted: Apr. 15, 2007 @ 12:14a
Unless the OP really needs the card for the credit limit, he should go on and let the account stay closed? Why, I hear you ask? Well, I'll tell you. Maybe they didn't want to retain you as a customer, but once you're not a customer, don't you think they'll want you as a new customer? I got an offer for my wife and myself for cards with 0% purchase rate until 10/01/08 so long as I transferred at least a $100 balance upon applying. My wife's card has CashBack, with more than 5% for gasoline purchases for the first 6 months (5.5 to 10, depending on total purchases), and my card has 1% worth of points, with 6000 bonus points on first purchase. You get access to your credit record and credit score too. The balance transfer is at 10% interest, but I paid the balance transfers right away and owed only 22 cents interest for each transfer. So now we have cards that will get us 0% on purchases for about 18 months! Depending on your circumstances, consider leaving the card closed, and just keep a lookout for what's in the mail. Washington Mutual is giving some good offers for new customers. If you're not special to them as a current customer, become special to them as a prospective customer!
fwgossard
Member
posted: Apr. 15, 2007 @ 12:31a
This has been happening with me for about 6 years with AMEX Gold. I signup, cancel a month before the fee gets billed. Then I will get a "1 year free" offer about 4-5 months later. I asked them on the phone why they will never waive a fee for a 2nd year but have made me offers within months to come back for no free each time I quit because of the fee. They didn't have an answer. I happen to also have a linked BLUE card so I never lose any points during the close/reopens.
LustfortheMoment
Senior Member - 1K
posted: Apr. 15, 2007 @ 12:35a
hahahahahahaha....
The OP got exactly what he deserved. Folks around here really want cc issuers to grovel for their business. It all stems from an illusory feeling of self-importance.
You asked to have the account closed, and it was closed. Sometimes in life you have to be careful what you wish for.............
newyork4me
Senior Member
posted: Apr. 15, 2007 @ 1:09a
LustfortheMoment said: hahahahahahaha....
The OP got exactly what he deserved. Folks around here really want cc issuers to grovel for their business. It all stems from an illusory feeling of self-importance.
You asked to have the account closed, and it was closed. Sometimes in life you have to be careful what you wish for.............
Actually LFTM, I think it is that he got what he didn't wish for. I called Am.Ex today to close a Hilton card I have never used, and I after 15 minutes of turning down offers of 10,000 20,000 and 30,000 bonus points to stay, I was priveleged to listen to a 30 minute speal about the 5pts I get on Wireless and 3 pts for every dollar spent and ......
I have a feeling that if I was actually seeking the bonus offers, they would have closed my card instantly....Next time we will just have to call with the opposite intent of what we really wish to have done.
lin821
Thrifty Member
posted: Apr. 15, 2007 @ 2:44a
newyork4me said: ...Actually LFTM, I think it is that he got what he didn't wish for. I called Am.Ex today to close a Hilton card I have never used, and I after 15 minutes of turning down offers of 10,000 20,000 and 30,000 bonus points to stay, I was priveleged to listen to a 30 minute speal about the 5pts I get on Wireless and 3 pts for every dollar spent and .... If I were you, I would have accepted the 30K bonus retention offer. Hilton AMEX is a free card and there's nothing to lose. You could have use those points for some hotel stays.
I agree with other posters. Be careful how you voice your account closure request. Or you could end up with a closed account.
andrey0
Senior Member
posted: Apr. 15, 2007 @ 2:52a
lin821 said: I agree with other posters. Be careful how you voice your account closure request. Or you could end up with a closed account.
And what's wrong with that? Just reactivate it.
ProBanker
Senior Member
posted: Apr. 15, 2007 @ 1:29p
newyork4me said: .....I called Am.Ex today to close a Hilton card I have never used, and I after 15 minutes of turning down offers of 10,000 20,000 and 30,000 bonus points to stay, I was priveleged to listen to a 30 minute speal about the 5pts I get on Wireless and 3 pts for every dollar spent and ......
I have a feeling that if I was actually seeking the bonus offers, they would have closed my card instantly....Next time we will just have to call with the opposite intent of what we really wish to have done.
Yes, same here! I have closed a quite a few cards before I realized that it wasnt optimal for your credit score. I have closed 2 Macys cards, 2 Chase (1 BankOne) and a few bank accounts. EACH time I had to listen to multiple sales pitches and the pleading for my business.
I had no idea that a CC company would just let me go like WAMU did. Either I wasnt a 'profitable' customer or they dont really focus on customer loyalty....
And to those laughing at my situation, I dont really give a flying F*** I was prepared to have my account closed, I just didnt think they would do it so fast! Good customer service I guess!
HikerT
Member
posted: Apr. 15, 2007 @ 1:57p
ProBanker said: I would like to keep this card for my CL ratio.
I'd think you might also want to keep it for reallocation purposes. Instead of the retention game, don't most folks just sign up for a new card (with a 0% BT offer) and reallocate the credit?
ScootyPuffSr
Senior Member - 2K
posted: Apr. 15, 2007 @ 1:59p
I've never seen any info about CLIs with WaMu. I've been stuck at $1K for nearly a year with my WaMu card. Has anyone had any luck requesting a CLI without a credit pull?
Kismet4Max
Senior Member
posted: Apr. 15, 2007 @ 3:37p
ScootyPuffSr said: I've never seen any info about CLIs with WaMu. I've been stuck at $1K for nearly a year with my WaMu card. Has anyone had any luck requesting a CLI without a credit pull?
Nope, the only way to increase your CL is to wait. They do automatic reviews I believe every 6 months. It's taken me 3 years to go from $500 to $7500, but I rarely use the card (maybe once every 4 months).
ILikeDollars
Greedy Member
posted: Apr. 15, 2007 @ 5:00p
Same basic message, diferent reaction:
s0ssos said: haha. serves you right. you asked to have your account closed, and it got closed. pretty good customer service-quick, prompt, did what you asked
LustfortheMoment said: hahahahahahaha....
The OP got exactly what he deserved. Folks around here really want cc issuers to grovel for their business. It all stems from an illusory feeling of self-importance.
You asked to have the account closed, and it was closed. Sometimes in life you have to be careful what you wish for.............
Case study: the difference between getting green (approval) and red (disapproval): sounding like you are making a joke vs sounding like you have the utmost contempt for everyone on this board
Thanks for the data point, OP. I usually lead with the slightly less effective "I'm considering closing my account" , since this usually provokes one of three responses:
1) OK sir I can do that for you if you want ("no deal") 2) Would you like me to transfer you to a department that can help you with that? ("retention will offer you a deal") 3) I can offer you bla bla bla to stay ("let's make a deal")
rbjrk
Happy Member
posted: Apr. 15, 2007 @ 5:17p
WaMu is one of the most rigid bank. These are the reasons i can give, 1) They dont allow you to consolidate your line of credits. 2) No BT fee waivor 3) No more promotions with this card. 4) No credit card retention department. 4) No 0% APR any more 5) Only a couple of cards are offered by WaMu, unlike CITI where there are 20-30 cards. 6) Loosing their customer base very quickly
OP, from my experience same thing happened to me with Chase and Discover cancelled without retention. Now I got a 0% for life offer from Discover the very reason why I closed the existing account!! Move on, they will have u as a new customer soon with a nice offer.
rbjrk said: WaMu is one of the most rigid bank. These are the reasons i can give, 1) They dont allow you to consolidate your line of credits. 2) No BT fee waivor 3) No more promotions with this card. 4) No credit card retention department. 4) No 0% APR any more 5) Only a couple of cards are offered by WaMu, unlike CITI where there are 20-30 cards. 6) Loosing their customer base very quickly
I get at least 2 CC offers/month from WaMu, mostly with some type of 0% deal....
ProBanker
Senior Member
posted: Apr. 16, 2007 @ 4:03p
They re-activated my account.
ScootyPuffSr
Senior Member - 2K
posted: Apr. 16, 2007 @ 4:04p
g10ny said: Still, the free monthly FICO score is nice...
It isn't that great for me. It is off from my regular FICO by 30 points and it went down in a month where my regular FICO went up.
So it is inaccurate in both magnitude and trend for me.
ScootyPuffSr said: g10ny said: Still, the free monthly FICO score is nice...
It isn't that great for me. It is off from my regular FICO by 30 points and it went down in a month where my regular FICO went up.
So it is inaccurate in both magnitude and trend for me.
YMMV
Same experience here, FICO from myFICO (using TU) is 60pts higher than one provided by WaMu. The difference is that the WaMu is a "credit card view adjusted" FICO and I happen to have quit a bit of cash borrowed from them at 0%.
I get at least 2 CC offers/month from WaMu, mostly with some type of 0% deal....
I also get many offers (seems weekly) for .99 or 1.99 balance transfer offers from WaMu.
ProBanker
Senior Member
posted: Apr. 17, 2007 @ 4:03p
tbuccelli said: ScootyPuffSr said: g10ny said: Still, the free monthly FICO score is nice...
It isn't that great for me. It is off from my regular FICO by 30 points and it went down in a month where my regular FICO went up.
So it is inaccurate in both magnitude and trend for me.
YMMV
Same experience here, FICO from myFICO (using TU) is 60pts higher than one provided by WaMu. The difference is that the WaMu is a "credit card view adjusted" FICO and I happen to have quit a bit of cash borrowed from them at 0%. Thanks for posting that info, Ive never had my 'real' score pulled.... well not in the last 3 years. Ive pulled my credit report for free but you have to pay for the actual score
ProBanker
Senior Member
posted: Apr. 20, 2007 @ 10:51a
Bump
ProBanker
Senior Member
posted: Apr. 26, 2007 @ 11:40a
Bump
markkundinger
Senior Member - 2K
posted: Apr. 26, 2007 @ 1:19p
Why are you bumping? I think this thread already served its purpose.
ProBanker
Senior Member
posted: Apr. 27, 2007 @ 10:48a
Spread'n the word.
LustfortheMoment
Senior Member - 1K
posted: Apr. 27, 2007 @ 10:55a
I love it when folks feeeeeeeeeeeeeeeel that cc issuers should genuflect when they "threaten" to cancel a card. Hey, if a retention offer enhances your sense of "self-worth", knock yourself out!!!!!!!!!!
ProBanker
Senior Member
posted: Apr. 27, 2007 @ 11:02a
LustfortheMoment said: I love it when folks feeeeeeeeeeeeeeeel that cc issuers should genuflect when they "threaten" to cancel a card. Hey, if a retention offer enhances your sense of "self-worth", knock yourself out!!!!!!!!!! Most cc companies try to retain the business...do you not know that??
LustfortheMoment
Senior Member - 1K
posted: Apr. 27, 2007 @ 11:07a
Most cc companies try to retain the business...do you not know that??
Sure, it's in THEIR interests to retain upstanding card holders. I just laugh at the sense of entitlement expressed by many who expect the cc issuer to beg and give away the bank to retain them. Hey, if one needs a retention officer to boost one's self esteem, you're in trouble ........
ProBanker
Senior Member
posted: Apr. 27, 2007 @ 11:07a
I really dont understand how or why you are relating trying to get a good deal to having an "illusionary sense of self worth".
Skipping 6 Messages...
doglar
Thrifty Member
posted: Jun. 24, 2007 @ 12:15a
I have closed many cc accounts and it was always the same thing...all these offers pouring out when I had already done the BT with someone else and now I just wanted to close the account. So I think it is the banks that have created this expectation of the bank chasing the customers (not the customers).
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