Technique To Extend Promotional Credit Card Terms (AORX ("X" for extension))

Has anyone ever attempted requesting an extension of the promotional APR period? While for many, AOR's are regularly scheduled 12-15 months, others may choose not to continue to the AOR2.0, AOR3.0, etc. There are a few archived threads which do not seem to support the idea, but I'd like to create a more thorough thread to explore the option.

cjspangler in 2004 (A) and mezmeriz in 2006 (B) and ProfessorKev also in 2006 (C).

A few quotables:
(A) mrbean said CSRs are not given much power to modify terms - as far as I can tell, they are given a set of scripts to read to customers who call in, that's about it. The CC companies have their system set up so that it is easier and cheaper for them to set up new accounts than to modify old ones. Each promo has its own code, etc, and is all programed in, such that as long as the application dept CSRs know how to push some buttons (literally), everything will be ok.

(B) Econiomist said Usually CC companies do not extend 0% offers. If you were to pay it off, some may offer 0% in the future. I have had this happen with Citi and BofA cards.

(C) ProfessorKev OP'd ...I just called and the CSR stated that they have no control over that it is a marketing dept. thing...

Here's my conceptual idea and other members post away for alternative thoughts/suggestions/ideas:

• During month 4 or 5 of a promo period call in to either plain Vanilla CustServ or Ninja Retention rep (great word markkundinger!). In the QS, add alternate scripts in an attempt to obtain extensions.

I have a better idea. Why don't you try defaulting on all your CC debt, wait a couple months, and then negotiate with your creditors to pay off less than you owe?

Seriously though, why bother with this?

The benefits are numerous: less time for new apps, less hassle, better cash flow (no break in arbitrage). Unfortunately, the probability seems very low. I will give it a try in a few months when my balances age.

theman2 said: I have a better idea. Why don't you try defaulting on all your CC debt, wait a couple months, and then negotiate with your creditors to pay off less than you owe?

Seriously though, why bother with this?

gatzdon said: Somebody must have a small degree of control as there are plenty of people on here who have called into CSR's claiming that they understood one meaning of the terms when the terms really meant something else.

Back in January, I called Chase to BT to checking on my brand new Sony Card. CSR said the account wasn't open long enough to do that, but he could reallocate my credit line to another card which also had the 0% offer but had been open for four months. I didn't want the BT that expired 8-07, I wanted the Sony which expired 12-07. He claimed that the other card actually had a few more days than the Sony, all the way to 12-27-07. I took the offer. In August, I called to make sure my BT wasn't ending. Sure enough, it was ending the week I called. The CSR's manager referred it to the correspondence dept, and they sent me a letter a week later (unfortunately, after I paid it off) extending my 0% offer to December on the card I opened in August 06. YMMV, I had a transcript of the phone call in which I authorized the BT, including the CSR's name and the time and date of the call.

I was flipping through my notes which I had made from the 7 month old recording, and quoting over the phone. He believed me.

In other news, if you tell a Chase CSR you are recording, she tells you that her employer requires her to hang up if you are going to do that. The opening recording when you call says "all calls may be monitored or recorded", so I consider that to be notification for all parties and see no reason to say I'm recording. I record it on my mp3 player, and figure 90% of the time I'll never have a need for the recording. If I do need it, I make notes from the recording and let whoever I'm talking to assume the notes were contemporaneous. Phone drones get testy when they find out you record calls, so I don't volunteer that info.

I believe he pointed out that once THEY notify you that they may record, you're BOTH aware, and there's no need to inform anyone.

Hmmm...never knew this was an option. I'm gonna give this a shot sometime in the next few days with citi and report back

I successfully did this with Chase back in January. My post is here

edit: I ended up getting it pushed back a few times, resulting in about 4-5 extra months.

I always record conversations with anyone dealing with money. I typically use Skype from my computer so I can see all the docs, log into my accounts and take notes at the same time. There's several Skype add-ons that will manage the whole recording thing for you. I use one called Pamela - easy to use, saves to MP3. Hope this helps....

I tried extending 6 month promos an additional 6 months with the following:

AM3X         (set to expire 02/04/2008)
Wells Fargo  (set to expire 02/07/2008)
Nat'l City   (set to expire 02/11/2008)
M&T Biz      (set to expire 03/04/2008)

All attempts were unsucessful. The only encouragement I got was "you can try back closer to the expiration of your current offer to see if there are any ne promotions."

bofa told me straight up pay at least 2x the min payment and they will most likely extend it without guarantee as to how long.

i was very precise in asking them about the product i was inquiring about and i'm sure the call was being recorded. i forgot if it was their biz or personal card line.

just ask them or a supervisor you'd be suprised at what tidbits they can discuss.

If the promo APR was 0% w/ no fees, be willing to compromise by saying "I might accept even a double rate than the promo. Ummm, even a triple one would be fine for me".

Back before my FW days, I once told Discover that not only was I going to use 0% from BOA to bring Discover balance to 0, but also cancel the card once I had done so (I was serious). This was about a week before the end of the 0% period. A supervisor extended it for 7 months.

I had only this one balance, and he may have known that. I suspect if I had 200K showing, things would have been different.

I sent a message through Chase online service like ShaneM did, but got a "No" from them. I was wondering is there anything I need to write other than "I want to extend my promotional rate".

TyroneSchulace said: Just paid off my 25k Cambridge Trust through Elan. I called them up and got another 6 months 0% no fee BT. Supervisor was involved, but no hard pull.

I tried the same thing a few days ago, no dice. I didn't push very hard. What exactly did you say, and how did you end up talking to a supervisor?

lhendricks92 said: TyroneSchulace said: Just paid off my 25k Cambridge Trust through Elan. I called them up and got another 6 months 0% no fee BT. Supervisor was involved, but no hard pull.I tried the same thing a few days ago, no dice. I didn't push very hard. What exactly did you say, and how did you end up talking to a supervisor?Like lhendricks92, I am curious for details...
How old is your Cambridge Trust account with ELAN?
Do you have other ELAN cards?
How does your profile look (bureau)? In the middle of an AOR with poor scores or are you now "debt" free?
Are you able to see whether ELAN pulls soft monthly account reviews of you?

Congrats..... Please follow up here confirming whether what was promised actually works out for you.

bump.

Other than rigor's possible experiencebofa told me straight up pay at least 2x the min payment and they will most likely extend it without guarantee as to how long. and Tyrone's actual experience (albeit post payoff)Just paid off my 25k Cambridge Trust through Elan. I called them up and got another 6 months 0% no fee BT. Supervisor was involved, but no hard pull.it appears that 0% APR BT extentions are either not available to most or the AOR-FWF community or we don't press hard for AORX ("X" for extension).

Best practices indicate the standard Dave Hanson rolling** and 12-15 month AOR options are champion methods. The BT extension option is not viable.

**Win333 (sample rolling method)