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Discover card interest rates!

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Ok, I had that horrible 23.9 penalty rate on my Discover card from back when my cards all got 60 day lates.

Well, it has been 2 years since then and a perfect payment record since. I call them up and tell them I want a lower interest rate. Seeing as how I don't carry a balance on their cards because the rate is SO high. The service rep was able to go to a one time low of 20.9! I almost choked I was trying so hard not to laugh. I tell her that I've got 2 pre-approvals in front of me for 0% starting then 9.9% after a year. She goes to her ultimate low of the day, 15.9%.

I then say thanks, but no thanks, give me to the department that can close my account.

Low and behold, I end up with a 9.9% fixed APR on that card. Go on everyone, beat up the OC's!

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I would have told them to keep the APR and send me the free toaster - it would be of more use to me.

Looks like the CC companies are finally starting to realize they've pilfered the consumer enough and will do what it takes to prevent closures and defaults….. yeh, right.

Way to go!

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At Vons and Ralphs (I'm not sure of other markets since they're aren't any around here) you can get up to $50 added to your purchase that they give back to you in cash.

There is no cost for this service. In fact, the one percent rebate applies to the cash back as well. Suppose over the next four months you bought just the food you were going to eat that meal at the market, averaging about $5 per visit. Also suppose you got the full $50 cash back on each visit. After 120 visits @ $55/visit you'd have "charged" $6600.00 for a $66 dollar rebate. But since $6000 dollars of that was cash back you actually spent only $600 dollars for food and got a $66 rebate or an 11% net discount. A side effect is that your credit limit is likely to rise faster than it would otherwise.

Note that if you have a Discover card you should NEVER get cash any other way. This ensures that you get the 1% rebate on everything you buy, even if you pay cash for it.

Also, note that this is absolutely the worst card to carry a balance on. First because their rates and fees are quite high. Second because they calculate your average balance over a two month period, effectively adding a little bit of extra punishment for failing to pay off the entire bill each and every month.

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