Q: I have a Chase Freedom card, and I was hoping to get my interest rate lowered after being a loyal customer for two years. Will Chase do this?
A: Chase is a company that is becoming increasingly hard to negotiate with. It seems to be their policy not to lower anyone’s rate unless the market rate goes down. It is unclear exactly why they are doing this, since they are hurting their customers’ goodwill.
There still are incidents of Chase lowering customers’ interest rates, but they are few and far between.
It is always worth a try, but don’t plan on them being reasonable. You may just have to do a balance transfer to a card company that will be more willing to work with you.
Chase has been doing some questionable things lately, things that are not in the customer’s best interest. If you’re with Chase, you may have noticed the fiasco where they began charging a monthly fee to people who had a low balance on a low interest rate card.
We all know that banks are out for profit, but they should not be doing this to their loyal customers.
If you’re not satisfied at Chase, it may be time to find a new bank.