A credit card user has revealed how she recouped hundreds of dollars from her credit card company.
Posting on social media, nat.eberhart described how she called Capitol One to ask them to lower her interest rate.
“This is your reminder that sometimes all you have to do is ask for things and you will get them,” she said in her TikTok video.
Though her request for the credit card company to lower the rate was refused, the short phone call resulted in them refunding the last three months interest she had paid.
“The call was literally four minutes long and I just got back hundreds of dollars,” she disclosed to her followers.
The news was greeted enthusiastically by the channel’s users and there were 1, 286 comments on the post.
“As someone who works in a call center, I will do sooo much more to the nice cutomers than the ones who scream at me,” wrote one respondent.
Another confessed: I saw a TikTok about this 2 weeks ago. I immediately contacted my bank and have 0% interest on my credit card for 12 months.”
Yet another commented: “I got a 5% decrease. Thanks friend.”
Responses to the video revealed that it’s not only Capital One that’s responding positively to its account holders.
“Discover gave me 0% APR for a year, chatted with them right after I saw this. Thanks for posting!” said one TikTok user.
Meanwhile another posted: “I just called discover and they lowered mine 6% – she said it was a standard interest lowering – took about 3 minutes – just be as polite as possible.”
However it didn’t work for everybody. “I called all 3 of my CC companies and tried this and they all said NO,” posted one disappointed commenter.
NEW YEAR, NEW START
Christmas is an expensive time of year and with 2025 just around the corner now is the perfect time to take stock of your credit card finances.
Americans were expected to spend up to $2,100 this festive season, according to CBS News, with many overspending and over-extending their budgets.
With widespread deals and sales to tempt them, around 27% of US shoppers used debt for holiday purchases in 2023, according to data collected by Morning Consult Pro.
What's a good credit score?
FICO, the most widely known credit scoring system, and its rival VantageScore both use a range of 300-850 points.
Below we list what’s considered a good and bad credit score, according to both systems.
FICO
Poor: 300-579 Fair: 580-669 Good: 670-739 Very good: 740-799 Exceptional: 800 or aboveVantageScore
Very poor: 300-499 Poor: 500-600 Fair: 601-660 Good: 661-780 Excellent: 781-850
What’s more, 30% of these were still paying off last year’s purchases this year.
Author and financial expert Rachel Cruze advises consumers never to use the festive season as an excuse for going into debt.
Writing for Fox News, Cruze said: “The problem starts with believing it’s not a big deal to go into debt or swipe a credit card for your holiday gifts.
“The easiest way to break this habit we have as a society is to cut up your cards and decide you’ll only use the money that’s in your bank account.”
She advises preparing now for next Christmas. “Once January 2025 hits, start saving a little bit every single month for your Christmas expenses,” she says.
“Also, remember that lots of Black Friday sales start in mid-November. Planning ahead for Christmas 2025 will help you hop on those deals early.”
One couple ended up $20,000 in debt across multiple credit cards after spending on their home.
And supermarket giant Walmart came under fire recently from one unhappy customer after holding money from her card.
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