Stop the presses! Brian was able to get Chase to reinstate his promotional APR even though he accidentally set up in the auto-payment system in a way that incurred late fees. His secret? Asking politely and making a cogent argument that positioned his request in a manner any business would understand. His strange-but-true tale, inside.

Brian writes: "I thought I would share with you the success I had using a couple of your tips with Chase.

First off, I’m trying to pay off my debt. You suggested some time ago that transferring balances to a lower rate credit card and paying it off was a smart decision. Cue Chase sending me an offer to transfer a balance for 3.99% until paid off. I later used another offer from them for 4.99% until paid off. I thought this was great. I promptly transferred the balances and set up my online banking to send a payment biweekly.

Well shame on me, since I had the automatic payments, I neglected my statements for a couple months. Come to find out, my billing cycle consistently ended 2-3 days before my 2nd payment hit the account which resulted in not covering the minimum payment, which in turn lead to late fees and removal of the promotional rate. I didn’t launch an EECB but I did implore to their business sense through their online customer service…and it worked! I got the promotional rate reinstated and I was able to change my billing cycle date through their website.

Thanks for all of your tips!"

Message to Chase:

A couple months ago, I transferred a couple balances to my Chase account with promotional rates. I just reviewed my
account and realized that due to late payments the promotional rates have been removed.

If you review my account, you may notice that I have set up payments to the account on a biweekly basis. The payments are sufficient to cover the minimum payment, but it appears that the way they were set up, the 2nd payment keeps arriving a couple days late.

I will admit this was my negligence and I have changed the billing due date in order to avoid this going forward. In light of this, I am asking that the promotional rates be reinstated on my account. Considering the balance on my account and my payment schedule, Chase will still see significant profit if the promotional rates are reinstated. If the promotional rates cannot be reinstated, I’m afraid will have to consider some of the other balance transfer options I have received from your competitors.

I think based on my history with your company and my credit record this is a fair request. I have never had a complaint about Chase and as I mentioned earlier, I do not blame Chase for the action taken on my account. I should have been paying closer attention. I hope you will consider reinstating the promotional rate based on our business relationship and the fact that it makes business sense.

If you need additional information from me, please do not hesitate to contact me. Thank you.

Their reply:

Dear Brian,

As your credit card company, we value your business. It is important to us that we promptly address your concerns regarding your account.

We are pleased to confirm that your previous Annual Percentage Rates (APRs) have been reinstated. The APR adjustment will be reflected on your next billing statement.

Note: Your APRs may increase in the future if another default occurs. Account defaults include late payments, exceeding the credit line, and having checks submitted to us for payment returned by your bank unpaid.

Brian's message was clear, to the point, admits his culpability, couches argument in terms of how helping him out would make them more money. That's a good style to emulate.

(Photo: lickyoats)