So, I’ve been paying off some credit card debt over the last few years, and doing a good job at it. Also understanding how they work and actually paying attention to them monthly, looking at the statements. I started to care a few years ago when I had to use the last of what was on 2 cards to put tires on my car and just got by by the skin only teeth.
I have eliminated the high interest card debt. I’m starting to work on my last lowest rate card which actually has the most dept. I survived the pandemic with gusto. Probably because I wasn’t one to hide away in lockdown. I was out in the thick of it with no fear even though I never thought it was bullshit and always new it was dangerous. Quite a few people didn’t look at it like that. They sat at home and collected money from the government, but that’s besides the point. So I paid off one card, got a $3000 boost on that card, which I paid off, it’s worth $6250. Got another $3000 card on pre approval from frankly a stupid, shitty bank. I hate them, but I will take their $3000 card it’s good for my debt/credit ratio. I consider them a seriously shabby bank and will not use that card for much. It’s my phone bill to keep it alive, but they are not getting another fucking cent out of me.
The other card is $8750 or something like like that. I don’t know how I ended up with these odd numbers, but whatever. It’s a low interest rate card. It was down to $7900 or something like that on the last statement. The payment monthly is around $75 monthly. I pay in chunks of $300, $400, $500 monthly. More if I can. If I’m good and not spending. I’m noticing though, there is a lot more than $75 coming off monthly. I realize it’s the interest but also insurance. Ballance Protector, which ends up costing more than the monthly interest. It has nothing to do with the card, that’s going to the bank. They want a cut. It’s a good cut too. I said fuck that shit, I need to get rid of that. It’s a waste of money. You turn a sort of low 9% card into a high interest rate card. So I called them, the bank and advised I want that Balance Protector cancelled. The lady says alright, I am going to patch you through to the department and by the way, while I have you are, they are offering you an increase of $4250. Do you want to accept that? I said, yes, for sure. Go for it. I had to give her a “yes” into a recorded message for confirmation. Again it’s good for the ratio. It’s excellent for the ratio. I will not spend it. I have learned my lesson. I can breathe again. Like I said a few years ago, I just had $650 for tires between 2 cards which I used, I had $0. Currently I have around $11,000. I owe about $7900.
That’s good, she patches me through to the department. I get this dorky nerdy guy who sounds very professional. This is the bank. Not the card.
How can I help you.
Hi, yeah I’d like to cancel my Balance Protector Insurance.
Oh. Well I’m doing well btw, thank you for asking, how can help you out with that, can I ask why you want to cancel?
Ah, hahaha! That’s good… I just think it’s waste of money. I am capable of paying things off, I am currently trying to pay things off, it’s like turning a low interest rate card into a high interest rate card. I want it cancelled.
Oh, well we can’t have people with more of a monthly payment they can handle. Ok, well let’s take a look here. So, did you make it though the pandemic?
Uh…. Yeah, I did.
Well that’s good because alot of people didn’t…
Yeah, I know. I know.
I wanted to say “yeah, well I also worked in a high risk environment where most people would sit on their asses at home and get paid by the government. I am also in physically excellent physical condition, I was actually told by my uncle yesterday that I look “phenomenal for my age” and it’s not just looks. I very good and capable at my job, so yeah… Of course I made it through the pandemic… with gusto. I flourished. I am also single man. I’m a real man” he’s guilt tripping me.
He says Ok well, before we proceed I need to inform you of everything we offer in balance Protector and everything you are letting go of by cancelling it…
He then goes on for literally 3-5 minutes, everything I actually already looked up before deciding to cancel it.
I almost fell asleep listening to it. He gets to the end and I am having trouble hearing him clearly at times because he’s on speaker phone. That delay where you end up taking over each other. I guess he was offering me a 50% deal.
My response was literally like I was just sleeping “huh, what was that? I’m sorry I can’t hear you all that well?”
He asks me if I would accept a 50% off deal? To which I replied no, I want it cancelled.
He then informs me that well alright as of this date, it is cancelled. Thank you for being a good customer, etc, etc, yada, yada.
It just got me thinking like what the fuck. Why the fuck am I paying you anything? I think even if I was out of work or sick I still could come up with a minimum payment or 2. If I was sick enough that I died, they just wouldn’t ever get their money. Ha! I don’t actually trust that if I needed it, they’d be there anyway. This is a good bank, imo, the best, but still. Even they are just looking for a cut.
I did find it kind of cool how going into the cancelation request, I still managed to get a nice pre authorized credit increase before hand.