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I Can't Negotiate with Credit Card Companies?

|Includes: American Express Company (AXP), CCF, JCP, SHLD

Half of the year is now gone and I was going through the first 6 months of paperwork I have piled up and was filing everything like a good person should do.  I was seperating all of my credit card statements into their respective folders when I started looking at their interest rates.  So I came up with a plan to call the companies and try to negotiate a lower interest rate.  So as you read about the companies and what they said I am going to also give my opinion 1-5 with 5 being the best on customer service.

The companies I called were: American Express, Sears Mastercard, Chase, Fingerhut, and J.C. Penny.

I was extremely nice in all of my calls because lets face it, you can catch more flies with honey then vinegar.  Some of the questions I asked were:  Is my account in good standing? (I already knew they were) Do I have any late payments? (I knew I didn't) and is there anyway I can get my current interest rate lowered?

First up:

American Express

I have the Platinum Business Card.

Customer Service Rep was extremely polite and made small talk while looking up my account information.  When asked if I could get my interest rate lowered I was informed that I already had one of the lowest rates she had ever seen.  She said the average rate for this card was 13.99 + Prime and that I was paying 5.99 + Prime.  So she congratulated me on a low rate but regretted to say that I could not get any lower at this time. 

For Customer Service I will give American Express 4.5 out of 5 even though they would not lower my APR.

Sears Solutions Mastercard

I have just a regular Sears Solutions Mastercard through HSBC and Mastercard.

The customer service person was not as friendly as the American Express lady and I could easily tell that English was not their first language but I could still tell what they were saying.  When asked if they would lower my interest rate they said that it could not be done.  They would mail me a letter with the exact reason of why my rate could not be lowered.  So I am expecting that in the mail in 7-10 business days. 

For Customer Service I will give Sears Solutions Mastercard a 3.5 out of 5.


This is one of the first cards that I ever was approved for when I first started college, and now I only use this card for my Netflix subscription.

The Customer Service Rep flat out said 'No' that I could not get my APR lowered.  When asked how and when would be a good time to get it lowered it sounded like a sarcastic tone when she said that I would be the first to know if I could get my APR lowered and that I would contacted through the mail.

For Customer Service I will give Chase a 1 out of 5 because the Rep was just so blunt.


I got this card last Christmas to buy a gift out of it for my little brothers.

I asked to see if it would be possible to get my rate lowered and the customer service rep ushered me to look at my contract that I signed nearly 6 months ago to notice that my rate could NEVER be lowered.  I asked if I could close this account and apply for a new one and get a lower rate, the service guy said that if I were to do that, they would make sure that I got the same rate or an even higher one.

For customer service I would give Fingerhut 1 our of 5 for making sure I would get the same rate or a higher one.

J.C. Penny

Got it on a whim to buy a suit and waffle iron.

The guy I got was extremely nice but he asked my name and I responded "Thomas Jowers" He then told me that I could not get my APR lowered at this time but would be sending me some additional information in the mail.  The only thing that really bugged me is that he called me "Ma'am" no less then 5 times. 

Because he knew my name was Thomas and he stilled called me 'Ma'am' I will rate JCP 3.5 out of 5.


I have good credit (north of 700)! So I don't understand why none of the companies would work with me on my APR.  Does anyone have any tricks or have you had any luck negotiating with Credit Card companies.  Is it because I am young? or that I have a small college loan? or that they just aren't negotiating at this time? 

I own American Express Stock.  I try to comment back on comments. Thanks