you say to them that you see they are a good customer so you can lower their APR if they switch over to this other card ( and no they dont pay their balance off in full every month ) So it would save them money. There card number would stay the same and they could still use the one they had in their hand until they got the new one in the mail. All the other features are EXACTLY the same and still only 50% of the people I tell this too accept this! Anyone know why? Is it just the fact that someone doesnt want to be "sold". I feel like I am talking to a brick wall sometimes because people shut me out when I know I can help them. weird huh?
2006-08-14 18:05:59 · 11 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
wen you switch to another card your balance, it goes against your credit score
2006-08-14 18:08:42 · answer #1 · answered by janmarbol 3 · 0⤊ 0⤋
They're probably wondering what the catch is - people are used to being swindled by companies and assume there must be a hidden 'gotcha' somewhere.
For example, if it's EXACTLY the same except for the interest rate, in what way is it a 'different' card? Last time I got a 'new' card it had 'features' I didn't want that would have cost an extra 1% a month if I hadn't specifically requested they be removed. The company not only failed but refused to reveal this cost until I spent over 10 minutes on the phone demanding an answer.
And why would a credit card company *want* to offer a lower APR if they can get away with charging a higher one? Most companies I've worked with will do anything up to and including outright fraud to jack up my interest rates and keep them there forever. Personally I immediately mistrust any company that won't give you their best offer up front but only comes up with a 'better' one later.
For that matter, you're just reading prepared text given to you by the company which pays you to do what's in *their* best interest. Is it possible you're actually setting your customers up for some kind of swindle that you're not aware of?
Your customers may be smarter than you think.
2006-08-15 01:21:32 · answer #2 · answered by dukefenton 7 · 0⤊ 0⤋
It's because most people have no idea how much money it really costs to maintain a balance on a credit card. So many people just pay the minimum not realizing they'll NEVER pay their balances off that way and that they are basically giving money away to the credit card company. Credit card companies and banks make their money off of people who charge and don't pay off their balances each month, which is the majority of people.
So, when you offer them a lower APR they probably have no idea what "APR{ or "Annual Percentage Rate." even means. Next time ask them if they know what their APR is and what that stands for. I'd wager that you'll get silence or "no, I don't really pay attention to that." When you offer a lower APR they probably think there's some kind of catch.
Now, if you offered a lower APR to someone like me I'd want to know how long that percentage rate is good for; is it a promo for balance transfer or does it go back up after a certain period. I'd also want to know if I'd have the option, whenever I was offered a limit increase, of taking a lower percentage rate instead.
2006-08-15 01:17:04 · answer #3 · answered by nquizzitiv 5 · 0⤊ 0⤋
I answered this "almost" same type of question a minute ago. Consumers don't want to be bugged by anything else other than what they are calling for no matter how good it sounds. Some may think it's a gimmick or a sales pitch and honestly, nowadays, it's a fast paced world and people just don't have the time to listen to anything else.
2006-08-15 01:12:31 · answer #4 · answered by Anonymous · 0⤊ 0⤋
People don't trust talking about money and their security over the phone. Too risky. People also don't trust major companies telling them they can offer them a better deal...because it's usually not a better deal. The only time a major company calls is because they want your money....that's why you get shut down.....nobody trusts phone sales.....it worked in the 50s and 60s....but not today.
2006-08-15 01:18:28 · answer #5 · answered by markus 4 · 0⤊ 0⤋
50 percent is an excellent conversion rate. People have their free will and they are inundated with offers daily and it all seems too much. When you are a salesman, you must learn to accept "No" graciously and go on to the next person. I bet your boss loves you with the 50 percent conversion.
2006-08-15 01:10:23 · answer #6 · answered by Anonymous · 0⤊ 0⤋
That's it people don't want to be "sold". I know I don't. You have to talk to them like a good friend and establish trust then come in with the bang. Even if it will benefit people, they want to feel like they discovered things for their self's, like they didn't get fooled.
2006-08-15 01:11:24 · answer #7 · answered by Legal@last 1 · 0⤊ 0⤋
50% is very good. the rest of them are stupid. i can only get 1 in 25 people to accept.
2006-08-15 01:10:18 · answer #8 · answered by ricky 4 · 0⤊ 0⤋
Sounds like you are gonna make duplicates of the card. I;d be a little leary of that too!
2006-08-15 01:09:18 · answer #9 · answered by Harley 3 · 0⤊ 0⤋
with all the scams out there, they truly believe it's not true or there is a catch.
2006-08-15 01:19:48 · answer #10 · answered by grassi73 1 · 0⤊ 0⤋