A credit card user has revealed how she got hundreds of dollars back from her credit card company.
Through her social media posts, nat.eberhart described how she contacted Capitol One to ask them to lower the interest rate.
“This is your reminder that sometimes all you have to do is ask for things and you'll get them,” she said in her TikTok video.
Although her request from the credit card company to lower the rate was denied, the short phone call resulted in a refund of the last three months' interest she had paid.
“The call literally took four minutes and I just got hundreds of dollars back,” she revealed to her followers.
The news was received enthusiastically by channel users, and there were 1,286 comments on the post.
Read more about credit cards
“As someone who works in a call center, I will do much more for nice customers than those who yell at me,” one participant wrote.
Another admitted: I saw a TikTok about this a couple of weeks ago. I immediately contacted my bank and got 0% interest on my credit card for 12 months.
Another commented: “Got 5% off. Thank you buddy.”
Responses to the video revealed that Capital One isn't the only one responding positively to its account holders.
“Discover gave me 0% APR for a year, and I talked to them right after I saw this. Thanks for posting!,” one TikTok user said.
Meanwhile another posted: “Just called Discover and they reduced my interest rate by 6% – said it was a standard interest reduction – took about 3 minutes – just be as polite as possible.”
However, it did not work out for everyone. “I called all 3 CC companies and tried it, but they all said no,” one frustrated commenter posted.
New year, new beginning
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 holiday season, according to CBS News, overspending and over-stretching their budgets.
With massive deals and sales to tempt them, about 27% of U.S. shoppers used debt to purchase vacations in 2023, according to data compiled by Morning Consult Pro.
What is a good credit score?
Both FICO, the most popular credit scoring system, and its competitor VantageScore use a 300-850 score range.
Below we list what is considered a good and bad credit score, according to both systems.
Fico
- Poor: 300-579
- Adel: 580-669
- Good: 670-739
- Very good: 740-799
- Exceptional: 800 and above
VantageScore
- Very poor: 300-499
- Poor: 500-600
- Gallery: 601-660
- Good: 661-780
- Excellent: 781-850
What's more, 30% of them are still paying off last year's purchases this year.
Author and financial expert Rachel Cruz advises consumers not to use the holiday season as an excuse to go into debt.
Writing for Fox News, Cruz said: “The problem starts with the belief that going into debt or using a credit card to get holiday gifts is no big deal.
“The easiest way to break this habit we have as a society is to cut up your cards and decide that you will only use the money you have in your bank account.”
She advises preparing now for next Christmas. “Once January 2025 comes around, start saving a little each month for your Christmas expenses,” she says.
“Also remember that a lot of Black Friday sales start in mid-November. Planning ahead for Christmas 2025 will help you jump on these deals early.
One couple ended up with $20,000 in debt across multiple credit cards after spending on their home.
Supermarket giant Walmart recently came under fire from an unhappy customer after funds were withheld from her card.