Funny conversation with a bank rep

[RetiredAt63]

I just had a call from a bank rep (this is Canada, only a few big banks, not a lot of small ones) who was happy to tell me I am approved for their AMEX gold card- I think the limit was $10,000.  I told him I wasn't interested, didn't need it.  He continued to extoll its virtues, and I continued to say I didn't need it.  His final hope was the lure that I could transfer, to a lower interest rate, my present credit card balance.  When I told him I had no balance on my present credit card, he told me he was happy for me and gave up.  ;-)

I am sure most people they call are happy to jump at the opportunity. 

Anyone else have financial stories where your response is totally not what the caller is expecting?

[TreeTired]

That must be illegal in the United States.  The only reason I think it is illegal is because I have never received a phone call with a credit card offer while I receive a constant stream of such offers in the mail.  If it were legal, I think I would be getting lots of calls.   Most of my calls are for vacations that I have won in contests I never entered.

[RetiredAt63]

I get those too.  Its bad enough in some areas that I have had friends who screen all their calls - you get routed to an answering machine, they listen, and will pick up if it is a legitimate call.  A funny - when my DD was little, I was trying t teach her the pitfalls of the world - I got an offer for a free synthetic diamond - of course they wanted to sell me all the settings for my "free" jewel.  I turned it all down, and got my fake diamond in the mail, in a little black velvet pouch.  That was another time when you could just hear the frustration in the caller's voice.

This is a bank I have had dealings with, and I also occasionally get these calls from my main bank.  This may be why they can phone, the others do not.  Otherwise, yes, from my mail I could easily have 10 cards.  Plus the ones from the grocery store(IGA/President's Choice), Canadian Tire, and so on.

[TrMama]

My response to all these types of calls is to say, "Please take my name off your call list." Within a couple months, the calls virtually stopped. I think there's some sort of No Call list in the US that replicates this strategy.

The best is when it's some local charity calling to raise money and you can tell from the caller's response that they're just calling all the numbers in the phone book and there is no "list".

[cbgg]

That's awesome.

I had a similar experience where they were trying to sell me some sort of insurance on my credit card, that would save me from having to make payments if I was on short term disability.  I politely refused and when he continued with a line that was something to the effect of, "yes, but have you thought about how you'd made your payment if you were unable to work," I asked if he'd looked at my card.  I had accidently slightly overpaid my card on my last bill.  His response was, "oh...we owe you money.  Alright then, nevermind." 

I thought it was kind of funny.  Fine if you want to create some sort of stupid insurance product to sell to sucker credit card customers, but at least screen the people you are trying to sell it to."

[Thespoof]

A year ago when I was still in bankruptcy I used to let these guys yammer on endlessly to try and sell me their form of credit and at the end of their blabbering I'd inform them that I was bankrupt. I always got a kick out of their stammering reaction. Too much time on my hands back then lol

[Eggman111]

That reminds me of earlier this week. I was disgusted with a mail offer for an alumni card from the University of Alberta (I'm also in Canada). The main point of it was that I could transfer my balance for 0% for the first 10 months, and it showed me how much money I could save. Of course, I don't have a balance, so no thanks! But I know that's not true of everyone, so that must work.

The credit card itself has no purpose to me anyway. There are no rewards, and all they say is that some amount is donated to the alumni association. They don't even say how much is donated. They could technically give $1 per year and not be lying.

I definitely ask to be put on the do not call list. It seems to help over time. I have to find a way to get off mailing lists, too.

[lifejoy]

That's awesome.

I had a similar experience where they were trying to sell me some sort of insurance on my credit card, that would save me from having to make payments if I was on short term disability.  I politely refused and when he continued with a line that was something to the effect of, "yes, but have you thought about how you'd made your payment if you were unable to work," I asked if he'd looked at my card.  I had accidently slightly overpaid my card on my last bill.  His response was, "oh...we owe you money.  Alright then, nevermind." 

I thought it was kind of funny.  Fine if you want to create some sort of stupid insurance product to sell to sucker credit card customers, but at least screen the people you are trying to sell it to."

Ha! They ask me this one often! I feel so bad when I stop their spiel, and I usually have to emphasize at least twice that I'm just not interested!!

[MayDay]

We don't get a ton of telemarketing calls, but when we do (or when we get ones from random charities that we are in no way connected to and have no intention to support) DH always tells them he is unemployed.  That cuts their spiel short, they mumble something awkward and embarrassed, and they hang up.  He started doing it when he was actually unemployed, but it worked so well that he has kept it up.  I think he told his alumni association enough times that they gave up on him and stopped calling. 

[Breaker]

To Eggman111 and anyone else who is interested. 

When you get offers for credit cards in the mail, open them and call the number they give you to activate the card.  Then tell them that you want them to take you off of their mailing list.  That has worked for me.  It takes 2 or 3 months to be fully activated but eventually you stop receiving offers in the mail.  Think of what this may do for the environment and your recycle bin.

Jan

[KS]

To Eggman111 and anyone else who is interested. 

When you get offers for credit cards in the mail, open them and call the number they give you to activate the card.  Then tell them that you want them to take you off of their mailing list.

Jan

I may have to add this to my list of small projects, thanks for the info! Our shredder gets too much exercise... Southwest Airlines is the worst offender for us, since my husband and I are both in their basic rapid rewards program so we each get about 2 offers a month to get the Southwest card. Plus assorted other offers that come in out of the blue, it adds up to a lot of wasted trees.

As to conversations with financial reps, I've been (finally) consolidating all my old 401k plans into one rollover IRA at Vanguard and the response from the losing institutions has been pretty informative. Yesterday I called the one holdout that actually requires physical paperwork just to find out where to send it, and got treated to a sales spiel about certain fees they would waive if I kept it there... nevermind the fact that even with those fees removed (and for how long he did not say), the expense ratio would still be at least 10x what I'll be paying for the equivalent fund at Vanguard. Over the life of the account, that's going to mean a substantial chunk of change!

[WalkingWisp]

To Eggman111 and anyone else who is interested. 

When you get offers for credit cards in the mail, open them and call the number they give you to activate the card.  Then tell them that you want them to take you off of their mailing list.  That has worked for me.  It takes 2 or 3 months to be fully activated but eventually you stop receiving offers in the mail.  Think of what this may do for the environment and your recycle bin.

Jan

Woah, Jan, thank you soo much for this tip.  I've been wondering for a long time on how to stop all BS credit card offers my wife and I get in the mail.  We probably get 5-6 a week.  I will absolutely put in the time and effort to stop this for the long haul.  Hope it works!!

[Spork]

My response to all these types of calls is to say, "Please take my name off your call list." Within a couple months, the calls virtually stopped. I think there's some sort of No Call list in the US that replicates this strategy.

The best is when it's some local charity calling to raise money and you can tell from the caller's response that they're just calling all the numbers in the phone book and there is no "list".

There is.... and it only works as far as businesses use it.  Most of the boiler-room cold-calling places are a little on the stinky side to begin with.  The really bad ones seem to use VOIP and forge their caller id.

[soccerluvof4]

^+1 especially those brokerage firms. Those guys are relentless. They all but insult you no matter how nice you are if you accept there call and say not interested. "What you dont like making money" blah blah blah.


Never get the credit Card Calls but sure to get one or 2 a week in the mail and all sorts of other loans I am so gifted to be able to take.

NO THANKS!

[Rural]

^+1 especially those brokerage firms. Those guys are relentless. They all but insult you no matter how nice you are if you accept there call and say not interested. "What you dont like making money" blah blah blah.

There's this little button on the phone. Turns it off.

[Spork]

^+1 especially those brokerage firms. Those guys are relentless. They all but insult you no matter how nice you are if you accept there call and say not interested. "What you dont like making money" blah blah blah.

There's this little button on the phone. Turns it off.

Unless it's a politician.  ;)

Little known fact:  political calls don't disconnect when you hang up.  I'm just waiting for the day that someone needs to dial 911 and can't because some woodenheaded politician is expounding on how he/she will improve your life.

[Rural]

^+1 especially those brokerage firms. Those guys are relentless. They all but insult you no matter how nice you are if you accept there call and say not interested. "What you dont like making money" blah blah blah.

There's this little button on the phone. Turns it off.

Unless it's a politician.  ;)

Little known fact:  political calls don't disconnect when you hang up.  I'm just waiting for the day that someone needs to dial 911 and can't because some woodenheaded politician is expounding on how he/she will improve your life.

Really? How's that work? Landline only, I assume. In which case one could unplug the thing from the wall, then plug it back up to call 911. If one weren't panicked over the emergency, that is. :-)

Anyway, as long as the 911 emergency waits little while, it still seems kind of gratifying to leave the politician talking to himself. Or herself.

[Spork]

^+1 especially those brokerage firms. Those guys are relentless. They all but insult you no matter how nice you are if you accept there call and say not interested. "What you dont like making money" blah blah blah.

There's this little button on the phone. Turns it off.

Unless it's a politician.  ;)

Little known fact:  political calls don't disconnect when you hang up.  I'm just waiting for the day that someone needs to dial 911 and can't because some woodenheaded politician is expounding on how he/she will improve your life.

Really? How's that work? Landline only, I assume. In which case one could unplug the thing from the wall, then plug it back up to call 911. If one weren't panicked over the emergency, that is. :-)

Anyway, as long as the 911 emergency waits little while, it still seems kind of gratifying to leave the politician talking to himself. Or herself.

It's been a while since I worked in telco... and it may have changed by now... but it holds the line open until the call is done.  It's one of those things that you can only arrange if you're the one making the rules.

[Eggman111]

To Eggman111 and anyone else who is interested. 

When you get offers for credit cards in the mail, open them and call the number they give you to activate the card.  Then tell them that you want them to take you off of their mailing list.  That has worked for me.  It takes 2 or 3 months to be fully activated but eventually you stop receiving offers in the mail.  Think of what this may do for the environment and your recycle bin.

Jan

Great idea, thanks! I will try that next time.

[galliver]

Sounds like this would help a lot of people... https://www.consumer.ftc.gov/articles/0148-prescreened-credit-and-insurance-offers Much faster than calling each company.

Didn't stop the airline credit card offers (since I have #'s with all of them), but all the random ones stopped.

[exranger06]

Sounds like this would help a lot of people... https://www.consumer.ftc.gov/articles/0148-prescreened-credit-and-insurance-offers Much faster than calling each company.

Didn't stop the airline credit card offers (since I have #'s with all of them), but all the random ones stopped.

I did that and it stopped all credit card offers I was getting, except for Discover card. I eventually got fed up and called the number on the offer and told them to take me off the mailing list. I think I received one more after that (takes a while for it to go into effect) but I haven't received any more.

My credit card company keeps sending me those stupid "convenience checks" that have ridiculous fees and interest. Like I'm stupid enough to use them. I called them and told them to stop sending me those too. They just mailed me some more yesterday >:( I guess it hasn't gone into effect yet.

[Ms. Peachfuzz]

That reminds me of earlier this week. I was disgusted with a mail offer for an alumni card from the University of Alberta (I'm also in Canada). The main point of it was that I could transfer my balance for 0% for the first 10 months, and it showed me how much money I could save. Of course, I don't have a balance, so no thanks! But I know that's not true of everyone, so that must work.

The credit card itself has no purpose to me anyway. There are no rewards, and all they say is that some amount is donated to the alumni association. They don't even say how much is donated. They could technically give $1 per year and not be lying.

Ugh, the Alumni Association at the U of A is terrible. That is the worst deal on a credit card I've ever seen, at least the new anti-spam laws coming into effect this year should curtail some of their nonsense.

[sleepyguy]

Haha, yeah I get those call all the time.  Our credit is pretty good.  I'm Canadian as well and I do take advantage of the 0% MBNA cards they offer.  I think I'm at 30k'ish credit now on it.  I transfer the entire amount (1% fee, or $300)... then pay back the minimum per month.  Once the 15mths is up, pay the 30k back.  Obviously there is some risk if the market tanks but I'll take those odds.  Considering markets did very well last year I came out nicely ahead.  Something to check out.

[ketchup]

I did that and it stopped all credit card offers I was getting, except for Discover card. I eventually got fed up and called the number on the offer and told them to take me off the mailing list. I think I received one more after that (takes a while for it to go into effect) but I haven't received any more.

Discover loooves to shower everyone I live with with offers.  My favorite part was when I actually got their card and still got offers for that exact card for months.