I just got an e-mail from Capital One, telling me that they would like to upgrade my credit card somehow. Did I want more rewards points? Did I want to improve my card features (whatever they are)? Or - hey, how about this? - did I want a lower interest rate?
Well, yes, that last one appeals. We have two balances on that card, one called a "purchase" and one called a "balance transfer." The larger balance is on the smaller interest rate. Neither interest rate is bad at all, it's just that it's debt, you know? Debt = bad. Anyway, I called them and the nice man who helped me said he couldn't do anything about the balance transfer part of it, but he'd drop the interest rate on the purchase part of the balance to zero for 6 months - and after that, it would go back up just where it was, no worse. I asked how much they would charge for this, figuring there was a catch, and he said no cost.
We just transferred a balance from an expensive card to a couple of cheaper ones, and I'm sure that set off alarm bells on our credit report - they don't like it when you do that - so that's what I figure triggered the offer. At any rate (get it? at any rate? I slay me), we're taking advantage of it.
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