If you happen to have a mailing address of any kind, personal or business, you are likely inundated with credit card applications weekly. Before long, I expect the credit companies will find out an efficient method to circumvent the mailing-address requirement so that they can also provide 0% Introductory APRs * to transients. For years I have thrown this snail-mail spam straight into the trash, developing an ability to even recognize stealth-offer envelopes, the kind with no obvious bank or credit references on the outside.
I've always had impeccable credit, using my sole credit card monthly for small purchases, and immediately paying the entire balance upon receiving my statement; using credit to build credit history. After about 4 years with CapitalOne (they don't get hyperlinked because I now hate them) on an introductory card with an atrocious rate -- which never came into play since I paid my balances in full -- I decided to ask for a better rate, even though I didn't need it.
The first call resulted in being transferred through 3 departments, finally landing in "Retentions". "Ooh!" I thought, they properly interpreted my statement of "I have offers every week from other companies that crush the offerings of my card through you, can you do better?" You never know if first-tier customer service will pick up on subtle hints like "please me or I'm leaving you." Retentions told me they'd "evaluate" my account, and respond by mail in about two weeks, and that I could call in to check the status of my review after a few days.
Being in no rush, I waited for word by mail. After a month, my patience was exhausted, so I called back. After another triple department transfer, I ended up with some blunt fellow who told me that there must have been some kind of miscommunication. He informed me that all rate reductions and limit increases are computed automatically, that no human makes those decisions, and that if I had not received an offer by mail from them, then there was nothing they could do for me.
Well CapitalOne, I can also do nothing for you in return.
I had saved my last few snail-mailed offers, thinking that a second card wouldn't hurt in case fraud or some other unfavorable action rendered one card unusable, an event likely to happen at the very time a functioning credit card is absolutely necessary. Sifting through the offers, I picked out a few new cards and began applying, which brings me to this post's title tie-in.
Every card offer envelope that I've opened by mistake, and the few that I saved and opened on purpose were for PLATINUM cards. Makes a person feel important, yeah? You're PLATINUM grade baby! A little research revealed this though: you generally can't actually get a platinum card unless you carry a large balance. See, platinum cards are generally just "gold" cards (not nearly as cool-sounding as PLATINUM!) with larger credit limits, so the card issuers don't see a point in giving you a high limit unless you've previously carried large balances, and have a good payment history. They want to make interest off you. I can't disagree with that, but damn it, I wanted my PLATINUM cards!
So, shiny new Bank of America gold card in hand, I shall continue my trend of providing absolutely zero interest-income to a new credit company. That is unless Discover actually decides to send me their PLATINUM card, in which case Discover can get my non-interest.
If they don't, I'm holding out until someone sends me an offer for a Rhodium Card.