Denied margin interest rate reduction on a six figure account with a long history of profitability, possible next steps?
So I just finished a call with E*TRADE about reducing my margin interest rate because I am looking use a lot of margin to leverage my portfolio, and was denied as well as being told that it is not something they're doing right now at all. I explained that I would be leaving etrade if I do not get a lower rate, and was apologize to but reassured that there is no way to get the rate lowered. I understand I am not a mega millionaire customer, but my account is still a solid six figure account and I have been trading and investing profitably with etrade for over six years. Has anyone had this same experience? If so, did you call back and have a better result after trying more than once? I am very comfortable with etrade but now that I am beginning to go deeper into margin the astronomically high rates are just untenable, I wont pay tens of thousands of dollars just for the convenience of not learning new software and doing an account transfer