How Do You Get Interest Rates On Credit Cards Lowered?

10 Responses to “How Do You Get Interest Rates On Credit Cards Lowered?”

1. brady ewart Says:
   

   Credit card balance transfer is a process by which we can transfer our outstanding balances on a credit card (which are generally at high interest rates) to a low interest rate credit card.
   Balance transfer has some good advantages let us look at a few of them.
   Balance transfer is one of the best methods to get rid of that credit card debt. When you transfer balances all your outstanding balances are wiped out and transferred to new credit card.
   Depending on what deal you get on the balance transfers the new interest rates on transferred balances could be 0% or a low rate for a particular period. The ideal situation should be to get all the balances cleared within this low interest rate period.
   The repayment terms will also relax considerably as you transfer your balances.
   Credit card companies bundle a lot of exiting features with the balance transfer program, this could be a no annual fee offer and your favorite reward program. Read more from: http://www.credit-card-gallery.com/artic…

2. dmgoldsb Says:
   

   Tell them you want to cancel your card, when they ask you why tell the interest rate is to high and you got a better deal somewhere else. Credit card companies don’t want to lose your business, they want you to be in debt to them so if you tell them you are going to cancel usually they will come up with a deal for you to stay.

3. adam k Says:
   

   Writing a letter always beats a phone call! Adress your letter to the president of the company (You don’t need his name just say ‘The presidents office’), tell him that you called his credit department on numerous occassions and couln’t get a satisfactory answer.
   Tell him that you sincerely want to clear up your debt with his company but inspite of your best efforts you are falling further behind. Tell him that presently your’re in a dead end situation and if he doesn’t meet you half way by giving you a serious break on the interest rate you’ll have to consider your options.If he doen’t cooperate you might look into sending his stuff back and consider your debt closed. (I don’t know how this would work)
   Your credit score is probably already low so you why not consider bankrupcy. You should read up on it on the internet so you’ll know what your options are and how to go about it. I

4. Stephanie C Says:
   

   You don’t have to actually do a balance transfer, just tell your credit card company that you’re going to when you call them. Also, I’m not sure how a balance transfer is a “trap” – I’m in the middle of doing one for my $1500 balance at 17% interest, and it’s going to save me about $125 for the six months that I won’t be charged interest. If I can manage to pay it all off during the 6 months, it will save me even more, not having to pay interest on that balance ever again.

5. Lewis S Says:
   

   How is a balance transfer a trap? A consolidation via balance transfer may be the better option. However, you may fare even better by paying off those credit cards with the equity in your home. That will save you a tremendous amount in finance charges. If you are not receiving offers, it’s probably because your credit scores are deteriorating.
   Lewis
   lstretch@mortgagestar.com

6. sexystic Says:
   

   ask them again.
   and again.
   until they work out a deal with you.

7. cbmttek Says:
   

   Believe me, the credit companies would rather get you to pay less interest then send the debt to a collector. I recommend that you continue to call the companies, and when you get a no answer, ask to talk to their supervisor.
   Explain to the supervisor that you are having trouble paying the card and ask what they can do to help. If the answer remains no, continue to pay the card as required, and try again in a month or two.
   Also, I highly recommend that you avoid the debt counseling places you see on TV. They take your money, and they do nothing that you cannot do yourself.

8. Marko@Best Mortgage Deals Says:
   

   When you are negotiating for anything you need to remain logical and cool-headed. Threatening company representatives will get you no where fast. You need to simply explain that you have has a better offer from another credit card company than ask what they can do to remain competitive. Many people will threaten bankruptcy to plead their financial hardship situation. But this is not the right approach because it only presents you as being a financial risk. Unless you are really danger of bankruptcy, do not threaten any negative actions just to get a lower interest rate.

9. People With Bad Credit Says:
   

   I really like following your blog as the articles are so easy to interpret and follow. Excellent. Please keep up the good work. Thanks.

10. Terrence Silberman Says:
    

    Thanks for A Nice Read!! I have heard Credit Score is definitely a great place to get my credit report

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