shrugger
|
the worst they can say is no. I would encourage you to ask and if they say no ask them what you need to do to lower your APR. If they say nothing, there are other credit cards that you can apply for and transfer the balance usually with some perks like 0% interest for a few monthes and have a lower APR. If you don't want to transfer your balance, get approved for another card and call your credit card company and tell them that you found a lower rate and give them a chance to beat it. Trust me, they want your money. They'll play ball if you play to win. |
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C C
|
You can always try. It worked on my credit card company. I requested a lower rate for two of the cards. If they say no you could always tell them you are going to close your account.
Act like you are and tell them you will be sending in your full payment and want your account close because you rate is to high and see how fast they try to get it reduced. |
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cookie2652
 |
Yes! I did and they dropped it by almost 6%! Just call...the worst they can say is no. |
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Beckaru7
 |
YES! And i've done it. Don't be afraid to ask. If your credit worthiness is in good standing you should have no trouble. If however you ask your current card holder to lower your apr and they refuse, ask for a manager. If your turned down find out why. Also, shop around for a lower rate card. Careful though, too many inquiries on a credit report may not go over well with future creditors. |
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stonesthrowschool
|
Absolutely! Just ask nicely--don't threaten! If you've a consistent record of paying on time many cards will lower rate. If they lower it once, call back in 3-4 months and try again! Seriously! As long as you're a customer in good standing most companies want to keep you using their card.
If a company refuses to negotiate the APR then transfer balance if you qualify for good deal elsewhere.
Hope that helps! |
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Laredo
|
I asked mine to reduce the APR and they checked my payment record. I had not been late with one payment and they were glad to reduce the interest rate.
If a person has bad credit or a late payment history, they aren't likely to get it reduced. Those people are the reason interest rates are too high to begin with. Some credit card companies don't mind reducing the rate for their good customers.
My bank credit card already has a lower interest rates because I have enough in automatic deposits each month to pay off the charges when the bill comes in.
It doesn't hurt to ask for an interest rate reduction. |
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shesthemom
|
yes you may ask and yes they will do it one time a year they will run credit report then they will tell you what your new rate is we do it every year have got cards down to 7.9 if you have been with the comp. at least a year call ask them it is your credit |
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?
 |
You need an XLNT payment history,
but yes, you can negotiate a new APR.
I have done it twice and got very nice
deals. I did stretch the truth tho and
told them I was thinking of changing to
____________?
Always tell the phone operator that
you want to speak to a supervisor who
has authority to lower your APR. |
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******
|
Absolutely, they do. You have to ask to it; they're not going to throw away revenue by doing it automatically. If not - cancel it and set up a card with a new bank. I wouldn't do that more than every 6 months if you are concerned with your credit score. |
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mama2jandh
|
There's nothing wrong with finding another company who will give you a better APR, but DO NOT CANCEL THE OLD CREDIT CARD! This will have a negative impact on your credit score. |
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Web G
 |
Yes, I've done that in the past. What you can do is tell them you were just preapproved for a credit card with a lower interest rate, and you would like to see if they can match interest rates, or you're thinking of doing a balance transfer. Worked for me in the past....
Good luck... |
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LindsayLohan
|
yes but they will rerun credit |
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?
|
If you are close to your limit, or paying just the minimum payments, most of them won't - they don't think you have the ability to go anywhere else. Also - some just won't do it at all.
What's in your wallet??? Make sure it's not that one! Also, most of them have that "default clause" - if you are late on their card (or even on any other payments you make) they can change your APR to the highest rate allowable by law - some are at 27 - 30%.
Also, the rate they gave you at the start - read the fine print - they reserved the right to raise your rate at any time for any reason. |
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bob shark
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Of Course, But they won't do it, Why don't you keeps your payments up to date and then it doesn't matter what the rate is. |
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cesc
 |
They will never do that ... APRs are set by the bank and given to you in writing when you open an account. They are NOT negotiable. Different credit cards have different APRs, so all you can do is cancell the account you have now and open another one with a better APR. |
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Chrys
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you can ask...doesn't mean they'll do it |
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