Katherine Says...
|
Honestly - at 28% you are pretty much considered high risk. Credit card companies don't typically raise you so high if it was only a *few* late payments. You've been naughty with your credit, and we both know it.
Transfer your balance to a promotional rate card. Research who has the longest - 0% for 6 months isn't as good at 1.9% for a year. Pay the account on time or you will lose your promotion, but heck, even a new card won't charge you 28% so it's still a deal for you.
Pull a copy of your bureau and take a good look at it. Close any unused cards, lower credit limits wherever possible and make consistent, sizable payments. (At least double, triple the minimum payment) A good FICO is what will make banks take you seriously and not give you crappy rates. |
|
Me Who
|
You probably wont be able to lower it. I'm sure there is some type of clause stating that if you are late on payments that your interest rate will go up. The only thing you will be able to do is apply for another credit card with a 0% interest for 6 months to a year. |
|
amaya7
 |
You usually can't lower it once it has jumped like that. I would pay it off and close it or do a balance transfer onto a card with a lower interest rate. |
|
dardar
 |
Capitol One is the worst credit card company. I had a run in with them years ago. I vow never to own one of their cards again. They wont lower the rate for anything. I even consolidated my cards about 10 years ago, the other 3 companies all waived the late charges and lowered the interest rate or the balance to settle. Capitol One would not do anything to help me out. They SUCK! |
|
physco
 |
The best thing for you to do is find another card(Visa,MasterCard) with a low interest rate and apply ,then pay off the one with the high interest rate. |
|
In God We Trust
|
There are new credit rules that allow them to keep you at the higher rate until you pay off the card. You only have to be in arrears one time and then they have you. Remember this, What shall we then say to these things? If God be for us, who can be against us? - Romans 8:31. Peace and God Bless. |
|
ta'an
|
You can actually call the company and ask a rep if they can lower the APR. Especially if you have been paying on time consecutively. I recently did this and while it was only lowered by 2% that's still a way to save...I would say call every 6 months. |
|
elitesouthwest
|
Call them and threaten to close the account |
|
Buzzy
|
Pay it off as fast as possible and switch companies, but do not cancel Cap. credit card! |
|
Tricia3
|
Call customer service and point out your timely payments, it's between whoever you speak to and yourself to adjust that rate. If not consider transferring to a 0% intro fee card for a year and try to pay off the debt in full. This will enhance your credit rating a lot over a year. |
|
cassandramlndz
|
make your payments on time. |
|
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
