Waine
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yes
see the FAQ on the first link down but really there's plenty of advice throughout if you have time to read:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!
if it helps please remember me cheers |
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~*Stephanie S
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YES, yes, yes! Call your customer service and tell them that you've received an offer from American Express/Visa/Discover offering you 7.99% interest and, although you'd like to keep your business with their company, the much lower interest rate you'd receive by switching is tempting. Flat-out ask them to lower it. If the person you're speaking with says that they don't have that kind of authority, ask to speak to their supervisor. People could save hundreds of dollars a year in interest charges if they would just make the simple phone call! |
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~life sucks~
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Yes, you can and yes I have. Call them and tell them you have another credit card offer from another company and they are offering me ?%. Tell them you really would like to stay with the same credit card company but if they cant beat the newly offered interest rate, you will have to consider transferring your balances to the new offer and close the existing account. Ofcourse its a lie, but they dont know that. But, if you've ever been late or over the limit, dont count on miracles. Good luck! |
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Valkanas
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Yes, provided that you have no late payments and an established history, most credit card companies do have programs in place to lower your interest rate. A high credit score will also help you lower your rates.
Good luck. |
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hushnowjustplayit
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You can try... the better your credit rating is and the higher your income bracket the better you will be able to negotiate for what you want as your interest rate. |
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nuovoterra
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You can negotiate the interest rate if you've made no late payments for a certain amount of time. Different cards vary on their "time" - from six months to two years of no late payments....
... amazingly, more often than not, if you call and just ask for a lower payment - they do give it to you. So just try. |
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Bambi slayer
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If you have a high rate and always pay on time/not always maxed out, maybe. I had a card that jumped to 30% for no reason and after I called it dropped back to 10.5% If you have bad credit or one or both of the above then no. |
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sophieb
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I think it depends on how much money you have in the bank and how much you earn currently, and how many assets you own, that you get the credit limit and the appropriate low interest rate. There is no negotiating it on your part. "They" make the decisions.
Now if you're in trouble and can't pay then the credit card company will remove the interest charged and overdraft fees and will allow you to make a payment in one lump paying off the debt but then they will not allow you to open any other credit card ever again with their bank or company. How do they know it's you if you return to open another account? They know you by your social security number. |
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XR
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As long as you have paid on time for a while and keep well below the credit limit (you can also ask for an increased limit) you can usually get a lower interest rate.
If you barely use your card they may consider giving you a very low promotional rate to get you to use your card more. Just make sure you continue to pay on time, because they'll put your interest rate back up if you don't. Also, if you want to avoid the non-promotional interest rate, be sure you pay off the balance before the promotional period ends. |
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royale
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Yes, once you have established a good credit standing with the CC company you can negotiate the interest rate. Threatening them that you are about to transfer your balance to another company with a more desirable rate usually works in your favor.
Royce |
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Matthew w
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I was able to negotiate the interest rate on my car loan so I would imagine its possible if you but forth the effort |
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bizona
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I have. All I had to do was tell them to close the account and they lowered my rate after telling me they absolutely could not do it. Another great tactic is to tell them to close the account and you'll just use the card you have from such and such a bank. |
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stopccdebt
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Yes. I have been able to get interest rate reductions every few months. I had old college credit card debt that had higher rates, and I wanted to pay it down faster.
A few months ago, I documented the steps that I took. I hope they work for you. This way, you can do it all on your own without outside help. |
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Scooby
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yeah you can, and if they don't switch over to another card |
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GoneByDawn
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Yes, they will. Call customer service and ask them to do that for you. If you have a good record of on time payments, it can be lowered a great deal, it you have a few late payments the key is to ask and then get a supervisor on the phone. Ask the supervisor for a lower rate still. I have has a 21% lowered to 16% lowered to 12%. It can be done just be very persistent. |
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billm_07456
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Call up your credit card co. and tell them you got a recent offer for a much lower interest rate and ask your co. if they could give you a similar deal, otherwise you will cancel your credit card and go with the other co.
It may or may not work, but worth the try. |
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newyorkgal71
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Call your credit card companies and see what they can do for you. |
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ekinevel
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Absolutely. But it's usually easier if you have it all paid off. Then you can call them and tell them you want to cancel or that you're going to sign up with a different bank if they don't lower your interest rate. |
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Jeremy D
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You can. Even if they don't want to, investigate refinancing with a loan or new card at a lower rate. |
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Chris B
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If you have a good pay history you can call the credit card company and explain that you deserve a lower rate for being a good customer who pays on time. I went from a 21.9 to a 11.9 on by Bank of America Platinum |
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Wondering myself
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Yes, point out the following to the creditors when negotiating:
1) your good payment history
2) how long you've been during business with them
3) what the competitions out there do offer -- such as0% teaser rate. |
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words_smith_4u
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Yes. If you have more than one card, you can leverage one card against another. Do this...
Call company #1 and tell them that you're canceling the account. They will ask why. Tell them that company #2 has an interest rate of (something less than #1). Chances are (if you're a good customer) they will "see what we can do to match".
If not, then walk. Go to company #2 until you get a deal from #3... |
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2hot
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Depends on how good your credit is. Most banks offer a lower interest rate card for their normal customers. I think it's around 10 percent, more of less. If the card is from a department store, good luck. Their rates are fixed and very high. They sucker you in with value points, airmiles, etc. Most people carry some kind of balance which more than covers the little perks they give. Stay to the bank cards and ask for their lowest interest rate. Compare different bank rates also. Even a difference of one or two percent points can mean alot of money over a year or two. |
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dominosnate17
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not outstanding balances but you can call the credit card companies to negotiate a low rate on a balance transfer. |
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snoogans
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yes |
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