Sunday, January 20, 2008
Want A Lower Interest Rate?
Did you know that you can often haggle with your creditors over your interest rate charges? It's true! Remember that credit card companies want your business so you are definitely in control. If you are not happy with your interest rate simply call your creditor and ask for it to be lowered. Now here's the trick. You have to give them the impression that if they don't lower the interest rate that you're going to move the balance on that credit card to another credit card with a lower interest rate. They don't want you to take your balance to another credit card company so very often they will work with you on lowering interest rates. Be firm and don't be afraid to ask for what you want. You might be surprised what you can accomplish!
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3 comments:
Hi,
Can you please tell me what credit cards you recommend to transfer your balance for a low interest rate?
Thanks so much!
Hi there and thanks for the question. This is a tricky thing for a lot of people because the truth is there isn't one particular credit card company (at least not that I know of) that always has a lower interest rate. Interest rates are given not based on which credit card company you go with but by the person who is applying for the credit. It all has to do with your credit score. The lower your credit score is the less likely your chances are of getting a low interest credit card. This is something that we all have to work at though. The way to build up your credit score is by paying everything on time and also it's a good idea to pay more than the minimum amount due. This is helpful for your credit score even if it's just a few dollars over the minimum. By doing this it shows the credit card companies that you aren't just skimming by, but rather you are trying to get ahead. Let me know if you have any other questions. I'm always happy to share what I know. I might not always have the right or perfect answer but I'm learning more every day so it never hurts to ask! Good luck to you.
Thanks Kaylee.
I really thought you could transfer your balance to another card without any issues...I didn't know they base it on your score..to transfer your balance...
Thanks for keeping me informed.
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