How do I get a lower interest rate on my credit card account?

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Post subject: How to lower high credit card interest rates?

Jenny Owens
Date: 1/26/2001 12:12 am CDT

> I was wondering if you could help me.
>
> I went through a bankrupcy in 1994 because of divorce. My husband left
> unexpectedly and I was on disability and no job and you can guess what
> happened. I had acquired a secured credit card and did well with it,
> although it had a small limit. I just recently received an unsecured card
> from them along with one I applied for. The problem is the interest rate.
> How can someone like myself get a card that doesn't rape you and allow you
> to be an honest citizen getting on her feet?
>
> Thank you for your time

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Ira Stoller
Date: 1/26/2001 2:37 pm CDT

This may not be what you want to hear, but one way to deal with high interest rates is to pay off your balance in full every month and not charge more than you can pay each month. If you work it that way it doesn't matter what the interest rate is, since you won't incur any finance charges whatsoever. I have one card with a 22.9% interest rate. Since I pay it off every month, they can raise the rate to 30% for all I care.

That being said, I realize that "situations" occur which are beyond our control. The way to gain access to cards with lower rates is to continue to build your credit standing. The longer your history of paying on time and staying within your means, the faster you'll be recognized as a good risk person.

As I said, this might not be what you wanted to hear, but so far as I know it's reality

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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