Lowering Credit Card Interest Rates
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Posted: Sun Jan 09, 2005 12:40 pm
Post subject: Lowering Credit Card Interest Rates
Johanthan Mansell
Date: 10/1/2000 8:04 pm CDT
I requested a master card at 4.9% interest rate which was offered if
I transerred the balances from my other cards to theirs. I had a $6,000.00
credit limit. I was getting my account paid down till they went up to
18.80%. Now I make a payment and my balance goes up. What can I do? I have
written them asking them to lower my rate and they won't. I had a bankruptcy
5 years ago and don't think I can get a good credit card with a fixed
interest rate. I am having a difficult time paying this, knowing the balance
will never go down. I don't want my credit to go bad all over again, I have
been working to hard to clear it up.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Sun Jan 09, 2005 12:40 pm
Post subject: Lowering Credit Card Interest Rates
Board Monitor - AD
Date: 10/2/2000 0:22 am CDT
Johanthan,
There are several things you could try to get a lower rate:
1) If you have other credit cards, then you might want to give them a call to see if they have any lower rate offers available for balance transfers.
2) If your current credit card is a standard card, see if you can upgrade it to gold or platinum for a lower interest rate (if possible).
3) Though you may have a damaged credit report, you may still be able to obtain another credit card with a lower rate, consider applying for a pre-approved offer if you've recently received one by mail.
4) I would suggest you go through "Credit Card Facts" in Credit Card Freedom (http://www.creditcardfreedom.com) - there you'll find some useful tips in lowering your interest rates!
Sincerely,
Alex Daskaloff
http://www.creditcardfreedom.com
archive
Posted: Sun Jan 09, 2005 12:41 pm
Post subject: Lowering Credit Card Interest Rates
Eugene Skorodinsky
Date: 10/2/2000 1:51 am CDT
Jonathan, if you got a balance transfer offer before and you were able to take it, at least some creditors probably did not view you past bankruptcy as too much risk then. And if you "have been working hard to clean it up" ever since, it should be even easier to transfer balance now. Shop around, I don't think it's as bad as you seem to think.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Sun Jan 09, 2005 12:41 pm
Post subject: Lowering Credit Card Interest Rates
tim
Date: 10/2/2000 6:43 pm CDT
Apply directly to your credit union or local bank.
Also try increasing your monthly payment to as much as you can afford.
If all else fails get a secured card if you must have one and stop using your 18.80% card.Better yet don't buy anything other than necessities for the next year. That is the secret to credit relief; adjust your lifestyle...
Posted: Sun Jan 09, 2005 12:40 pm
Post subject: Lowering Credit Card Interest Rates
Johanthan Mansell
Date: 10/1/2000 8:04 pm CDT
I requested a master card at 4.9% interest rate which was offered if
I transerred the balances from my other cards to theirs. I had a $6,000.00
credit limit. I was getting my account paid down till they went up to
18.80%. Now I make a payment and my balance goes up. What can I do? I have
written them asking them to lower my rate and they won't. I had a bankruptcy
5 years ago and don't think I can get a good credit card with a fixed
interest rate. I am having a difficult time paying this, knowing the balance
will never go down. I don't want my credit to go bad all over again, I have
been working to hard to clear it up.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Sun Jan 09, 2005 12:40 pm
Post subject: Lowering Credit Card Interest Rates
Board Monitor - AD
Date: 10/2/2000 0:22 am CDT
Johanthan,
There are several things you could try to get a lower rate:
1) If you have other credit cards, then you might want to give them a call to see if they have any lower rate offers available for balance transfers.
2) If your current credit card is a standard card, see if you can upgrade it to gold or platinum for a lower interest rate (if possible).
3) Though you may have a damaged credit report, you may still be able to obtain another credit card with a lower rate, consider applying for a pre-approved offer if you've recently received one by mail.
4) I would suggest you go through "Credit Card Facts" in Credit Card Freedom (http://www.creditcardfreedom.com) - there you'll find some useful tips in lowering your interest rates!
Sincerely,
Alex Daskaloff
http://www.creditcardfreedom.com
archive
Posted: Sun Jan 09, 2005 12:41 pm
Post subject: Lowering Credit Card Interest Rates
Eugene Skorodinsky
Date: 10/2/2000 1:51 am CDT
Jonathan, if you got a balance transfer offer before and you were able to take it, at least some creditors probably did not view you past bankruptcy as too much risk then. And if you "have been working hard to clean it up" ever since, it should be even easier to transfer balance now. Shop around, I don't think it's as bad as you seem to think.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Sun Jan 09, 2005 12:41 pm
Post subject: Lowering Credit Card Interest Rates
tim
Date: 10/2/2000 6:43 pm CDT
Apply directly to your credit union or local bank.
Also try increasing your monthly payment to as much as you can afford.
If all else fails get a secured card if you must have one and stop using your 18.80% card.Better yet don't buy anything other than necessities for the next year. That is the secret to credit relief; adjust your lifestyle...
posted by CardRatings.com at 11:35 AM
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