Credit Tips: Lower Credit Card APR

Posted On: April 1, 2006

Author: markus4373
Posted: Sat Oct 01, 2005 11:36 am
Post subject: Lower APR

I have a citibank card and made a leate payment by 5 days and they raised my intr. rate form 9.9 to 30.42 crazy

Any suggstions to lowert it back to a reasonable rate

Author: JaneiR36
Posted: Sat Oct 01, 2005 3:21 pm
Post subject:

Call them and beg. How long have you had the card? Have you been a dependable customer? Especially if part of it was their fault, I would play that angle, too. If none of that works, apply for a new 0% card and transfer your balance (better interest rate, anyway). Or you could try telling Citi that you got such a card and are considering transferring out your balance, and would they lower it back down? I hear it works.

Author: Polonius
Posted: Sat Oct 01, 2005 6:18 pm
Post subject:

You don’t have to beg. Just say it was an oversight, you’re sorry, and could they please put the rate back? In my experience, that’s all it takes–and you might even get the late fee credited back too.

I don’t think that will happen more than two or three times each year, though. But the first time? No problem.

Author: Debt Free Training
Posted: Sat Oct 01, 2005 9:34 pm
Post subject:

I agree with the other postings. But be aware there is an issue which is probably in your contract called Universal Default which basically says if you are late on ANY payment even other than your credit card (mortgage, car, dentist… anything) and it is reported, the company can consider you a risk and raise your rates.
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