If not how can i get them lowerd? Contact me.
2006-06-14 08:03:50 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
A fixed rate, is just that. It will not go up or down, no matter what the national interest does. I have had a fixed rate credit card for 16 years now. Fixed at 9.9% and when the rates went down, mine remained at 9.9% and when the rates ent up, mine is still 9.9%.
Fixed Rate is exactly that. It is fixed. You sign a contract, and your rate changes, then the credit company is in violation of your contract.
2006-06-14 08:12:10 · answer #1 · answered by Anonymous · 5⤊ 0⤋
If you have really good credit and usually pay in full each month then it is often easy to get rates lowered since the credit card company knows they will never have to loan you money at the lower rate. Another situation is where your credit report shows you have a ton of money already and spend a lot each month but pay up regularly. This type customer can also get low rates although a rewards type credit card would be more beneficial if this was your situation.
2006-06-14 15:09:59 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Read the small print. Sometimes you get an introductory rate, or it will say may vary +- 9%, or based on the 'prime' interest rate or something like that. In my house we pay off balance every month. By taking a higher APR we get 5% cash back for purchases at grocery, gas, and drug businesses and 1% on all other purchases,interest rate doesn't matter. If you can't pay off each month, read the APR carefully. Make sure you get protection for purchases made if your card is stolen.
2006-06-14 15:13:01 · answer #3 · answered by doktordbel 5 · 0⤊ 0⤋
APR are predetermined by the credit issuer and the government. even though they say fixed, they can flucuate from time to time. I get letters all the time about how my APR is going to change and so forth. As far as getting them lowered, find another card and switch over.
2006-06-14 15:08:01 · answer #4 · answered by Thank You..Come Again 2 · 0⤊ 0⤋
Read the fine print. Some change after the introductory period. When trying to cancel my credit card, the company kept offering lower interest so that I would stay with them.
2006-06-14 15:08:59 · answer #5 · answered by eebrs 3 · 0⤊ 0⤋
You can transfer your balance to a lower card, or you could call the credit card company and renegotiate the ARM. You can also consolidate with a debt company and they will renegotiate for you. Good Luck
2006-06-14 15:07:11 · answer #6 · answered by noitall147 2 · 0⤊ 0⤋
No, they go up and down with the condition of the economy ,as manipulated by the Federal Reserve System of the U.S., in terms of interest rates.
2006-06-14 15:08:22 · answer #7 · answered by WC 7 · 0⤊ 0⤋
you can get a lower interest card and pay off your old one
but you can't get the interest lowered on an existing card
2006-06-14 23:08:04 · answer #8 · answered by Anonymous · 0⤊ 0⤋