ive had my capital one credit card for a little less than two month now, it has a very high APR, a 19.8%, and i was wondering if i should call and ask if they could lower the rate...well should I?
I owe 240$ on the card, and have mad a couple of payments already...do you think theyll lower it?
2006-08-07 20:58:12 · 3 answers · asked by Fast Runner 2 in Business & Finance ➔ Credit
You are paying a high rate because you have bad/no credit history. They will want you to establish a history with them before even considering lowering the rate. Usually 6 months.
It never hurts to call and try.
2006-08-08 08:18:37 · answer #1 · answered by Anonymous · 1⤊ 0⤋
6 months is usually the minimum. But you have a better chance of getting a better rate by going somewhere else. Take advantage of the lower introductory offers. You don't have to stay with a company. Bounce around and find the best. Capitol One isn't the cream of the crop.
Good Luck
2006-08-08 04:08:23 · answer #2 · answered by Jon H 5 · 0⤊ 0⤋
Why is the rate so high? Is your credit rating bad?
If not, consider transferring the balance to a lower rate. Alot of cards even have a 0% interest on balance transfers for a certian period of time.
2006-08-08 12:10:54 · answer #3 · answered by Hot Pants 5 · 0⤊ 0⤋