2006-08-30 08:30:57 · 26 answers · asked by ng 1 in Business & Finance ➔ Personal Finance
yes
see the FAQ on the first link down but really there's plenty of advice throughout if you have time to read:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!
if it helps please remember me cheers
2006-08-30 12:32:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Depends on how good your credit is. Most banks offer a lower interest rate card for their normal customers. I think it's around 10 percent, more of less. If the card is from a department store, good luck. Their rates are fixed and very high. They sucker you in with value points, airmiles, etc. Most people carry some kind of balance which more than covers the little perks they give. Stay to the bank cards and ask for their lowest interest rate. Compare different bank rates also. Even a difference of one or two percent points can mean alot of money over a year or two.
2006-08-30 08:36:59 · answer #2 · answered by 2hot 3 · 0⤊ 0⤋
I think it depends on how much money you have in the bank and how much you earn currently, and how many assets you own, that you get the credit limit and the appropriate low interest rate. There is no negotiating it on your part. "They" make the decisions.
Now if you're in trouble and can't pay then the credit card company will remove the interest charged and overdraft fees and will allow you to make a payment in one lump paying off the debt but then they will not allow you to open any other credit card ever again with their bank or company. How do they know it's you if you return to open another account? They know you by your social security number.
2006-08-30 08:36:40 · answer #3 · answered by sophieb 7 · 0⤊ 0⤋
As long as you have paid on time for a while and keep well below the credit limit (you can also ask for an increased limit) you can usually get a lower interest rate.
If you barely use your card they may consider giving you a very low promotional rate to get you to use your card more. Just make sure you continue to pay on time, because they'll put your interest rate back up if you don't. Also, if you want to avoid the non-promotional interest rate, be sure you pay off the balance before the promotional period ends.
2006-08-30 08:36:55 · answer #4 · answered by XR 2 · 0⤊ 0⤋
Yes, once you have established a good credit standing with the CC company you can negotiate the interest rate. Threatening them that you are about to transfer your balance to another company with a more desirable rate usually works in your favor.
Royce
2006-08-30 08:35:15 · answer #5 · answered by royale 1 · 0⤊ 0⤋
Yes. If you have more than one card, you can leverage one card against another. Do this...
Call company #1 and tell them that you're canceling the account. They will ask why. Tell them that company #2 has an interest rate of (something less than #1). Chances are (if you're a good customer) they will "see what we can do to match".
If not, then walk. Go to company #2 until you get a deal from #3...
2006-08-30 08:34:03 · answer #6 · answered by words_smith_4u 6 · 0⤊ 0⤋
Call up your credit card co. and tell them you got a recent offer for a much lower interest rate and ask your co. if they could give you a similar deal, otherwise you will cancel your credit card and go with the other co.
It may or may not work, but worth the try.
2006-08-30 08:33:55 · answer #7 · answered by billm_07456 4 · 0⤊ 0⤋
Yes, you can and yes I have. Call them and tell them you have another credit card offer from another company and they are offering me ?%. Tell them you really would like to stay with the same credit card company but if they cant beat the newly offered interest rate, you will have to consider transferring your balances to the new offer and close the existing account. Ofcourse its a lie, but they dont know that. But, if you've ever been late or over the limit, dont count on miracles. Good luck!
2006-08-30 08:35:10 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Yes, provided that you have no late payments and an established history, most credit card companies do have programs in place to lower your interest rate. A high credit score will also help you lower your rates.
Good luck.
2006-08-30 08:33:33 · answer #9 · answered by Valkanas 2 · 0⤊ 0⤋
Yes. I have been able to get interest rate reductions every few months. I had old college credit card debt that had higher rates, and I wanted to pay it down faster.
A few months ago, I documented the steps that I took. I hope they work for you. This way, you can do it all on your own without outside help.
2006-08-30 08:35:28 · answer #10 · answered by Anonymous · 0⤊ 0⤋
If you have a high rate and always pay on time/not always maxed out, maybe. I had a card that jumped to 30% for no reason and after I called it dropped back to 10.5% If you have bad credit or one or both of the above then no.
2006-08-30 08:34:04 · answer #11 · answered by Anonymous · 0⤊ 0⤋