2006-11-20 04:03:32 · 5 answers · asked by Jennifer M 1 in Business & Finance ➔ Credit
Tell them that you have another offer of a lower apr and ask them to match or loose your business. Run a bluff! they will always take the bait. Make sure the rate is realistic though!
2006-11-20 04:06:43 · answer #1 · answered by golferwhoworks 7 · 0⤊ 0⤋
Well I never was successful at this, but you're always free to ask. And they're always free to say NO.
Probably depends on their mood that day, but 7 months isn't a long term history as a customer, so I don't think you have a lot of ground to stand on here.
Also, you need to ask for a rate decrease, not an APR decrease. If you ask for this, they will know you're new at this, incorrect lingo. APR means nothing basically. It's a term that sounds important but does nothing but confuse the consumer.
2006-11-20 05:12:37 · answer #2 · answered by jenay672001 3 · 0⤊ 0⤋
I asked mine to reduce the APR and they checked my payment record. I had not been late with one payment and they were glad to reduce the interest rate. If a person has bad credit or a late payment history, they aren't likely to get it reduced. Those people are the reason interest rates are too high to begin with. Some credit card companies don't mind reducing the rate for their good customers. My bank credit card already has a lower interest rates because I have enough in automatic deposits each month to pay off the charges when the bill comes in. It doesn't hurt to ask for an interest rate reduction.
2016-05-21 22:31:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Go ahead and ask - lot's of competition out ther.
2006-11-20 07:07:06 · answer #4 · answered by arty35 1 · 0⤊ 0⤋
Absolutely....Go for it. I think they will lower it because of the competition.
2006-11-23 15:27:43 · answer #5 · answered by Dyan 4 · 0⤊ 0⤋