2007-01-01 05:36:26 · 9 answers · asked by scamaideno4 1 in Business & Finance ➔ Credit
Getting good interest rates takes more then paying on time. You have to pay every debt you owe on time. Creditors are the only financial institutions in the world that will pull your credit report and if you were late on discover but never on Citibank , Citibank will raise your interest. Just because you are considered more of a risk. They don't send you warning you will just get a monthly bill in the mail with increased rates. Same thing if they see your car or mortgage is late many times they raise your interest. Also they are looking at the amount of debt you owe secure and unsecured. The higher er risk the more the interest. I have had clients with stellar rating over 750 and still pay 24% for a credit card, because even though they had never been late on a credit payment, the total amount of the debt they owe was over 50,000.
Kourtnie D.
Debt Analyst
The E.D.A.. Group
2007-01-01 07:44:35 · answer #1 · answered by Kourtnie D 4 · 0⤊ 0⤋
You have to establish a good credit history first (ie paying more than the minimum, paying bills on time, etc.)
Also, most credit card companies will only review your request to lower your apr once a quarter. If you have already asked within that quarter they will automatically tell you no.
Ask your credit card companies if they are offering any balance transfer specials. make sure they are for fixed rates with no balance transfer fees otherwise it might not be worth transfering the balance in the long run.
Hope this helps..
2007-01-01 05:45:07 · answer #2 · answered by K A 2 · 0⤊ 0⤋
Yes, most definitely (especially if you've been with them for 6 months or more) Call the credit card company and request to speak to the manager, not just the customer service rep. Or if the rep says that she/he can do it for you, then that's ok. Especially if you have a good paying history with them -- and you threaten to close your account and move it to another that is willing to give you a better rate, then you can do so. The worst they can say is "No". So go ahead and give them a call. You'll never know what you can get if you don't try it :o)
2016-05-23 03:18:27 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Ask to talk to the retention department. Tell them that you have offers from other companies at a lower rate and you are ready to jump to them and close your account, but you want to see if your current company can match or beat the deal from the other company. If they still say no, go ahead and open a better card (if you can). If you can't, pay on time and try again in 6 months.
2007-01-01 05:58:24 · answer #4 · answered by Christian 2 · 0⤊ 0⤋
Pay off all cards as soon as possible then look for offers that have minimal interest rates over long term. Do not fall for 6 month come on rates. They will make that money back. The best way is to only have one or two cards from big banks and only use in emergencies or for travel and pay off in same billing cycle. Once you have picked your best possibilities eliminate most of your other lines of credit and apply for theirs.
2007-01-01 06:06:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Contact the Chairman of the Board of Governors of the United States Federal Reserve.
Ben Bernanke
The Bank board sets the standards of APR
YOU JUST KEEP TRYING.
2007-01-01 05:55:42 · answer #6 · answered by iroc 7 · 0⤊ 0⤋
Get another credit card through another company. There are plenty that offer 0% interest for the first year.
2007-01-01 06:08:35 · answer #7 · answered by Anonymous · 0⤊ 0⤋
They won't because they don't care. Look for another card with a better deal and dump the first one.
2007-01-01 05:55:42 · answer #8 · answered by Gone fishin' 7 · 0⤊ 0⤋
cancell the accoint and go to another company
2007-01-03 14:58:03 · answer #9 · answered by zachary b 2 · 0⤊ 0⤋