Heres the deal, I am never late with my payments, however with this card I never got a statement and it slipped my mind. Now I am getting charged an outragerous interest rate, whats my best way to explain to them that if I got the statement I would have paid it. Also do people have luck get the interest rate increase reserved or at least lowered if they were only a couple days late and always pay bills on time?
2007-01-27 09:13:35 · 15 answers · asked by Tim6298 2 in Business & Finance ➔ Credit
kill yourself on the phone to them and incite change this way. not only will you be hailed a martyr for your good deed but you will have solved your own problem. Good luck
2007-01-27 09:17:33 · answer #1 · answered by Anonymous · 1⤊ 3⤋
First of all I want to say, make a list of your credit card bills and the payment address. Put this list in one palace where you can write a check and make the payments without a statement.
As for the problem at hand, BORROW the money and pay off this card in full. The payments may go up on the other cards, but the interest rate on the other cards will not go up. Do not try to explain to the credit card company why you missed a payment, they don't care. CUT UP THEIR CARD, They will spend a ton of money trying to get you to use their service again. They will offer you all kinds of deals, don't use them again until they send you a new card.
You seem to have your financial house in order, I hope that you are paying a mortgage. This is a must, in the USA, you refinance the house and the interest is deductible on your taxes. Credit card balances should be kept low or not at all.
2007-01-27 10:14:43 · answer #2 · answered by whatevit 5 · 0⤊ 0⤋
Call them and explain what happened, if this is really the first late time they should listen - also ask them if you can start getting the statement by computer - it's even easier if you can pay by computer. If they still will not reduce the rate, then pay the card off - use a current card or open a new one with a zero or at least lower rate.
Also if possible set up your computer to remind you of due dates.
Microsoft outlook has a calendar - also yahoo has a calendar.
2007-01-27 09:23:04 · answer #3 · answered by happy_southernlady 6 · 2⤊ 0⤋
This also happened to me. I did not get the statement, but I was liable for the late payment, and the higher interest rate. After several phone calls, I gave up and transfered my balance to a new credit card. If you have good credit there are lots of companies out there willing to give you a card.
Good luck.
2007-01-27 09:22:23 · answer #4 · answered by Allan 6 · 2⤊ 0⤋
Here is the deal you will never convince the card place that you never recieve that bill so you will have to pay it. But you can call your card place and tell them they do not give you a better deal on your interest you will go some where else and 99% of the time they will work with you when you do talk to them if the first person will not work with you tell them you want the manager or their supervisior and i do know this will work if they will not work with you then call other card places and most will offer to work with you with lower interest. My sister did this and she saved a lot of money she transfered her credit debt to this other card company and she was happy.
2007-01-27 09:25:34 · answer #5 · answered by CHAEI 6 · 0⤊ 0⤋
All you can do is explain to them and ask them to look at your history. If they still refuse to work with you ask for a supervisor and try it with them, also if your history is really that good look into another card and doing a balance transfer, or just tell your current company you are going to. Most credible credit card companies will not raise the rate unless you have a couple late payments in the same year.
2007-01-27 09:23:10 · answer #6 · answered by mike1985x 3 · 1⤊ 0⤋
You're not S.O.L.
Call the credit card company. Explain to them what happened. They can look up your payment history to see if your telling the truth. If you're lying to them, then you ARE screwed. If you've always paid on time, then they should cut you a break. I've had this happen to me too with Discover. They were really rude and didn't want to budge, so I told them that I wanted to cancel my card immediately! Even though I'm not a big spender, they didn't want to lose my business, so they eliminated the late charges. Try it!
2007-01-27 09:23:33 · answer #7 · answered by beekiss 4 · 0⤊ 0⤋
I've had some recent late payment problems of my own, which i have managed to resolve easily.
Go to creditboards.com, and do a serach for retention # for that particular card company. That phone number will take you directly to someone who has the authority to waive the late payment and to reduce your interest rate back to what it was.
Just use the following words (works for me every time)...
"Can you do this as a one-time courtesy?"
2007-01-28 02:43:08 · answer #8 · answered by Jason S 2 · 0⤊ 0⤋
Yes I think you have to pay but you could complain and change your credit card if your not happy. Better still is get another card but keep your present one but with a clear balance. That way they have the expense of administration.
2016-03-29 05:22:44 · answer #9 · answered by Anonymous · 0⤊ 0⤋
call 'em. You may not get the interst rate lowered (Though most will automatically go back to the original rate after 6 months of on time payments), but you may be able to get htem to reverse the late fee-- probably like $35.
Cal and explain. Be very apologetic and dont blame them so they want to help you. :-D
2007-01-27 09:55:34 · answer #10 · answered by Anonymous · 0⤊ 0⤋
just explain to them why the payment is late and I am sure they will waive the late fee. It has always worked for me.
2007-01-28 17:17:35 · answer #11 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋