to lower my interest rate? my intrest rate is 34% due to one overlimit fee BUT the only catch is that my balance is now 0. I want to use this card for a vacation later on in the year but I have to get a better intrest rate. When I call to ask them-what do i say?
2007-05-09 11:08:06 · 4 answers · asked by JB 1 in Business & Finance ➔ Credit
34% is very high, if the overlimit was awhile ago, they may work with you. If it was fairly recent they may want to see a few months of better credit keeping.
When you contact them tell them how much you enjoy doing business with them by using the card (and any other business dealings if there is any) Then tell them that you are planning a vacation and since that card is your favorite you want to use it while on vacation - but that you are hesitant in using that card since the interest rate being so high.
Then ask them to lower it to a reasonable rate.
If the first CSR you speak with says no, call back and speak to another. If all else fails ask to speak with a supervisor and then an underwriter.
If all you get are no's, ask what they would like to see out of you in the next few months to be qualified for a lower rate (what you need to improve on with your credit or spending habits etc)
2007-05-09 12:29:20 · answer #1 · answered by echo 7 · 0⤊ 0⤋
IMO the smartest way is to save up for the vacation and not use the card. If you want to get them to reduce your rate, you have to ask. Before you contact them, collect any recent 'pre-approved' offers you have received. Tell you current card company the best rate from the offers and ask them to make a counter offer. If they won't reduce your rate, close your account and apply for a different card.
2007-05-09 20:11:12 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Hmmm instead of using your credit card to finance your vacation, why don't you actually save the money over the next year? You could try applying for a different card and do a balance transfer
2007-05-09 18:34:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Flat out. "I'm interested in lowering my rate. Can you help me?" If that doesn't work get a different card. 34% is robbery! Just remember to pay your cards off each month and you wont have a problem.
2007-05-09 18:23:58 · answer #4 · answered by MikeD 2 · 0⤊ 0⤋