Debt Negotiation Advice
Should I try to negotiate a lower interest rate on a credit card?
I am in the process of paying off debts (thank you Dave Ramsey), including a credit card with about $9000 on it. I am able to make the payments and I am current. Despite this, a lower interest rate would be nice. Is it possible and advisable to try to negotiate a lower rate under these circumstances?
Public Comments
- Yes, it can't hurt you
- Can't hurt. Call them and ask the person if he's authorized to do that. If not, ask to speak with someone who is.
- of course, I have done it before, if the payments are current, they should negotiate with you. just call them up and ask them for a lower interest rate.
- What I did was call them up and tell them that I wanted to cancel because I had a card with lower interest (which I did). I was able to lower the rate on that card once and then once on the other card. You can call and try to lower it. They really don't want you to, but they would rather lower it than have you cancel it all together.
- When I was in a similar situation, I did make some calls and asked about lower the interest rate. Some of the companies were willing, others not. If you credit rate is still good, you may want to check into transferring the balance to a lower rate card. Many cards have offered with lower interest rates for transferring balances. Keep cracking away at it. I was able to do it, but it took a couple of years. I feel so much better without the debit now. Good Luck!
- Tell them that you have 3 credit cards and you are going to put them all on then lowest interest one, and destroy the other two.
- Yes.
- Definitely. Takes a simple call. I had mine reduced by 5% last night.
- Hi, I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It's legitimate.I came across this company on NBC News.Check it out here: http://shortlinks.co.uk/4cl
