How To Lower Interest Rates On Credit Cards

Depending upon your credit, you might be a phonecall away from receiving lower interest rates.? So many of us hate to call a customer service department and be placed on hold, but its well worth the wait. After all, its your money isn’t it?

Most consumers simply don’t know their current interest rate because they are unsure how to read the complicated rates.? Daily periodic rate, annual percentage rate, what does all that mean?

You want to look for your APR -(annual percentage rate) Anything over 15% is really starting to get high.? So what do you do?

1. Call your credit card company.

2. Ask for the retention department.? This is the department that handles clients who are thinking about cancelling. You don’t always have to be placed on hold again.? Sometimes the rep can tell you how low the rate can go.? No one reads the terms and conditions but it says for every six months you make your payments on time, you are eligible for a lower interest rate or a credit increase.

3. If you don’t succeed, try, try again. Somtimes you need someone who is more pleasant, but if your credit has been hurt, you might not be able to get a lower interest rate unless you enroll in a dmp (debt management plan).

To find out if you qualify,? call? 404.496-8255? (TALK) today.

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