How Can a DMP Lower My Interest Rate?

Wondering how a debt management plan works? Its easier than you think. Your credit card company won’t tell you that you can get a lower interest rate in a debt management plan because they want you to pay the full balance back at higher interest rates. If you can afford the payments but your interest rate is too high, you may want to consider a dmp? if contacting the bank has caused little to no success. However, you must know that enrolling your credit card balances in a debt management plan requires your cards to be closed, meaning you simply cannot charge on that card until the balances are paid off. The important thing to keep in mind is maintaining timely payments since 35% of your credit score is measured by not missing payments. Also, in a dmp you can pay more than the recommended balance as there is no prepayment penalty.

What Might Your Interest? Rates Drop To?

(Keep in mind these are subject to change at any time)

Capital One 7.4%

Bank of America 9.0%

Chase 6% or 10% depending upon the balance

Juniper? now a case by case scenario but was previously 5.9%

HSBC (Household Bank) 9%

Wells Fargo 7.3%

American Express 7.90%

FIA Card Services 15.90%

Wells Fargo Card Services 7.30%

Citgo/Citibank 9.90%

Discover Card 6.99%

Macys-All Divisions 8.00%

Bank One – First USA 6.00%

Direct Merchants Bank 9%

Fashion Bug * 8.00%

HSBC/Discover 9.90%

First Premier Bank 0.00%

First National Bank of Omaha 9.90%

Goody’s/WFNNB 10.00%

Providian National Bank 10.00%

and many more.

Keep in mind that these rates are subject to change at any time by the creditors. Some may be higher, some may be lower. The only way to find out what you qualify for is by contacting us today.

Now, if you are currently more than two months behind on your payments, then your best option may be a debt settlement program

To find out what you can qualify for, contact the Debt Management Guys today at
1.800.442.8004 ext 100 today.

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