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.

This is a popular question. When I was a mortgage broker I pulled a credit on a woman who had no credit. How was this possible? She simply didn’t have at least 3 accounts open longer than a year, thus receiving a score of zero.

Equifax, TransUnion, and Experian are the three credit bureaus. Your score can be as low as 30o to 400 depending upon the bureau, and can be as high as 850. The higher your score, the less “risk” you are to potential creditors, which means you pay less in interest to any lender.

Remember, your credit score is not about how good of a person you are. Its simply a measure of your ability to repay your debts.

If you need to check your credit score, simply visit the debt management guys homepage to check your credit. If you are behind on payments and want to learn how you can get lower interest rates, or settle your debt for half, click the call button to be connected with a live representative today.