Lowering your interest rate has been made easy with the steps below. Just go through it and apply the measures stated. I bet you, you will be surprised by the result at the end of the day.
Check Your Credit Card Statements | Simple Step To Get Your Credit Card Interest Rate Lowered
The first step is to get your credit statements. This includes your payment schedule, credit history, and other required data, including your current interest rates before asking for a reduced rate from your credit card company.
You can get the customer service number of which you are to call, on the statement. To enable you to speak with a system operator who will connect you with the person to whom you can negotiate your rate. Though, it might be stressful but, it could save you hundreds or thousands of dollars on your credit card payments.
Request for a Lowered Credit Card Interest Rate.
When connected to a customer service representative, you can now begin your negotiations. A good credit card statement is also required, especially if you have one.
The way you speak to a customer service representative matters, I advise you to speak politely to him/her to gain their support. And it is very necessary to be persistent.
Credit card companies have this aim of maximizing profit and as such will not bring your interest rate to the lowest. But in a bid to stop you from transferring all of your debt to a lower interest credit card, they will reduce your interest rate if you wish to do so.
Simple Step To Get Your Credit Card Interest Rate Lowered
Request for Information on Eligibility.
If after trying to get a lower interest rate, your interest was declined. then you should make inquiries from the customer service representative to know what you are to do to be qualified for a lower interest rate. Or wait for some months and make your payments when due to be qualified.
Optional, you can try calling again a few weeks later. If you wish, you can also tell them if you have a lower credit card of which money can be transferred to or if you have a zero percent.
Keep trying, if Needed.
But, if your efforts were not successful, try again in a few months who knows you might be luckier to even have a lower interest rate then.
Full and Punctual Payments.
Always avoid late payment and always pay in full, for this alone can increase your interest rate and you will be considered a credit risk, which also reduces your chance of having a lower interest rate.
In conclusion, lowering your credit card interest rate is similar to increasing your credit score. That is to say, concentrate on making your payments when due and try to have a lower balance, to avoid being close to the credit limit.