Credit card users....did you know.....

**chanbe** · 06-03-2005, 02:40 PM

that you can get a lower interest rate if you just ASK?Not sure if they all will,but my companies are.I got behind a few years back and a couple of my cards went to the "default" rate to the tune of about 25%.Well,I've been making payments faithfully for 2 years and decided to try and ask them if the'yd lower the interest.And they all did!Discover card was the best-they lowered it last month to 19% and told me to keep making payments for a few months and call back and they'd lower again.Well,I'm not one to wait

,so I just called them and got it lowered again.The rep went from 19%,to 16%,to 13%, and by the end of the call,he went to 9.99%.I am sooo happy!I know some people get even better rates than this,but for me ,this is great!(my debt to income ratio is just a tad bit off

).Hope this helps someone.

**Advertisement** · 06-03-2005 02:40 PM

***buttrfli*** · 06-03-2005, 02:49 PM

Visa lowered mine last year when I asked. I was current on my bills, but knew I was about to get behind when I had some unexpected stuff come up. I was paying 21% and they lowered it to 12%. Then this year, they lowered it to 9% w/o me even asking

**chanbe** · 06-03-2005, 02:57 PM

Then this year, they lowered it to 9% w/o me even asking

Mine never seem to lower my interest,just take it upon themselves to raise my credit level-which is a bad,bad thing to do-LOL.I tell my daughter that credit cards are evil and to never,never get one.

**MistyWolf** · 06-03-2005, 07:59 PM

Good luck if you have Direct Merchants Bank MC .. I asked them and they lowered it from 23% to 21% .. big deal! .. and never told me this on the phone, but I got a letter afterwards stating it was a one time courtesy.

I am ready to call them again to see if they can lower it more .. they told me they can lower new purchases to 16% and I told them I don't even use the card cause I want it paid off!!!

**PreciousDarlin** · 06-03-2005, 08:15 PM

I asked my old credit card company to lower my interest rate once and they told me they couldn't do that with the credit card I had. The only way I could get a lower rate was to get a different card from their company. When I asked about doing that, they told me that I wasn't eligible for any of their other cards. I had just paid off the entire balance (tax money) and wanted the rate lowered (it was 35% APR) in case we had to use it again. They said no, I told them to cancel it.

**one_angel** · 06-03-2005, 08:25 PM

I have done this before. I have also used the "I have a better offer than this, what can you do for me?" (and I haven't had another offer!), and it has worked. I took out a Bank One card for zero interest for 12 mos. Well, that ran out, and it went to 9.99 or 10.9 percent, I think. I found out, though, if I did any balance transfers, then it was 3.99 for the life of the loan. I transfered the entire balance to another card and then transferred it back to the B1 card, and I have 3.99 now! I had to pay a transfer fee of around fifty bucks, but I will gain that back with the low interest in a couple of months or less.

I have also noticed that the card companies will inch up your limit sometimes. They have done this with my husband and I a lot. I have requested an increase occasionally just to have the extra credit (not to spend it, just as an emergency option), and they will do that if you ask and have decent credit. The co.'s are usually more willing to give you credit than a lower rate...lol...I wonder why???

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