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MissingLI
Such a Big Boy!
Member since 1/06 1602 total posts
Name:
C
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Negotiate Credit Card Interest Percentage?
Does anyone know if you can do this? I have a 12.99% interest rate on my card and I owe less than $2,000. Can I call the card company and negotiate for a lower interest rate?
I know there are a lot of experts on here. Thanks so much!
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Posted 2/2/09 11:47 AM  |
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Long Island Weddings
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GioiaMia
Let's Go Rangers!
Member since 1/07 14818 total posts
Name:
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Re: Negotiate Credit Card Interest Percentage?
I am not sure of how this was affected by the economy BUT about every six months I just call and say "I heard that I can have my interest rate lowered" and they have done it for me!
Some people say they have to threaten to close the card, but I have never done that.
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| Posted 2/2/09 11:51 AM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: Negotiate Credit Card Interest Percentage?
Newsday had an article about it this weekend. I'll try to find a link.
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| Posted 2/2/09 11:54 AM |
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MissingLI
Such a Big Boy!
Member since 1/06 1602 total posts
Name:
C
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Re: Negotiate Credit Card Interest Percentage?
Posted by nrthshgrl
Newsday had an article about it this weekend. I'll try to find a link.
Really? Oh that would be wonderful, thank you!
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| Posted 2/2/09 11:55 AM |
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MrsA714
Baby #2 is here!
Member since 8/07 8806 total posts
Name:
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Re: Negotiate Credit Card Interest Percentage?
Yes you can. They'll usually look to see if you've paid on time in the past; if you usually pay more than the minimum; and that you have not called to reduce/negotiate the interest rate within the last year or so. Obviously, the decision is up to them but generally, if you've been a 'good' customer/cardholder they will work with you.
Good luck.
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| Posted 2/2/09 12:05 PM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: Negotiate Credit Card Interest Percentage?
Posted by MissingLI
Posted by nrthshgrl
Newsday had an article about it this weekend. I'll try to find a link.
Really? Oh that would be wonderful, thank you!
Newsday's article: Even in credit crunch you can press for better terms
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| Posted 2/2/09 12:22 PM |
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LightUpOurLife
Totally in love
Member since 8/06 12785 total posts
Name:
Bonnie-Jean
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Re: Negotiate Credit Card Interest Percentage?
I've done it twice. Totally worth it to at least try.
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| Posted 2/2/09 12:26 PM |
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MissingLI
Such a Big Boy!
Member since 1/06 1602 total posts
Name:
C
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Re: Negotiate Credit Card Interest Percentage?
Thank you so much! I'm going to call today. The card is with BOA and I'll let you know how it goes.
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| Posted 2/2/09 12:29 PM |
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JenMarie
One day at a time
Member since 11/07 7397 total posts
Name:
Jennifer
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Re: Negotiate Credit Card Interest Percentage?
Posted by MissingLI
Thank you so much! I'm going to call today. The card is with BOA and I'll let you know how it goes.
Good luck. I called and got my rate reduced like a fraction, but then they reduced my limit on my other card I have with them. BoA is shady.
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| Posted 2/2/09 1:00 PM |
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