Escape High Interest Rates on Credit Cards for Bad Credit
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If you are stuck with a credit card for bad credit, you are probably stuck with sky high interest rates, too. You probably expect to have those high interest rates for quite a while to come, because the only way to get a lower rate is for your credit card issuer to decide on their own to drop your rate... but is that really true? People across America have discovered that there is a better way to improve their credit card terms: Just ask.
The most effective method is to call up your credit card company and tell the customer service representative that you have a more attractive offer from another company and are considering switching credit cards. You may be sent to another customer service representative who specializes in convincing customers to stay, or you may remain with the representative who took your call. Either way, be polite, lay out your case calmly and methodically, and be willing to negotiate. If you cannot come to an agreement on your first call, thank the representative, end the call, and call back another day, when you may get someone who is more willing to help you. (Although customer service representatives are required to follow regulations, they have some leeway in how far they are willing to go for a given customer.)
People who tried this method discovered that over half the time, their credit card company was willing to reduce their interest rates. On average, their rates dropped 5 to 6 percent. Some were able to get their interest rates halved. That is no small reduction, especially if your rates are as high as those of a credit card for bad credit.
When the credit card company considers your request for a lower interest rate, your credit rating and the length of time you have been with that particular company will be two of the top factors they will look at. If you have bad credit, focus on how long you have been a customer, how regularly you have paid your bills on time, and the comparatively small percentage of your credit line you are using, since all of these are also factors in whether your credit card issuer is willing to give you a break in your interest rate.
So phone to ask your credit card company for a better interest rate, and be polite but persistent. You have an excellent chance of convincing them to lower your interest rate significantly. This method works whether you have a regular credit card or a credit card for bad credit, and the best part is that if your credit card company turns you down, there are no negative repercussions. Whats stopping you from trying today? Your interest rate can only get better.
Article Source: Articlelogy.com - Credit Cards A big selection of Cards in all flavors: Bad Credit Cards, Secured Cards, Prepaid Cards, Canada Cards, Low Interest Cards -
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