Comments on: What can you do to lower your credit card interest rate?

By: cs r

cs r — Mon, 17 Aug 2009 07:34:11 +0000

You pay as much as possible every month from the outstanding amount. Never keep payments close to the minimum amount due.. Once your increased rate of payments becomes a steady pattern , you can ask the same company or other company to give you a line of credit which you can use for any emergencies, but continue with the enhanced payment. After a year, ask a Bank for a Loan to cover the remaining outstandings and pay off the credit card company. Thereafter , use the credit card only for convenience of not carrying cash, but not for credit.Settle the bills promptly and they will go on enhancing your limits. Never exhaust your limits and never default in the card payments hereafter. Slowly, but surely, buld up a savings pool to tide over emergencies like the loss of a job or an illness in the family,etc.

By: Byron W

Byron W — Sat, 15 Aug 2009 14:55:38 +0000

Try to clean up your credit report:.

By: billy s

billy s — Sat, 15 Aug 2009 00:50:55 +0000

What I would do is get a credit card with a really low interest rate and pay the others off with that one.

By: Mr. Hand

Mr. Hand — Fri, 14 Aug 2009 09:52:41 +0000

You can call them to reduce the rate. They may reduce it slightly. Here’s a trick that I do. I save all of the offers I get in the mail. Many times there are offers that will give you 0% or less than 5% interest if you transfer your balance from one card to another. So, basically you can carry a balance with little or no interest for 6 months to over a year in some cases.

Then, when the low rate is going to expire, do it again and transfer to another card with a great offer.

It is completely legal and really improves your credit. The credit report shows that you paid off a card in full, when all you did was just move the money around. However, with such low rates you should be able to pay off the debt.

Good luck

By: maxhound

maxhound — Wed, 12 Aug 2009 21:30:03 +0000

cancel the card and pay them as much as you can every month. As long as you attempt to pay they have a hard time taking you to court

By: Raghav

Raghav — Sun, 09 Aug 2009 13:49:21 +0000

Generally they do give a due date. Try tomake the payments before the due date to avoid any penalty. There some banks who give a 60 day interest free period. If one can settle before the due date it will not attract any interest.

By: Jen

Jen — Thu, 06 Aug 2009 19:32:07 +0000

you have to find a card with a better rate. make it your mission. i think they have already jacked up your interest as high as they can, what do you have to lose. be polite but persistent.you current creditors are under no obligation to give you a better rate, but before you give up, try asking supervisors as far up as you can to give you a better rate. try every month. with that said, smaller banks and credit unions can give you a better deal.