Getting a Better Interest Rate on Your Credit Card for Bad Credit
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by: barrywaters
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Word Count: 484
If you have a credit card for bad credit, your credit rates are probably extremely high. 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? Credit card users across the United States have found that there is a way to get better credit card terms: All you have to do is 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. The customer service representative might send you to someone who specializes in convincing reluctant customers like yourself to stay, or you might stay with them throughout the call. Either way, when you are speaking with someone who can change your interest rate, lay out your case politely and calmly and be prepared to negotiate. If you and the customer service representative cannot come to an agreement, thank them, end the call, and try again another day, when your call might be answered by a representative who is more inclined or able to help. (Representatives are required to follow guidelines, but they have some wiggle room in deciding how far they are willing to help a given customer.)
Credit card customers who used this method found that more than half the time they were able to get a reduction in their credit card interest rates, and the average reduction was 5 to 6 percent. Some customers got their interest rates lowered by half. That is no small reduction, especially if your rates are as high as those of a credit card for bad credit.
Two of the most important determinants of whether a customer got a rate reduction were their credit rating and the length of time they had had their credit card. 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. The likelihood that you will get a significant reduction in your interest rate is high. The method is effective even if you have a credit card for bad credit, and the best part is that even if the answer is "No," there will be no repercussions. Whats stopping you from trying today? It can only make your credit card terms better.
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Find more info on credit cards, go by securedcreditcards.learnbob.com/?Improving-Your-Interest-Rate-for-Credit-Cards-for-Bad-Credit&p=3934.
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