With today's credit card companies, there are many opportunities to get
your cards rate of 21% or more reduced. The higher the amount of
interest your card charges will cost you more for a simple
purchase and ultimately may take you years to pay off instead of
months, should you make the minimum payment allowed. People
often just pay the minimum balance as a way to improve their
credit rating; this couldn't be a more dangerous way to increase
your credit score. Leveraging the credit card company to say
"Uncle" to your ability to switch over is easier than you think.
The switch over tactic
If your credit card interest rate is over 20% you should
definitely seek relief in several ways. One of these ways is to
let them know you are thinking of moving to a competitor's
credit card because they are offering a lower rate. They will
move promptly to earn your dollars and interest. Let them know
how unsatisfied you are about their ability to reduce your
percentage rate commensurate with your ability to pay your bill
in a timely manner. They will probably put you on hold
immediately and speak with a manager to get your rate reduced.
Don't be afraid to move to another credit card company
Some credit card companies will not budge when it comes to
reducing your rate: even if you threaten to leave them. That is
when you look for another credit card that meets your immediate
financial needs. Shop around to the major credit card companies
and seek out the best possible rates. You can also search on the
Internet for sites that give the best credit card ratings. This
will allow you to make a financial decision that can save you
hundreds if not thousands in the long run.
There are a dozen reputable credit card companies in the
market who are willing to sign you up to earn your interest.
These cards will even offer to assume your previous credit card
debt to help reduce the interest you are bearing on those