How to Lower Your Credit Card Interest Rate Flashcards
Why do credit card Interest Rates Change?
Rates Aren’t Always Fixed
Credit Cards Often Have Introductory Rates
For Future Transactions, They Just Have To Warn Us
Rates Rise When We Screw Up
What can I do if I can’t get a rate decrease?
Balance Transfer
Debt Management
Debt Settlement
Bankruptcy
How can I get a Lower Interest Rate?
Shop around and ask your issuer to match other offers.
Open a new credit card account with a different issuer to take advantage of their intro features and rates.
Call your credit card issuer to work out a mutually beneficial agreement that relaxes the terms of your repayment.
What is a Debt Management Program?
A Debt Management Plan is negotiated between you and the credit card issuer and sets up an amended payment plan to make monthly payments more manageable. This is usually accomplished by lengthening the repayment term, lowering the interest rate, and waiving certain fees.
A Debt Management Plan does not forgive any principal balance owed.
