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How can i lower my interest rates?

How can I lower my interest rates on my credit cards? Do I just call the companies? What do I say? Thanks

Answer Question
 
Anonymous

Asked by Anonymous at 1:05 AM on Oct. 14, 2009 in Money & Work

Answers (4)
  • many of them don't allow it but if you call you can ask what the lowest rate is. just make sure you make your payments on time, otherwise your interest rates go up. I found this out the hard way. GL
    Anonymous

    Answer by Anonymous at 2:09 AM on Oct. 14, 2009

  • Yes. Just call them. It's really quite simple to lower your rates especially if they are high like 27%. You could also look into a debt consolidation program and they can get rates really low for you and no debt consoldation programs will not ruin your credit whatsoever. If you are in a lot of debt and do look into debt consolidation make sure you do your research before picking a company. Good luck!
    theutilitarian

    Answer by theutilitarian at 2:50 AM on Oct. 14, 2009

  • Don't count on getting them lowered right now. To get ahead of the legislation recently passed and will go into place soon many credit card companies are raising interest rates. We have a 840 credit score and our rate went up on our cards. We pay ours up before any fees or interest can accure but it still went up. Same with many I know. You can ask but right now with the economy in the crapper and more people simply not paying back what they owe it is very unlikely you will get your rate lowered.
    Anonymous

    Answer by Anonymous at 10:11 AM on Oct. 14, 2009

  • The Dept of Justice has put together a database of credit counseling/debt consolidation orgs with the DOJ stamp of approval-
    http://www.usdoj.gov/ust/eo/bapcpa/ccde/

    rkoloms

    Answer by rkoloms at 12:03 PM on Oct. 14, 2009

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