How To Lower Interest Rate On Credit Card

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How to lower interest rate on credit card – This may allow you to consolidate your existing balances from multiple cards onto a single new card. Apply for a balance transfer credit card with a zero or low interest promotional period.

Balance transfer cards may provide you an alternative for getting a lower interest rate on your current credit card debt.

How to lower interest rate on credit card – Your income also may be a factor in determining your interest rate and especially your borrowing limit. Instead you should work out how much you have to pay each month so you completely pay off your transferred balance before the zero or lower interest rate period ends. If lowering your interest rate is your main concern look for a card that offers a balance transfer deal for new customers which would allow you to move your balance from your current credit card. How to lower interest rate on credit card

You can negotiate a lower interest rate on your credit card by calling your credit card issuer particularly the issuer of the account you ve had the longest and requesting a reduction. While the issuer isn t guaranteed to say yes you re most likely to find success if you have a history of on time payments and your credit score is strong or has recently increased. Ask to have the card interest rate lowered once you are connected with a representative this is the time to begin negotiating your rate. How to lower interest rate on credit card

The interest rate your card issuer charges you is typically a function of your credit score with higher scores usually resulting in lower interest rates. You may want to mention your good payment history your loyalty to the company or a high credit score if you have one. You should be polite when asking for an interest rate change. How to lower interest rate on credit card

Then don t use the card for purchases. How to lower interest rate on credit card

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