LoveToKnow Creditcards:AllComments

Comments

Calvin, contact your credit card company and request a lower interest rate. Good luck!

-- Contributed by: Tamsen Butler

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trying to reduce interest rate.

-- Contributed by: calvin parham

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Jeanne,

What you can, and cannot do, while you are working with a debt reduction company depends largely on your contract agreement with that company. The company should be calling your card issuers and trying to get lower rates as well as reduced finance charges. If they are not, I would ask them why not. If they are not trying to get your rate reduced, then I would question whether you are getting the full value of your relationship with the debt reduction company.

Your credit card companies may be very willing to reduce your rate, even though they said no to you several years ago when you requested rate reductions. They will review current situations, both yours (particularly your credit score) and the current rate policies of the card issuer.

Thank you for your question and for visiting LoveToKnow Credit Cards.

-- Contributed by: SusanWeber

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Thank you for the article on credit card rates. I have a question. I recently hired a firm to handle my credit card debt. Several years I called each credit card company asking them to lower my rates. All but one declined. Now that I am with this company who is trying to lower the rates, can I do so also? I have several cards with high rates. Will this negate my relationship with the debt reduction company? Thanks for your reply.

-- Contributed by: Jeanne LaFontaine
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