In my case, I keep getting these lower rate pre-approved offers in the mail for the same type of card. I simply inquired about lowering the rate on the card I have rather than applying for the same card again.
No questions asked. They did it on the spot. Thanks for the tip!
Last week my brother decided to call up one of his credit card companies to complain about his interest rate. He didn’t even have to complain, they just lowered it 8%. I decided to do the same thing with one of my companies, I didn’t even have to complain. They lowered it 7%. I need to get off of this and call the rest of them now. It’s a quick way to save money. Hope it works for all.
Thanks for the tip. I used it this morning and lowered my APR 6% with practically no effort. They said to call next month and try it again because they may be offering a promotion I could transfer to fixed. This was not so bad.
I’ve done this several times in the past on all of my cards. Granted my credit is good and I do keep a balance at times. It’s cool! When I get a lower rate on one card I just call another cards company and say “It just doesn’t make sense for me to continue using your card at 12.9% when my other card is at 5.9%” BAM!! “Will 5.9% do for you sir?” Um ok. Then I make sure I get a Fixed rate instead of a Variable rate. One time a card changed from a fixed rate to a variable on me and I gave them the doesn’t make sense line and now it’s fixed rate again! By the way there’s nothing saying you have to use certain cards. Shop around. See Credit Cards: Find the Right Offer For You & Apply Online - Bankrate for best rates on credit cards. Also, if you decide to cut up a card. Make sure you call the company and cancel your account. That way it will disappear from your credit report and not hamper you from obtaining additional credit cards if needed.