How to Negotiate Credit Card Interest Rates

Financial times are hard. More and more people find themselves struggling to make ends meet. Credit card debt is piling up and rising interest rates make it almost impossible to pay off. Here is a tip on how to negotiate your interest rates with your current creditors.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Current Credit Card Bills
• Monthly Budget

1. Begin by figuring your monthly budget, including all living expenses. Gather your credit card statements.

2. Call each creditor and ask to speak directly with a supervisor. Often suporvisors are the only one's able to make any decisions regarding your interest rate.

3. BE POLITE and explain the reason for your call. Let your creditors know you are asking for a rate reduction on your account. Be prepared to explain your financial situation to them. DO NOT threaten to close the account, etc. unless you are fully prepared to do so. If you don't get the answer you want immediatley, try again later in the day or week. Different people work at different times, one person may be unwilling to help...another may be more understanding.

Tips & Warnings

• BE POLITE!