American society revolves heavy around the use of credit. It’s important and vital that many people have good credit to use to purchase homes and cars. One way that you can help to keep your credit manageable is by having your interest lowered. Here is some helpful information about how to lower your credit card interest.
- This may sound strange and almost unreal but if you simply call the credit card company and ask them to lower your interest for the most part they will. Many people don’t realize this simply because many people just don’t call to have their cards interest lowered.
- Another thing that is important is that you pay your bills and pay them on time. You cannot expect that you’re going to get lower interest if you do not pay your bills on time. This is why people must be willing to take care of their credit and keep it healthy. In todays economy it may be hard but the fact is that it must be done.
- The next thing you must do is to inform your company that if they don’t give you the lower rate that you’re going to leave them for somebody who will. I wouldn’t recommend you taking this approach too often, since it can work against you. Banks and other institutions which check your credit scores like to see individuals who stick with one partner (just like in a real relationship) and if they constantly see you hoping around well they probably won’t want to deal with you. Use this method sparingly, but do not hesitate when it’s absolutely necessary. Paying off your debt then leaving will be a better option for you in the long run. Especially when others review your history.
- Don’t be fooled by rewards programs, or other enticements, focus on the rate of interest. Too many people concern themselves with air miles programs, or free cash back rebates. These are excellent things to have, but unless it is going something that you plan to utilize, saving on the interest rate is going to have a greater impact on your vacation fund than those air miles you collect when purchasing soup at the grocery store.
Keep in mind that companies are not always going to go along with how you see and do things as far as credit is concerned. So don’t expect to always win out with getting your interest lowered. It can be done but if it’s not then the best way that you can lower credit card interest rates is by doing it the old fashion way. Pay your bills off.
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