I know many people have never thought about this before, but if you call your credit card company you may get a lower rate. Now this does not seem like it is possible, but I have done this before and got my rate lowered by six percent! This may not mean much to some people, but ever little bit helps out!
Six percent is a huge deal! Unfortunately, I don't think I'm in a great bargaining position for this, as I'm still trying to rebuild my credit from past mistakes, but I suppose it's a really good option for people who have been paying their bills on time for a while.
Have any of you done this when you are under a financial burden? First my husband's company cut his pay by 10%. We were making our CC and other debt payments okay with his original pay, but with this cut I knew we'd be struggling. So I called the CC companies to see if they could possibly lower our interest given our good credit history with them and our new financial situation. Not one of them would do it! I heard that most CC companies will try to work with you on this for fear that you might claim bankruptcy if they don't. I gess times have changed. Now, though, my husband's company has laid him off, so we are really in a bind. Have you ever been able to do this?
