Are you one of the several people that are dealing with higher interest rates than you feel you deserve? Would you like an interest reduction? What if I told you that you could have one? Well, if you are one of the several people who have made the decision to pay attention to their credit scores, pay their bills on time and even sent more than minimum payments when possible, chances are, you can! As a matter of fact, getting a lower rate on your card may be much easier than you originally thought! Here are the steps that you should follow when negotiating lower credit card interest rates:
Step #1: Get Prepared: As with anything in life, when you want to reduce your negotiate your rates, before you are ready for negotiations, you are going to need to get prepared! To get prepared, simply make a list of your different cards and debts owed to them. The list should include the account numbers, interest rates, balances, phone numbers and pay to addresses for all of your accounts.
Step #2: Call Your First Lender: Now that you are prepared, it's time to call the lender that charges you the highest rate! Simply call the toll free customer service phone number that you listed as you where getting prepared! Once you call, simply go through the automated system and choose the option that will get you to a live representative, then move on to the next step!
Step #3: The Negotiation Starts: Once the customer service representative picks up and verifies your identity, she will ask you what you are calling for. When she asks, simply say, €I am calling because I was going through my different cards and noticed that you are the one that charges me the highest interest rate. I love the card, rewards and even customer service but, with so many balance transfer opportunities out there, I can't see myself continuing to pay such a high interest rate. Can you help to reduce it?€. You will be placed on hold and when the representative comes back, she will either tell you of a new interest rate that you can have or transfer you to another department. If transferred to another department, simply continue step #3 until you get an answer. If you get an interest rate reduction, write down your new rate and move on to the next step.
Step #4: Call The Rest Of The Lenders: Now that you are done with the first card, it's time to call the rest of your lenders. Go ahead and negotiate lower interest rates with all of your cards. I know that some will say no and not reduce your rate. When you get these simply move onto the next until you have called all of your lenders!
Step #5: Transfer Your Balances: Finally, to reduce the interest rates on the cards that the lender refused to reduce, simply take a look at the balance transfer offers available at JEMCreditCards.com! There are several offers that will give you 0% for 6 to 18 months just to transfer your balance!
Step #1: Get Prepared: As with anything in life, when you want to reduce your negotiate your rates, before you are ready for negotiations, you are going to need to get prepared! To get prepared, simply make a list of your different cards and debts owed to them. The list should include the account numbers, interest rates, balances, phone numbers and pay to addresses for all of your accounts.
Step #2: Call Your First Lender: Now that you are prepared, it's time to call the lender that charges you the highest rate! Simply call the toll free customer service phone number that you listed as you where getting prepared! Once you call, simply go through the automated system and choose the option that will get you to a live representative, then move on to the next step!
Step #3: The Negotiation Starts: Once the customer service representative picks up and verifies your identity, she will ask you what you are calling for. When she asks, simply say, €I am calling because I was going through my different cards and noticed that you are the one that charges me the highest interest rate. I love the card, rewards and even customer service but, with so many balance transfer opportunities out there, I can't see myself continuing to pay such a high interest rate. Can you help to reduce it?€. You will be placed on hold and when the representative comes back, she will either tell you of a new interest rate that you can have or transfer you to another department. If transferred to another department, simply continue step #3 until you get an answer. If you get an interest rate reduction, write down your new rate and move on to the next step.
Step #4: Call The Rest Of The Lenders: Now that you are done with the first card, it's time to call the rest of your lenders. Go ahead and negotiate lower interest rates with all of your cards. I know that some will say no and not reduce your rate. When you get these simply move onto the next until you have called all of your lenders!
Step #5: Transfer Your Balances: Finally, to reduce the interest rates on the cards that the lender refused to reduce, simply take a look at the balance transfer offers available at JEMCreditCards.com! There are several offers that will give you 0% for 6 to 18 months just to transfer your balance!