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Question
Is it likely a credit card company will lower my interest rate, if I just ask?
I always see people recommending this, but I called on card company and they said they'd have to run my credit to decide...well, the whole reason I need them to lower my rate is cause I'm working on restoring my credit! I've paid a lot extra lately on this card--$140 extra last month (above the minimum payment) and $560 extra this month. Should I ask now, or not?
1 month ago - 2 answers
Best Answer
Chosen by Asker
It never hurts to ask. Everytime I ask they give me an excuse on why they can't. "you were a day late on your payment 2 years ago, so we can't lower your rate" or "your rate is already at the lowest possible, we can't lower it any more" a bunch of BS all the time. But, you may get lucky :) If your credit card is through a bank, you may have better luck actually walking in and talking to somebody.
Source(s)
Good Luck!
1 month ago
Asker's Rating: 
Other Answers
i think it doesn't hurt to ask. it's nice that you are paying extra every month, although it's hard to say if the card company would take this into consideration on lowering your interest rate right away, but for the long run, it definitely would improve your credit somehow. so even they won't lower it now, but they might do it sooner or later if you keep paying extra.
by maro- 1 month ago