Contact bank or credit card company to lower credit card interest rate? November 3, 2009
Posted by Banking in : Credit , trackback
I want to negotiate my interest rate on my credit card. Do I call the bank my credit card it through, or contact VISA?
By: Maria L
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By: Maria L
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Call the 800# on the back of your credit card, or on your billing statement.
VISA does not issue credit and has NOTHING to do with your rate. They ONLY process the transactions between the vendor and your bank. Since the bank is the one who issued the card AND the interest rate, the smart thing to do would be to contact them!
I think Credit card companies are being brutal right now and they won’t lower your rate…they are raising rates even on their best customers. If you call you’ll just get a clueless outsourced rep in whatever 3rd-world nation who will read to you from a script in response to any question.
If you have great credit, then get a new card with a lower rate and balance transfer the debt to the new card. If you don’t have great credit, then there’s not much you can do to lower the rate other than to enter into a Debt Management Plan with Consumer Credit Counseling Services (CCCS).