Trying to get out of this
Date: Fri, 04/10/2009 - 08:51
I had $23,000 in credit card debt at 27.47% APR. Over the past year I've paid it down to $18,600, but it's such slow going. I just got a raise and can now afford to pay at least $1,000 a month to the cards.
I have no other debt or month payments beyond rent/cell phone and basic living expenses. How can I get the interest rate reduced? I would love to get the interest down to the 10% range, but I have no collateral to get a consolidation loan.
Any advice would be greatly appreciated. I don't know what my credit score is, but I'd assume it's decent. I have lots of debt, but I have never missed a payment or been late.
Have you tried calling the CC company and asking for a lower rat
Have you tried calling the CC company and asking for a lower rate. Some CC companies will work with you if you inquire on your own. Tell them you are considering going with another CC company if they cannot give you a lower rate. It is worth a shot :wink:
Anyaroberts is correct. Even if you get a no keep trying. You ma
Anyaroberts is correct. Even if you get a no keep trying. You may get a yes the next time. Also list all your cards in order of what you owe. Concentrate on paying the smaller balances off faster in order of smallest first and then use the money you were paying them and apply it to the next smaller and work your way up to the largest. By that time you wil have enough to really take big bites out of that one.
Excellent Frogpatch :) That "rolldown" method. It works for man
Excellent Frogpatch :) That "rolldown" method. It works for many folks that have the extra cash. OP seems to have extra funds :wink: