fixed rate/payment credit card offer (?)
Date: Fri, 07/24/2009 - 16:21
I have a credit card with a balance of $5800.00. The interest rate is 29.99%. Minimum payment is around $156.00/month. I called the credit card company to negotiate a lower interest rate. Because my payments are always on time, they offered me a fixed rate of 6% for 5 years with a FIXED PAYMENT of $115 per month. I am so confused. I'm thinking it's a great offer but on the other hand, I'm stuck with a $115 payment that won't go down as I pay for the next five years. Can someone help me out on this one? I need to give them an answer within the week before I lose the offer. Thanks!
As against 29.99%, I think that 6% is a good offer. In addition
As against 29.99%, I think that 6% is a good offer. In addition to this, if you make regular monthly payments towards the debt for 6 years, you can also improve your credit history and therefore your credit score. So, I think you should go for the offer.
Is the account going to be closed to make this offer valid? Clo
Is the account going to be closed to make this offer valid? Closing accounts can hurt your score.
