Debt Consolidation USA Shares Tips To Lower Down Credit Card Rate

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Debt Consolidation USA explains in a recent article published September 12, 2014 some of the most effective arguments consumers can use to try and convince lenders to lower down their credit card interest rate. The article shares tips on how to use these arguments.

DebtConsolidationUSA.com

DebtConsolidationUSA.com

it is not against the law for creditors to raise their interest rates for no reason at all

Debt Consolidation USA explains in a recent article published September 12, 2014 some of the most effective arguments consumers can use to try and convince lenders to lower down their credit card interest rate. The article titled “5 Arguments To Convince Creditors To Lower Your Credit Card Rate” shares tips on how to use these arguments.

The article starts off by explaining that it is not against the law for creditors to raise their interest rates for no reason at all. They are only required by the law to give all consumers that will be affected at least 45 days notice before the implementation of the new rates. But is is not also against the law to request for a lower credit card rate. All that has to be done is ask.

Of course the lenders are not obligated to give in to the request for the borrowers regardless how nicely they ask. With credit card rates going as high as 36% and some as low as 10.37%, this financial instrument carries the highest rate among the most common debt in a household to include mortgage, student loan and auto loan.

This is the reason why asking lenders to lower down interest rates is a big deal. The article starts off by sharing that having a good credit history is one of the most effective arguments consumers can use when requesting for a reduction of the rate. It shows that the consumer is not a risk and the possibility of defaulting on the payment is small.

Having a long credit history with the lender is another argument that can help in the request. If the consumer has been a long time client and the payments have been coming in on time at the right amount, then this could be good leverage to ask for a lower interest rate on the credit card.

There are some consumers who are upfront with the lender and tells them that they are thinking of transferring the card balance and are looking to lower down their rate to keep using the card. To read the rest of the article, click on this link: [http://www.debtconsolidationusa.com/creditcarddebt/5-arguments-convince-creditors-lower-credit-card-rate.html

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Adam Tijerina
DebtConsolidationUSA.com
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