Want A Lower Interest Rate - Ask For It!
According to a recent survey conducted by Synergistics Reasearch Corp. credit card customers have gained the upper hand in negotiating rates. The study showed that three out of four U.S. cardholders have received an interest rate reduction when they ask for it. However, the research also revealed that only 44% of credit card customers that revolve have asked for a rate reduction. I for one know that it works because I have negotiated a much lower rate for myself. But what I really found interesting was that about one-tenth of all cardholders that did not get a lower rate when requested ended up canceling their card. Overall, 89% of those who asked for a lower rate either got a lower rate or canceled their card.
So if you feel like you should be getting a lower rate on some of your credit card companies, call them and let them know you are uhappy with your current rates and that another company has offered you a much lower rate. But to save me the rouble of having to switch everything I would prefer to stay with your company. You will be amazed at the results you will receive. Good Luck and let us know how it goes.
January 25th, 2007 at 7:54 pm
[…] If a credit card holder can lower his/her rate, that would be great thing. Nevertheless, today, only those who asked for it can get it. In a blog entry posted at www.0-apr-creditcards.com, one blogger mentioned a survey saying that most U.S credit card holders have had the control over their interest rate. This means that most holders know how to ask for a much lower interest rate. Fortunately, most of those who have asked their credit card companies to lower their interest rate had their wish granted. As the figures from the survey would show, three out of four holders asked for a reduction and had it. Moreover, the survey revealed that of all *credit card* holders circulating in the country, only 44% have asked for a rate discount. The blogger was one of those who negotiated her interest rate and had it reduced. But not all who requested for it were able to persuade their credit card companies. One-tenth of those who failed to lower their rates canceled their cards. All in all, 89% of those who summoned their card companies either canceled their cards or secured a lower rate. […]