1 year, 4 months ago
via credit-qna.com
What are tips for negotiating a credit rate?
How can I keep my credit card rate from increasing? Is there any way to lock a credit card rate?
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M$1 Answer
Negotiating for the lowest interest rate on a credit card may not be quite the same as negotiating for a mortgage or line of credit. For example, many credit card companies are more or less immovable when it comes to trying to negotiate their interest rates.
The best way to prevent your credit card rate from increasing is to pay your bills on time. In many cases, late or missed payments can lead to increases. However, you won't necessarily get a lower rate just because you're financially secure with a good credit score.
Rather than dealing with credit card interest, it may be better to only borrow via a mortgage or line of credit where your good credit and positive repayment history are more likely to be rewarded with a low rate.
The best way to prevent your credit card rate from increasing is to pay your bills on time. In many cases, late or missed payments can lead to increases. However, you won't necessarily get a lower rate just because you're financially secure with a good credit score.
Rather than dealing with credit card interest, it may be better to only borrow via a mortgage or line of credit where your good credit and positive repayment history are more likely to be rewarded with a low rate.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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