Quote:
Originally Posted by sputNick
I didn't know you could negotiate.
The rates on my card were voluntarily lowered a little bit and my parents had the same thing happen with their cards but I'm going to seriously look into this and see if I can get them even lower.
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2 Reasons why it was lowered...
1. because you probably have small balance with good credit and the c.c. does not want to lose you to a balance transfer to a competitor (ex. They lowered from 15% to 11% WOW it wonderful BUT if you can do a BT for 0% with a competitor even better)
2. because you haven’t used your credit card and they want to entice you…
ALSO watch out for the rate reduction from a fixed to variable... currently the variable rates are much lower than the fixed rates. On paper it will look good but in reality it will not. The feds will jack up the interest rates you will see that variable rate sky rocket.
Jeff