Ways to Get Your Credit Card Fee’s Lowered
If your credit score is less than perfect, and you have a credit card, you are probably familiar with the term “astronomical rates.” People with not-so-desirable scores often have to deal with outrageous credit card interest fees. If you’re one of those people, you’re in luck. You can use a number of techniques that will help you get those numbers down. Live a hassle-free life. You can try any one of the following techniques if you would like to reduce or avoid credit card fees and get a lower interest rate:
Seven Ways to Reduce Credit Card Interest Fees
Make Timely Credit Card Payments
One of the easiest ways that you can eliminate high credit card fees is by paying your bills on time. Payment history makes up 35 percent of your credit score, and credit score often determines your credit card interest rate. You only have to miss one payment to see some devastating events occur with your financial profile. Be very careful to make the payments about five to seven days before the due date so that they process on time. If you are paying with a check, you may want to give it a longer period of 10 days. Paying on time every month should help you reduce credit card interest fees or at least prevent them from rising.
Understand the Numbers Game With Credit Card Interest Fees
Another thing that you must be able to do before you get anywhere on this matter is to understand the numbers game. If your credit score is below a certain point, you will have high credit card interest fees. Furthermore, you will have above-average credit card fees. That’s the name of the game. That being said, though, you don’t have to settle for the worst of the worst. You can try some of the suggested methods to reduce the credit card fee. Understand that a credit card can come with as many as four different credit card interest rates.
Use Another Credit Card
A balance transfer is another process that you can use to lower your credit card interest fees. The type of card that you need to look for is a card that offers a 0% intro on credit card interest fees. Such cards have amazing introductory offers that can last anywhere between 90 days and 21 months. The Citi® Diamond Preferred® Card offers a very generous 21 month 0% intro. You can have that period of time to just enjoy paying off your debt. You can make purchases that don’t have anything extra tacked on to them. Many people use balance transfer card to reduce their credit card interest fees to 0 percent. The Chase Slate® credit card is specifically designed for balance transfers.
Use a Credit Card Comparison Tool
A credit card comparison tool is a preventive tool that you should always use long before you have to take steps to lower your credit card fees. Apply for a credit card that offers low interest or 0 interest balance transfers. You may even want to use a comparison tool after you have a credit card so that you can find the perfect balance transfer option for yourself. You will be able to view the annual percentage rate (APR) on the comparison page. Choose the credit card that is most suitable to you.
Get in Touch With Your Credit Card Company About Your Credit Card Interest Fees
Let your credit card company know that you have a problem with the credit card fee. Speak to someone in customer service and express yourself. Tell this person that you believe your credit card fee is outrageous. Request that you would like someone to review your account. See if they can’t do something about removing the fee for you. They should be able to assist you with that. However, don’t take it personally if the customer service agent doesn’t have the authority to wipe out or reduce credit card fees. Sometimes, difficult tasks like ones to reduce credit card fees are something that only the head honcho can perform.
Ask to Speak With the Person in Charge of the Credit Department
Sometimes, to get a lower interest rate or reduce credit card fees, you have to get into contact with the head supervisor. You have to speak to someone who knows all of the business policies. Speak to someone who has access to the software that can reduce credit card fees or give you a lower interest rate. Some supervisors will do that if you speak to them like they have sense.
Threaten the Issuing Bank With Cancelling Your Credit Card
Finally, if all else fails, and the head supervisor refuses to lower your credit fee, you can just outright threaten to remove your business. Tell the credit card company that you will be getting a huge balance transfer card. Threaten to close the account and transfer it to another credit card company. The head honcho may get a hunch to appease you at that time. If not, you can always carry out your threat anyway just to show folks that you aren’t kidding when you say you’re leaving. It may get you some respect in the future. If not, it will at least give you an inner giggle and one less credit fee.
Now you have an idea of what to do if you find that your interest fees are making you quite nauseous. You can practice any of these methods effective immediately. Avoiding bad credit card habits is key. This will slow the rate at which your credit debt is compounding. Finally, if you do not have any luck with them, you can also contact a finance specialist to help you with negotiations.
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