Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Anyone had any luck getting help lowering the APR on their credit cards? I owe 1600 on a credit card, its the only one I got. That is my total debt. I know its not much compared to what others owe, but my UI has exhausted in early April, so apparently I have no income coming in. My daughter said she would put money down on it each month, and I talked to the credit card agents and no one will help. Since I was only able to make "minimum" payments on the card the APR is a whopping 30.33%. It's insane! I will never catch up...
If you have good credit, you can buy yourself time by trying to take advantage of a 0% APR balance transfer offer with the opening of a new credit card. It should give you 0% for 12 months.
I actually got mine lowered 5% yesterday to 11% -- but I imagine it is very individually determined. The card issuer never was aware I was unemployed, as the balance was so low that I continued to make 2x min payments & didn't use the card. When I called yesterday, they just said OK - no questions about anything.
I only have the 1 card and think of it as last resort [transmission on car goes]. But the rate was bumped up several years ago for no reason that had to do with the card issuer. Never late in 10yrs etc etc. It was raised because one of my kids, whom I generously co-signed on a car for, was late in payments.
Not like the old days when your record with the company was what counted. Now they base your credit on ANY credit tics on the 3 credit reporting agencies- for ANYTHING. They justify it by saying if you are late etc on another creditor, you are a bad risk to them, regardless if you paid them scrupulously.
I know many people in the "old days" who would keep that card paid up at any cost in order to have access to at least some emergency credit, while letting -say a store card- get behind a month or so. It used to work - not anymore.
"Creative financing" only works for corporations, not individuals, if credit is involved. Late on your cable bill? if the cable co reports it - your credit card interest goes up!
PS - I also treat them as need to know. Didn't offer any info they didn't need. Unless you want a limit increase, they don't need to know you are unemployed, how much savings you have, do you own a home etc. I come at them as a customer whom they want to use the card more or might bolt to another co.
Maybe your daughter could just pay it off in one lump sum and then you pay her with much less interest.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
