Credit card companies do lower
the APR rates if approached with the right attitude proper planning. What is the
correct procedure to do it? In this article we take a look at 3 important things
that could help you get that skyrocketing APR under control.
good re-payment record
If you pay your credit card bills on time, chances are good that your
credit history will be excellent. Paying bills on time gives you a good leverage
for asking the credit card company to turn things in your favor. Having a good
credit history will always help as there would be numerous other options
available to you in case your present credit card company doesn't heed to your
request of lowering your APR.
Do a good research
Before presenting your case to the credit card company it will help greatly
if you find other credit cards floating in the market, which provide similar
services but at a significantly lower APRs and balance transfer options. Once
you have your data ready, it is time to call the company.
Call the credit company
Ask the credit card company to lower your APR, substantiating your request
with your good repayment history, and other cards which offer better options.
Having a good bargaining position doesn't mean in anyway that you loose your
manners while calling the credit card company. Being polite and courteous always
Contacting the right person, who makes the APR related decision will speed up
the process. If the customer service representative denies your request, you
always have other options to switch.