I admit I'm almost finished with my project, a 56. Spent a little more than anticipated. Anybody ever call up a credit card company and ask for a lower rate? Any suggestions an getting it paid off quicker? Should be getting promoted pretty soon and that will help but man the rate on a credit card. Wkhat rates do you get?

 

All depends on credit score. I am a 780 and I have 2 cards that I use for emergency and other stuff both have rates of 6.9%. I just moved one balance to a new card that gave me a transfer rate on 0.9% for the life of the balance.

I have called the card companies before and asked for a rate reduction. Your account and others for that matter have to be in great standing with zero issues. They usually will work with you.

What rates are you paying now?

 

i agree, it really has to do with your credit score if they will work with you or not.

or if your in a real finacial dump, then they will work with you, but i think it might have an impact on your score if they would have to take extreme measures in ensuring you can pay.

or you can just get a lower rate card and transfer your balance over to that card, a lot of card companies have promos and such on new users and offer good rate balance transfers.

 

Just make sure to read the fine print.Lots of promo offers out there and some are not nearly as good as they sound.Beware of the offers of 0% interest on balance transfers for a fixed rate of time.The catch to these is if you haven't paid the balance transfer off before the time is up they will backcharge you interest on the entire amount.Also if you take one of these offers it is best not to use the card for anything until the balance is paid in full.I have 3 cards that I use for emergencies.When one has a balance I don't use the others.I rotate them to keep the accounts active.All 3 are between 10-12% fixed rate.

 

Read the fine print on any new cards! These guys are out to royally screw us!!!!!!!!!!!!!!!!!!!!!
Credit cards are incredibly dangerous. Beware at all times!!!!
DO NOT miss payments, pay more than the minimum.
There are no friendly credit card companies, they are a sneaky, ruthless, breed with no worries other than how to get all the money in the world.


Just call customer service and ask for a lower rate..don't make any ultimatiums or threaten to quit..just ask...

Ther are no friendly card companies or companies that will "work" with you...remember...these folks EAT THEIR YOUNG!!!

 

924x2150 I see you like credit card companies a lot more than I do. They are lower than whale crap. They get rich off the lack of economic skills of people today. By offering what seems to be great rates & cash back on purchases they get many people in debt over their heads & charge them outragious rates. I don't have a credit card & doubt I'll ever have another one. I only use credit for major purchases like homes & cars. Anything else I save the cash until I can buy it.

 

yeah i got myself screwed in college on credit cards. that's a HUGE TRAP for college students. i've heard stories of kids who commit suicide becuz they can't see out from under their credit debt by the time their 20. anyway, i was working work study *usually less than $200 a month* and my grandad threatened to shoot me so i essentially decided he kicked me outta the house and moved into an apartment on campus where i now had grocery bills *luckily rent and utilities were paid by my pell grant* and bla bla that i wasn't paying while living with my gramma 4 blocks off campus. i started with one card paying off the balance every month and the first month i cldn't afford to do that was the beginning of a life of credit card doom! i dont accept new cards anymore but every one i have has an interest of 20% or more and now that i'm living on my own i dont have the wherewithal to get ahead. i actually feel i'm getting further behind each and every month.

i choose the one with the highest interest rate, i pay just over minimum on everything else i have *5 or 10 more as i can* and pay every spare penny i have on the highest rate (at the time it was dell) until it's gone *sometimes making a pymt per week*. income tax time is the best becuz then i get a lump sum and can manage to pay one or two off usually depending on how far behind i am on my monthly necessities like electricity and rent and phone.

i'm lookin at 10 years to pay them off IF i use EVERY one of my bonuses, 100% of my income tax checks, and cut them all up so i CAN'T ever use them again, even for emergencies. it cld be done quicker if i sold the truck and bought a 3 banger 50 mpg geo or something, ditched the internet completely *i'm taking internet college courses so i need it for continuing education* and lived off ramen noodles and water which i can buy at work at manufacturer cost on payroll deduction. i give the dollar amt of my debt w/o interest and people say that's it? like it's nothing but it's just under 1/2 my yearly income and the interest takes every penny i make aside from my rent and utilities and gas and food money. i do NOTHING for myself. i MIGHT buy a $5 dvd at walmart once every six months for myself or a not so necessary truck accessory like a smelly thing or light bulb or something. it's a crappy existence and all becuz of credit cards. i think back now and if i hadn't ever gotten a card, yeah i might not still have this truck or the other one but i'd'a still made it here w/o it and i wld be able to pay a house pymt and ins instead of the lowest rent apt i can find in town. i think things would be better and i have every intention of doing whatever it takes to get out from under this.

i WOULD like to know if anyone's had any experience with debt consolidators. i don't trust them any farther than i can throw them but if someone knows of one that is reputable and realistic, i would REALLY appreciate the information.

 

I know, I talked with a painter at work at they ahd given alot of trouble. He warned me. I guess it helped me get my kids through college. Never thought I would have trouble. I have started looking at how long it will take to pay them off and thought it may be 6 years. I figured I call them tomorrow. See if they come down.

Helped my daughter move into her own place yesterday. She khas nothing. No TV,couch,towels,bed etc. Charged most of it. So I can see how they get people into trouble. She's lucky. Has a good job and can work all the overtime she wants. I'll talke to her tonight. I think they may be nice for an emergency if your ddriving across the state and the truck breaks downt etc. but other than that I'll never use them again.

Just thinking of retiring in 10 years and realize they are a pain.

 

I don't know if I would say credit cards are in themselves bad, they are more like a tool. They can be very useful, can build strong credit scores, and can procure loans for you when you need them for a house, ect. BUT them must be used safely! Just like you can permanently injure or even kill yourself with a powertool, you can put yourself head over heels in debt with a credit card. The safest solution? Never, ever leave an unpaid balance on a card on its monthly bill. And if at any time you cant pay the entire bill, CUT THE CARD AND THROW IT AWAY! And DO NOT get another one until you have paid off the old credit card bill. Do you think the credit card companies give a minimum payment to be nice? No, they give you one because they make a whole lot more money off it. Disreguard the minimum, pay it all.
Garrett

 

My story is mostly in the members only forum, due to expletives if for no other reason.

DON'T ever let a significant other share an account.

DON'T let anyone else (no matter how you are related) be a "CARDHOLDER".

If they run up the balance, YOU have to pay it. I estimate ten years to get in the clear again, working six day weeks, WITH retirement pay coming in.

Another way to put it: Never suffer a loser to share your credit.

 

TRy this public radio link, It is a radio program...http://www.npr.org/templates/story/s...toryId=9156929
If you listen to the story...the speaker refers to herself as a "deadbeat"..a deadbeat is what we all should be. The credit card companies refer to people that pay their cards in full every month as "deadbeats, the CC companies hate us..no late fees, no interest, or any chance of sucking our blood.

Third edit..The speaker in this story also mentions that most cards have fine print that basically states "we reserve the right to change our terms and conditions at any time"

 

Credit cards are great!They come in handy for alot of things.Like when you lock yourself out of the house,just slip the card in the jam and poof,door pops right open.Or if you need a shim,they work great.Need to de-ice your windshield?Amazing!But to use them for purchasing something or to borrow money with?ONLY IN EMERGENCIES!The best rule of thumb to live by is,If you cant pay cash,and can get by without until you have the cash,then DONT buy it!I hate credit card companies! They take advantage of the young and inexperienced,and then leech the life out of them.I admit I have two cards,but the only way I will use one is if it is an emergency or if I know I can pay the amount IN FULL when the bill comes in.

 

I once told a rep at Citi Cards that I would rather deal with the mob as they have better business ethics...........bad part is......they do.

 

Credit card interest rates stink. Go to your credit union & see if you can't arrange a loan to consolidate credit card debt - then pay it off. Don't use another credit card until it is paid off either. You might consider recording every expense you have for the next month & see where the $$ is going as you might be able to save a bit more.

Good luck.

 

What sorta college did ya go to? my wifes loans for 4 years should be paid off in less than 10 years//


as far as intrest rate, im not sure what mine are at, probably around 25% it could be 100% and I wouldnt care