Is there any way to lower the interest rate from 33% from credit cards to lower rate due to bad credit score?
My checking was NSF when I was out of the country for few weeks. I resumed the payments on my credit card when I was back. As the result, some of my credit card interest rate jumped from 5.9% to 29.99% and 33.34%. I am still making payments on the cards, but it is very difficult to pay down the balance when the rates are so high.
Sandra says-
OC1999 give some good advice below. Explain your situation and see what they say, they might reduce it some, not all the way at first, then some more later after you’ve paid on time for a while. Honestly, sometimes I make up a good story that could be true in these types of situations because the credit card companies are kind of ridiculous. For example I might say, well I had overdraft protection before, but they changed the policy or I missed a payment and I guess I don’t have it now. I didn’t know that I didn’t have it. You get the idea, anything that will make them feel sorry for you or it wasn’t really your fault etc. They make enough money without taking us to the cleaners for one bad check. When you’ve made more on time payments, if they don’t reduce it try applying for a few offer and see if you can get a decent balance transfer offer or just a lower rate credit card. You never know sometimes you get approved, even if it’s just for 1-2k. Better than nothing if they give you a good deal. Then try to pay down the debt on the higher one if you have any left as soon as you can.
