How to Negotiate to Lower Your Credit Card Interest Rates

According to CreditCards.com, the average credit card debt (per household with credit card debt) is $15,956, and the average APR paid on that debt is 12.78%.

Annually, the average household is paying over $2,000 a year just in credit card interest.

If you do not want to or are unable to transfer your balance to a credit card with a lower interest rate, your next best line of defense is to negotiate with the credit card company to get a lower interest rate.

Before you call to negotiate, remember that you will need to be calm and polite the entire time. 

Do not let your emotions enter into the negotiations.  Also, keep in mind that credit card negotiations are effective about 50% of the time.  Don’t use this knowledge as an excuse to give up, but also recognize that you may not always be able to get the credit card company to budge.

Follow these tips when calling to negotiate to lower credit card  interest rates:

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The Best Credit Card Offers

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When used in the right way, a credit card can be a powerful tool.

The best credit cards provide you with free stuff, and even cash back.

While we often we think of credit cards as debt traps, the truth is that, used responsibly, credit cards actually provide a number of benefits.  Savvy credit card use can lead to the earning of valuable rewards, as well as cash back.  You can actually make money simply by making purchases that you would normally.

The goal, of course, is to get the best credit card possible.

This includes a credit card with generous rewards, as well as easy redemption.  Many of the best credit cards also come with a signing bonus.  When you sign up, and then spend a certain amount of money within a set period of time, you receive bonuses worth $100, or even $200.
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Why You Need a Small Business Credit Card

Many of us with small and home businesses don’t think a lot about getting a credit card.

After all, what do we need with a business credit card, when everything is so…small?

However, a small business credit card can be a good move for just about any small business — even if you don’t think that you need one. There are advantages to having a credit card in the name of your small business.

Here are some of the advantages of having a small business credit card:

Build Credit for Your Business

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Consumer Financial Protection Bureau Makes Consumer Complaints Publicly Available

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Do you know about Yelp?  Maybe Tripadvisor?

If you’re looking for a new restaurant or you’re traveling and find yourself in an unknown place, Yelp and Tripadvisor take some of the guesswork out finding a quality restaurant by publishing customer reviews.  You can search for restaurants by the amount of positive reviews and companies can respond to the review in an attempt to rectify a negative customer experience.

Websites like these have caused some local businesses to clean up their act since they know that savvy consumers reference these sites en masse.  They know that bad reviews can affect their bottom line just as positive reviews can increase traffic.

Not all businesses have such a low tech yet effective system of oversight.

Wouldn’t it be nice to know how a certain bank in your community treats its customers?  When trying to choose from the sea of credit card offers, wouldn’t it be nice if you could see what other card holders around the country think of the card?

Credit Card Complaints Made Public

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Five Ways to Use Credit Cards Without Getting Buried in Debt

Everyone appreciates the importance of using credit cards responsibly; the issue comes down to tactics.

How do you use your credit cards to your advantage without also over using them to the point where they become a problem?

Let’s face it, credit cards are extremely user friendly!

Everything about them tempts you to use them even more.  From generous (and often rising) credit limits, to zero-interest introductory rates, to cash rebates and rewards, to the completely self-directed nature of the credit arrangement pull us into what is probably the most cozy relationship with any kind of debt we’ll ever have.

But credit cards are loans—as in debts that are required to be paid back.  If we ever lose sight of that we’re at risk of becoming credit card junkies or bankruptcy candidates.

How do we stay on the safe side of credit cards?

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Visa® Black Card™ Review – A Luxury Card That’s Expensive But Full of Benefits

For years, American Express has had the luxury/executive card market to itself with its wildly successful Platinum Card®.  Visa® has entered the upscale luxury card market with its Black Card (the card is backed by Barclays Bank Delaware).

The Visa Black Card is working to differentiate itself from other credit cards with its appearance and exclusivity.

The Visa Black Card is made with carbon (no, you shouldn’t concern yourself with how a card looks but it is kind of neat that’s it’s carbon – maybe it could come in handy in a MacGuyver situation?).  Also, membership is limited in order to ensure top-quality service for members.  That’s a big distinction from most of the plastic credit cards on the market today.

Let’s take a look at the features and benefits that the Visa Black Card offers, shall we?

Visa Black Card Benefits

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Four Places Not to Use Your Credit Card

Americans are in love with credit cards.

Many of us have replaced the cash in our wallets with our cards, charging everything from a cup of coffee to large purchases like automobiles.

Although credit cards are convenient, they aren’t right for all purchases even if you can get rewards points or cash back.

In what cases are credit cards a bad idea?  Here are some places NOT to use your credit card: Continue Reading