Credit Cards - Can I negotiate a lower rate?

Hillbilly_2

I owe money on several cards and so far have always made the minimum payments on time.
With interest rates going up I am finding it increasingly difficult to meet the payments.
I don't want/need to use the cards anymore and just want to get them paid off. Will they negotiate on a lower interest rate to ensure they get all they are owed a little quicker?

NickX

Hillbilly wrote: »

Will they negotiate on a lower interest rate to ensure they get all they are owed a little quicker?

If you don't ask you don't get

Always worth a call to them and you might be pleasantly surprised.

Good Luck.

Scrilla

Another option maybe to have a look at Martin's balance transfer article. If it's going to take you a while to pay of your cards as they stand now, a balance transfer may be a better option.

Are you able to apply for another credit card is the main question if you're to go down the balance transfer route. The transfer fee on the new card will be offset by the fact you're paying 0% interest for the next year.

benf90

If it's not possible to balance transfer the balances to a new card then this article should be of help (as you have more than 1 card):

http://www.moneysavingexpert.com/cards/cut-credit-card-interest