If you have struggled with paying your credit card debt, you will probably most benefit from getting . There are several steps you can take in order to accomplish this.
If you have good history with your credit card companies, you may be able to apply to them directly to lower your interest rate. You will probably have to demonstrate to them that you are doing well off financially. You can show this by making significantly larger payments than your minimum balance for several months. After you have done this, then you can ask in writing for a specific lower interest rate, several percentage points lower than what you have now. If you have received balance transfer offers you should let the company know that you will transfer your balances if they do not meet your request, but only do this if you are willing to follow through with it. The credit card company may or may not honor this request.
If you are unable to pay more than the minimum payment on your credit card bills, you will most likely be unsuccessful in directly asking for . The same goes for those who have had late or missed payments. Yet credit card companies want to make sure that they get their money back, so they have arranged a program for you to get your interest rates lowered. This program is called a debt management plan and is a great way to see most interest rates lowered and many fees reduced or eliminated. By talking to a credit counselor, you will gain financial know-how that will help you with this program. By signing up for a debt management program, you are letting your creditors know that you are serious about getting out of debt.
If you are interested in finding out more about a debt management plan or simply want to find out more about what other options may be available for you to get , talk to a reputable credit counselor. The counselor can review your situation with you and help you learn what you need to know to get out of debt.
