Do you have a credit card from Chase that has added features, but also extra penalties that are wearing you down? Here is information on how to negotiate lower rates.
Chase credit cards have additional features that attract the customers, yet many find themselves asking, "How can I lower my credit card interest rate with Chase?" Since it is a well-known name in the world of banking, customers feel a sense of security opting for Chase products. The credit cards offer several features that most cards do such as online access of all information related to the card including account statements, balance and transaction history. There is also a feature where customers can receive alerts on card spends and reminders on your phone, PDA or email about the due date and the amount due.
However, with the added benefits come certain points that a customer must be cautious about. Some of the Chase cards carry huge penalties for payments that are not made for more than 60 days. There is also a penalty levied for spends that are over the limit. This is why many customers ask, "How can I lower my card interest rate?" Here is some useful information to help.
• How can I lower my card interest rate, what factors can help?
Lowering your current interest rate is dependent on several factors. These include having a good credit report and score, maintaining a low debt to income ratio, maintaining low outstanding balances on your credit card, paying more than the minimum balance due every month, and making payments on time without defaulting. If you are able to achieve these, then you are considered a good borrower and the bank may be willing to negotiate a lower rate.
• How can I lower my card interest rate, what should I look for?
Before you negotiate with your current card company, you should research to find the credit cards in the market with the lowest interest rates. Make sure you read the fine print to ensure that despite the rate is low, you do not find the interest rate doubling on payments that are due for over 60 days or drastic hikes in the rates after the initial term of the card is complete.
Follow these guidelines to ensure that your credit card balance does not reach unmanageable proportions that drag you into debt and give you a bad credit report. Keep track of your credit card spending and payment patterns on a regular basis through updates to ensure that your credit report is good.