Tired of High Credit Interest?by Debbie Vasen | More from this Blogger 27 Dec 2007 10:22 AM Want to start the New Year off right? Make a few phone calls to your credit card companies. Most people don't realize that both your interest rates and your credit limit can be negotiable. From a credit score standpoint, keeping the same credit cards with the same accounts for a long time helps your score. Credit history is a key component of both your credit report and the scoring system lenders use to evaluate your credit risk. When you get all these great offers in the mail to switch for a lower rate or even a 0% APR for a designated period of time, it can be tempting to take advantage. Unfortunately this game of shifting your debt from account to account can really hurt your credit score. A better game to play is to put your negotiating hat on. When you get that next hot new offer, call your current credit card company and ask them to meet it or beat it. If you have been a good customer, they will want to keep you. Many credit card companies will certainly consider matching an advertised rate by a competitor to keep your business. While you are on the phone, ask about some of their awards programs. When I decided to switch to a rewards card a few years ago - I called my current card to cancel. I was surprised when they told me they could offer me an even better reward program on my current card and account number. I didn't have to change a thing - they simply clicked a switch and I was earning cash back. Credit card companies won't give you incentives unless you ask. These programs are there to help them get new customers. Unless you make the effort to ask and negotiate for them, they don't have much interest to offer them to you. Related Articles: *Are Credit Cards Tools or Traps? Learn more about Debbie Vasen  Debbie Vasen is a published web content editor and writer, as well as a freelance writer for various print publications. In addition to blogging at Families. Relevantmoney tags User Comments No comments on this article yet. Be the first to comment! Discuss this article
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