Achieving low interest rate is not as difficult as you think

Cool tips to help you compel your lender to reducing their interest rate

07:07 26 August 2013

There are many people out there in search of a way to achieve much lower interest rates even though they might not be facing financial hardship of any kind. There are some interesting tips I would be giving to you in this article that would help you achieve that of which two options are discussed below.

The first option is for you to make use of balance transfer credit cards and the second option is for you to make a call and request for a lower interest rate. The second option is more effect and works most of the time.

Now here are the tips to assist in reducing interest rates

• Make sure you are prepared: start by creating a list of your debts and any information that would help identify your account; balance and interest rate over the phone should be included.

 

• Contact a lender: Make a call to the lender with the highest rate charges and perhaps say something like you would want your interest rate reduced because you just went through your debts and noticed their interest charges are extremely high

 

• Don’t be in a hurry to end the call: The lender would most likely make a move to reduce it but if you are not still satisfied with the reduction, spend time trying to convince them to reduce it further and don’t let them transfer the call or put you on hold

 

• Be very sensitive: If the lender keeps ‘beating about the bush’ then just accept the offer they give you and switch to plan B

 

• Plan B: Since the lender won’t bulge, you could look into balance transfer credit card and you probably would have a real good interest rate with no one to beat it or you find something better