SERIOUS money question: NEED HELP!!!

[saden1]

Originally Posted by TheMalcolmConnection

saden, When I call the credit card company to get my rate lowered, what do I say? I hate sounding like a dumbass who doesn't know what he's talking about when I make a call, so I want to know some official stuff to say.

I simply call up and say I would like to get my interest rate decreased and my limit increased. You don't want to be a douchebag and make demands because most people and companies don't like douchebags. If you are a good customer you'll have no problem. Be aware of what the current WSJ Prime Rate is because no one is going to give you a card whose interest is less than that. If a company is offering you WSJ Prime + 1 point that's a good deal. Oh and whatever you do do try to get your rate fixed. Right now is not a good time to fix your rate but it sure beats variable rate if the prime rate goes through the roof.

Also make sure that you don't max out your credit cards. That's a big red flag. You shouldn't use more than 33% of your credit limit which is one of the reasons why you should get your limit increased every now and then.

One more thing, be realistic. If you only make 30K and you ask them to increase your limit to 20K they'll probably tell you to fuck off in a nice way.