How To Manage Credit Card Debt

Consider calling each of your credit card companies to ask for a lower rate of interest.

Before you call, think of whatever arguments you can use that would help them agree to give you a lower rate of interest. For example:

• If you have other credit cards, you can threaten to transfer your balance to another account. Or 
• You could explain the problem as something that happened one time (because of your health?), and that from now on you'll be able to keep the balance current.
•  You could even tell them that if the rate is low enough, you will transfer a balance from another account to this one so the company will make more interest even with a lower interest rate. (Before you actually legally agree to the transfer, read the section above about transferring credit card balances.)

If the representative you speak with balks, ask for a supervisor.

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