Can a credit cards interest be lowered

[Shabuki]

Can a credit cards interest be lowered if you can no longer pay that high interest rate. Rumor is you can have that adjusted however only thru certain credit card companies. Does anyone happen to know which companies... I need to find out if Amex or Spiegle does. thanks!

[Japhet11]

Hi Shabuki,

The simple answer to your question is yes. There are going to be many factors at play here though. Like how long have you been with them? Have you been on time with your payments every single month? Have you gone over your limit at all? And also has your credit score changed since you applied with them?

If your score is the same as it was when you applied for the card, then you're likely not going to get those interest rates lowered. So if you need to repair bad credit first, definitely do so. If your score is higher, and you've been responsible with your payments it may be as simple as giving the toll free number on the back of the card a call. The money you'll save every month will really start to add up.

Let us know how the call goes. And if you need someone to go over your credit reports for you, we offer free consultations at MyCreditGroup.com.