Suffering from incredibly high interest rates on your credit card? If the answer is yes, know that it is never too late for you. You could still lower rates to a fixed and affordable number. Unbelievable? No fiction here, you could still convert your current card into a low interest credit card!

How to do it

To convert your existing card into a low interest credit card, you have to do three things. Firstly, establish a good credit history. Secondly, do some intense research. Thirdly and finally, negotiate with your credit card company to give you a lower rate.

Establishing a good credit history. This first step is the hardest one if you have a flawed record of credit card payments. You have to build a better credit reputation and that only means you have to pay on time. Your credit rating is important in building credibility, not only as a card holder, but also as a consumer and as a member of society. If you already have an outstanding credit rating, remember to maintain such a ranking. After achieving this, then move to step two.

Doing some research. The goal in for online research is to match your card to a low interest credit card from another company. Search for a card that works like the one you have. If you can come up with at least two which offer the same rewards, incentives, and privileges like your current plastic, you are all set for the third step: negotiation.

Negotiating with a credit card company.  With data in hand, call the credit card company and ask them to lower the rate on your current cards. Cite a good credit history, and make them acknowledge that you will be quite a loss in their list of customers if they do not give in. Enumerate facts that you have uncovered through research. Reason that if others companies could offer similar cards in a lower rate, why cannot they do the same thing?

After doing all three steps, two results will emerge; first one is that with all your excellent reasoning, a credit card company will give in and your old plastic will be converted into a low interest credit card.

Second one is that your request will be denied, at which point you could cheerfully terminate your contract with this old company and sign on with a new one. There would be no trouble choosing because you have already done research, and have at least two ideal cards in your list.

Whichever result you end up with, your goal in getting a low interest card must surely be met. Have fun doing this project!

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