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How can I get my APR reduced on my credit card?

I have a credit card that is maxed out and since I didnt have a job for a while last year, I was late for a couple months on the credit card. They change my APR from 14% to 28%!!! There is no way to get my balance down because the balance is so high....are there any options to get it lowered? I tried calling the customer service number and they told me I would need to talk to a personal banker (since my credit card is through a bank) and see if they could reduce it. I dont know what else to do!!! Just from being late 3 times, noone will give me credit and there is no way to pay down on this...help!! Does anyone know goodwebsites to go to about this? Thanks!! Wow, these are some great answers! The card was actually used for school tuition since I wasn't eligible for grants and I didn't have a job because I was finishing my last semester of school and my full time job was to demanding for my full time school. I know how to manage money, I know I signed up for this so I am not trying to not accept responsibility. BUT if there is any way to help my situation, then I will try. I love when people make assumptions about others...Madison.

Asked By: Lovely Lady - 3/11/2007
Best Answer - Chosen by Asker
Talk to someone at the bank and ask them to lower your APR. DON'T THINK THAT YOU CAN'T GET YOUR BALANCE DOWN!!! Anything beyond the minimum payment should help you reduce your balance. Pay as much as you can to the debt AS SOON AS YOU CAN so that your "average daily balance" (what they compute interest on) is lower... More
Answered By: Sarah K - 3/11/2007
Additional Answers (4)
If they refuse to lower your rate, after you told them you would get another credit card and transfer your entire balance to the new card, then you need to either get a loan, since you can not qualify for another card. The last resort is to see a credit council service. They will work out a deal to reduce the interest... More
Answered By: lester m - 3/11/2007
 
Don't take Madison (answer above) too much to heart -- I've seen him on here and he seems to write mean things to everyone. Regarding your problem, it seems like you might have to take the high APR. It was part of your card agreement that they would raise your APR if you had late payments, and since it was three... More
Answered By: Sarah - 3/11/2007
 
Here's what you do... More
Answered By: anon - 3/11/2007
 
Do you get as many "Pre-Approved" credit card offers in the mail as I do? Pick 2 or 3 of the best offers this month and have them in you hand when you call your current card's customer service number. Tell them to convince you NOT to accept one of the offers you have in your hand. If they won't reduce your rate... More
Answered By: STEVEN F - 3/11/2007
 
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