On the other hand, an interest rate negotiation is an agreement with your creditors to lower the interest rate on your credit cards.You’ll contact each of your creditors to request better rates on your open accounts.If you find it’s not that easy, you may need to take more drastic measures.
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If you’re one of the millions of Americans with overwhelming credit card debt, you may have looked into a credit card consolidation loan to tackle your debt.
And while a consolidation loan for credit cards can be a good option when you have a lot of bills to pay off, there are plenty of alternatives to consider. Review your current financial picture and goals with a financial advisor or specialist certified credit counselor to determine the best plan for your needs.
It’s helpful to mention competing offers or plans that you’ll consider if your creditors don’t seem willing to work with you.