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@sljones3 wrote:
Hi, I was wondering how long is an appropriate amount of time after simultaneously overdrawing a credit card account and getting a late fee on top of it is a safe bet on calling to renegotiate interest rates. I was particularly disorganized and irresponsible for a few months and am now changing my ways. The last of either was in May. My rate is 19.99%. Since then I've lowered the balance by almost $1000 and have not had any additional fees or overdraws. Thanks!
There's really no hard and fast rule for this. Very generally speaking, I think that six months is a reasonable time frame to ask for AA to be reversed. Before asking, however, I'd make sure that my ducks are all in a row, so as to not draw additional AA. Unfortunately, it's usually the case that lenders only become reasonable when you don't need them. For example, if you've got very high utilization, you might want to try to get the balances down to a level that won't make the lender in question flinch. If you've got any lates on other accounts, you might want to try to get a goodwill adjustment. This, because when you ask for a lower interest rate, the lender may (more than likely) look at your credit. You don't want them to start sniffing around, and suddenly inspired to find new ways to extract more money out of you.
Which credit card company is it? It helps to know, because those with experience with that lender might chime in.