05-06-2009 10:31 AM
So my husbands interest rate went up to 26.99% - yuck.
His credit scores have improved, i made more than minimum payments $2000 balance on $2500 limit.
Called them today and they told me nope, no interest rate reduction that was the best rate available to me. Asked to speak to another manager and they said the same thing - however when I explained I was trying to buy a house and wanted to be able to use this card when we had but had to get the balance down somehow they did a great thing for me.
Basically they have a thing where any purchase over $299 has no payments and defers interest for 12 months... she put the whole bill on that. Now granted if i don't pay it back within a year then all the interest will be added to the account but as long as it is paid within a year of today then there will be no interest. $180 a month with nothing going to interest seems a lot better than $150 a month with $50 of that going in interest payments. As long as we stay on schedule it should mean that we will save about $600 in interest