Negotiate or transfer

[Anonymous]

OK  My last post was asking about balance transfers. This time I was wondering if anyone has negotiated with their current lenders(Banks,or major credit card companies) to either do a consolidation with them or a rate decrease? I'm still searching for a new bank to transfer some balances (US Bank?) looks good, but I would rather stay where I am and not get a huge ding on my report for a new inquiry.

Once again I have a great credit history, just a couple accounts(4) with high balances that I would love to get down. Unfortunately the credit companies and banks don't like that much even if I have never been late.  So Is negotiating better?

[creditwherecreditisdue]

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@Anonymous wrote:

OK  My last post was asking about balance transfers. This time I was wondering if anyone has negotiated with their current lenders(Banks,or major credit card companies) to either do a consolidation with them or a rate decrease? I'm still searching for a new bank to transfer some balances (US Bank?) looks good, but I would rather stay where I am and not get a huge ding on my report for a new inquiry.

Once again I have a great credit history, just a couple accounts(4) with high balances that I would love to get down. Unfortunately the credit companies and banks don't like that much even if I have never been late.  So Is negotiating better?

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It won't be much of a "negotiation". You can call and ask for an APR decrease - they will either give it to you or not. Having multiple accounts with high utilization does not present the best picture when making such a request. The alternative is to plead some kind of hardship and ask for relief. Issuers' relief programs may require suspension or closure of your account and may wreak far more havoc with your CBR's that an inquiry or two. If you truly have great credit reports your best move would be to app for/obtain a new CC with a 0% or low APR BT offer and take advantage of it.