Time to Renegotiate Interest Rate on Credit Cards?
David Kanis in an article in the Asheville Citizens Times believes that it is time to take a shot at renegotiating interest rates with credit card companies because the federal funds rate has fallen to 2 percent and the prime lending rate to 5 percent. That would normally be correct - except that today’s tight credit environment because of the subprime mortgage crisis may make that difficult. Anyone tried to renegotiate credit card terms or interest rates care to leave a comment?
For those that are considering trying, you can find some tips on renegotiating credit card terms at:
Bankrate.com - Consumers can renegotiate … but it’s not easy.
The Motley Fool - Renegotiating your credit card rate
