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I can’t believe it! I called credit card #2 and they actually reduced my interest rate! I sit here amazed. I’ve called them before and they wouldn’t budge. Perhaps they are noticing that I am very agressively paying off their card and decided they better do something.
They reduced the interest rate from 16.99% to 13.99% and my account was technically upgraded to a “new” card to get the new interest rate. It’s not a huge decrease - but it’s something and I won’t complain. Every little bit helps when you are in my situation.
Next step - figuring out my gameplan on how to play the balance transfer game so I can get the rates even lower 
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Credit Card Debt
- Starting = $37,614
- Paid Off = $28,882
- Current = $8,732
- $25 ING Savings Bonus
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- Current = $3,750
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Posted: May 26th, 2006 at 2:37 pm
Great job!!! Persistance pays off. =)
Posted: May 26th, 2006 at 3:19 pm
Perhaps it’s because your debt repayment has improved your credit score, and now you qualify for their “preferred” or “platinum” interest rates.
Congratulations!
Posted: May 26th, 2006 at 3:34 pm
Yay!! Have you calculated the impact it will have on total interest and payoff period? Inquiring minds want to know!
Posted: May 26th, 2006 at 3:35 pm
Like you said, every little bit helps! Good for you for keeping at it!
Posted: May 26th, 2006 at 4:56 pm
You know what? In my amazement, it didn’t even sink in that the customer service rep said something about my “preferred” status. I bet my credit score increasing has helped.
I haven’t calculated the total impact on my payoff period but I hope to soon. I think I am going to see what I can do with some balance transfers
Thanks everyone for your kind words!!
Posted: May 26th, 2006 at 5:43 pm
Great news!
One closer step to paying off stuff!
Posted: July 22nd, 2006 at 10:15 pm
[...] I called Credit Card #2 at the end of May and they were pleased to lower my interest rate from 16.49% to 13.99% by giving me a different “preferred” card. [...]