How to Master a Master Card?
I have a Bank of America Plantinum Credit Card. Credit limit is $1,000 with an 18.24% APR. I called the credit agency just now and they said I qualify for an adjustment in the APR. I just need to call them in the morning when the office is open. In the begining I always paid the balance of this card each month and they increased my credit limit from $500 to $1,000 somewhere down the line. But then I’ve been carrying a balance of $500 for a couple months now.
If I pay my balance in full before calling to request a lower APR will Bank of America be more willing or less willing to lower my APR?
If you pay it off, the bank will be MORE willing to cut you a deal, because they see that you’re close to cutting up the card, and they would rather give you a low rate to entice you to transfer another balance onto their card.