Credit Card Debt Help: How To Fight Interest Rate Hikes

 

How Can You Fight Credit Card Interest Rate Hikes?

1. Check Your Credit Report.

Debt Warriors  like to take a first-things-first approach. So before calling your Credit Card Company and screaming their heads off,  start by checking your Credit Reports.  In fact, it’s a healthy practice to do it once per year (“Annually”).

AnnualCreditReport.com, is the only site that offers truly free Credit Reports.

Millions of American Consumers are having their Credit Card rates increased because of “something listed on their Credit Reports” – at least that’s what the Credit Card Company told them.

According to the Federal Trade Commission, generic statements are not good enough when explaining why an American Consumer has been denied Credit.

Your Annual Credit Report will cost you nothing, but you can only receive it once every 12 months.

Why should You Check Your Credit Report First?

• There may be inaccurate information on your Credit Report.
• Millions of American Consumers are finding that businesses are falsely reporting inaccurate information on Consumer Credit Reports.  The Big Three Credit Bureaus (Equifax, Experian and TransUnion) are not interested or motivated to correct inaccuracies on Credit Reports without the Consumer forcing them to.
• The Bottom-line is, the worse your Credit Report, the better reason for your Creditor to raise your rates.

After you’ve affirmatively verified that you are “Credit Worthy” (based on your Credit Report), contact your Credit Card Company and ask them to “lower your rate”.  Heck, it’s worth a shot.  But please be informed that many Credit Card Holders are being refused lower rates.

After contacting your Credit Card Company, If you’re denied lower rates, consider ordering the Credit Card Medic Debt Reduction Video Course.

 

 

DIY Credit, Debt Management: How To Reverse Credit Card Rate Hikes

Have your Credit Card Rates been raised? If not don’t get to comfy because your rates can and will be raised before next year.

Beware of rate increases – especially if you are a good Customer.

Chuck Lane Had Good Credit But A Bad Rate

CNN shared the story of Chuck and Jean Lane.  The Lanes’ minimum monthly Credit Card payment was raised from $370 to $911.  That is a 24% increase 😦 !  CNN had verified that the Lanes had excellent Credit and had never missed or made a late payment on their Card.

CNN reports that U.S. Law Makers are concerned about Credit Card Rates being hiked by as much as 20%.

As Debt Warriors we are worried about stories we hear that are finally coming out in the Media. Why are we sharing all these doom and gloom stories? Because we want you to know that you are not alone. And you are not wrong for feeling outrage at how these Creditors are treating you!

Debt Warriors Poll: Have Your Credit Card Rates Been Raised Recently? Vote Below:

What Can You Do?

While our Law Makers are focused on political theater, the drama in your wallet and purse will not end until you take action.  Debt Warriors are practical people and we know that there are some things you can do to reverse a recent rate hike.

For that reason, below are some steps you can take to reverse a Credit Card Rate Hike – for yourself 🙂 .

1. Contact your Credit Card Company.

Pick up the phone and call your Credit Card Company and ask them to “lower your rate”.  Be cautioned because they may refuse to honor your request.  If you’re refused a lower rate, contact Debt Warriors for your complementary Credit Check-up. Or you can purchase the Credit Card Medic Debt Reduction Video Course (from Debt Warriors).

2. Consider Doing A Balance Transfer.

As we wrote yesterday, Banks, Credit Card Companies and Credit Unioins are in competition for your business. If your Credit Card Interest Rates has been unfairly raised, a Balance Transfer to another (lower Interest) account may be the best solution for you.

But beware, there are some things you’ll need to know before you do a Balance Transfer.

Many people don’t know the secrets of doing a Balance Transfer the correct way, and they often end up worse-off than they were before. The Credit Card Medic Video Course shows you what to look for before, during and after you transfer your balance to another Card.

3. Contact Your Law Maker.

Chuck and Jean Lane were fortunate enough to get the Law Maker to contact the Creditor on their behalf.  You may find that with an election year comming in 2010, your Senator or Congress-person may be willing to help you in exchange for some good publicity.

Heck, it’s worth sending a letter and following up with a phone call, if it will get your Credit Card Rates reversed to levels that you can live with.

Top 3 Options To Avoid Judgment On Default Credit Cards

Credit Card Lawsuit Process

How Can You Avoid Judgment For Default Status Credit Card?

Be warned: Credit Card Lawsuits are on the rise. If you have a Credit Card Balance that you have not paid, the ugly truth is, you can be sued. If you are sued, and have a judgment, you can be arrested.

Today, you’ll learn the Top 3 options to avoid Judgment on Default Credit Cards.

1. Surrender and Pay the full amount.

This option is like surrendering to the Debt. Why? Because many Debtors/Consumers have been tricked and trapped into more debt. Sometimes what the Creditors and Debt Terrorist say you owe may be inaccurate (ever heard of accounting tricks?).Before you consider this option, perform your due-diligence and verify that what is claimed owed is accurate.

2. Fight Back!

Win Your War On Debt - For less! Call 866-576-4996 to learn how.

You have the Right to fight back. Is the Debt collectible? Has it passed the Statue of Limitations for Collections? Is the business suing, when they don’t have any right to sue? These are a few of the questions that you can arm yourself with as you prepare to engage in battle. Standing up for whatever Rights very well may lead to you being victorious.

3. Come to a Settlement Agreement.

In this economy, it’s likely that you can settle the account before going to Court and being slapped with a Judgment. Click here to learn how to save yourself time, money, stress and settle without trapping yourself in debt for years. The Debt Warriors Arsenal shows you how. Click here to learn more about the Debt Warriors Arsenal.

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DEBT WARRIORS™ are not Attorneys. WE ARE experienced Credit Repair and Debt Management, Negotiation and Debt Settlement Coaches. WE teach American Debtors how to manage and settle their debt (for themselves). The information on this blog, should not be considered legal advice. Debt Warriors offer helpful Credit and Debt “Self-Help” video course, Personal Finance, and information products.

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