Can I negotiate my credit card balance if I offer to pay a lump sum?
480849
they may negotiate the interest portion of the balance you owe. But- not likely... They would prefer that you just keep your money and make the minimum payment each month for the rest of your life.  What incentive do they get by taking less than the balance?  They don't want you to pay the account off. They gave you the account in the first place so that you would use it, keep a balance on it so they can charge you interest.  Why not just negotiate a lower interest rate.  If they say no to that, tell them you will be shopping for a lower interest card & do it & close your account.\n\nThe only situation that I know where they will eagerly negotiate and accept less than you owe is if you are in default on your account already.  They will then be more likely to take what they can get now instead of spending the money to try and go after you via collection agencies or court. Since you just refi'd your house I am assuming your credit accounts are in good standing though & probably doesn't apply to your situation.
308406
Yeah-- don't fall for that "consolidation" stuff. It'll damage your credit.\n\nIt's all about the interest rate. Figure out what interest rate you are paying on your cards and try to get the balance(s) all transferred to the lower rate.\n\nA lot of credit card companies try to get you to use them by hooking you in with a zero or low rate for balance transfers. Get one of these offers and transfer all your balances to it. And don't put any purchases on that card! If you put a purchase on it, the zero interest rate no longer applies and won't until the entire balance is paid off.\n\nYou might not be able to get another card. If not, just pay the larger interest cards off first. If interest rates are the same, it doesn't matter if you pay on a bunch of cards or one-- you end up paying the same. It's a hassle to make more than one payment, though.\n\nJust play the rates-- pay higher rates off first; shop around for transferring to a lower-rate card or offer.\n\nGood luck!
526986
How soon will it be cahrged off? Your credit is already affected so it won't hurt it any more if your credit is bad already. Secondly, make CERTAIN it's your bill and call the company to ask for verifacation that this is a legit bill. Even if you know it is. Why? Because most companies don't really keep good records for the long haul and they maybe can't produce your bill. Thus, you're off the hook.\n\nThen again, BEFORE you make arraingements understand that once you inquire on the bill that you're opening up the credit hounds to pursue you until payment is recieved. \n\nI appluaude you for wanting to clean it up. Just understand what it is, how much to pay it off in a lump payment and don't over commit to something you can't afford as far as payments.
185778
if you are able to get a credit card from another credit card company with the promotion of transferring balance with low rate or 3.99% or 0% (promotion usually end in 6 months), then you can cut your interest at least 6 months. Also, if you have line of equity and you can use that to cover your credit card balance instead (assume you don't have more bills from credit card company). Line of equity interest usually lower than credit card interest a lot. However, if you cannot get either of the suggestion works for you, then you're better not to use that credit card again until you pay it off. You have to pay it more efficiently, like to pay triple of the minimum amount, or lump sum payment if you can to cut back the principle you own.
544906
Lots of companies offer this but WATCH OUT!!!  You can get destroyed by these deals.   Here's how they work:\nYou transfer $5,000 to your new card.  You are happy because you know you parked that debt there and don't have to worry about being gouged for interest rates for a while.  The bad news is that IF YOU USE THE CARD, let's say you buy something for $50.  That $50 is now on your card getting hit for 20% interest.  You send them $100 to pay the bill.  Where do you think they apply that $100?  Against the $5,000 no interest part.  Your $50 stays there accumulating interest until the entire $5,000 is paid off.  It's a nasty situation.
947274
yes but you have to transfer the balance as well.
849595
My guess is that you can probably lower it to $300. That is usually the smallest amount credit card companies will lend because they need to make some money.
1085544
call them and explain the situation. At the end of the day you agreed to pay it by accepting the card but they are not heartless people. \n\nAdvise of your current situation with income and other outgoings more important (car, house etc) and then arrange a repayment plan. The sooner you do it the better.\n\nIn some cases they will stop you being able to use the card and will stop or at least reduce the interest charges, but you're better contacting them sooner rather than later
1030540
Even though its an annual fee it will accrue interest in you do not pay the whole balance off.\n\nLC
75628
If possible, try to get  your higher rate balances onto one low rate card.  Then use the free introductory period (sometimes up to 12 months) to pay down the principal.  Here's a site that features many 0% balance transfer credit card offers:  http://www.creditcards.com
929378
bascially card companies will start you with the highest interest rate they can depending on the card 17-18% dept store cards are up to 30% so be wary of those! Then its a per annum rate divided monthly based on the amount of credit you owe ( how much youve charged to your card) Not sure how long you've had this card but if you are good at paying your monthly amounts usually its 3% of the total amount owing you can get the overall interest rate dropped some to half the amount so be good to your card and don't accept the high rates just call them up tell them you have been offered another card with a lower rate and your thinking of doing a balance transfer why pay more them than you have to!
756299
The easiest way to do it is to apply for a new card and fill out the section of the application that deals with transferring the balance on your "old" card.  You'll have to give them your credit card number and the amount you want paid.  If you already have two cards, you may be able to pay the bill over the phone or online.  Best way to find out is to contact the company that holds the credit card you want to pay off and ask them if they'll accept another credit card for payment.  If all else fails, you may be able to take out a cash advance on the other card and use the cash to pay the bill on the card you want to pay off.
1117009
You sure can. Just make sure that 0% interest will be for the life of the balance. Otherwise, you'll get screwed by your credit card company. Make sure to read the fine print because they WILL screw you.
310560
That's something you have to ask your credit card company.  When you make payment, try to pay at least $5 more than the minimum due.  It will help you a bit.
511733
Depends.  There should be an explanation as to what those details are (interest payments, fees).  Call your bank and ask for an explanation if you still don't understand.
388142
Because of the new laws on BK, having to go thru six months counseling,probably not qualifying for chapter 7 and being moved into chapter 13, which is costly, perhaps a better action would be to negotiate a settlement with the credit card companies, a good company can get you down to around 20 to 40 cents on the dollar. click the link below for more help
1107631
An insurance company can do this.  Search the internet under "lump sum settlement".  Remember that this business can be a very shady one.  Talk to a tax guy, investment guy or accountant, to make sure that the reasons you are doing this are good ones.  Usually, it's a bad idea, but is sometimes a good idea.\n\nShop around.  A lot.  The amount you get could vary quite a bit, particularly if you are in relatively good health.