Credit card is a practical and easy way to pay expenses and is part of many people’s lives. Even so, It is normal to abuse this convenience and extrapolate expenses, generating debts that are difficult to pay. If you are in trouble with the card and looking for some tips to negotiate debt, come to the right place! Everyone knows that letting credit card life accumulate isn’t a good idea because it can turn into a snowball. So we prepared this post to help you out of this. Follow our tips!
The Importance of Trading Credit Card Life
Even with the new rules announced in 2017, the credit card has one of the highest interest rates on the market, at around 500% per year. This means that a low debt can quickly become a major headache. Therefore, avoid paying the minimum amount of the invoice and try to pay the full amount. However, if your accounts ended up getting out of hand and you acquired a debt, there are still ways out. Card administrators understand that the value can be impractical for many people and, for this reason, they have the habit of “renegotiating life. If you Contracted a debt on the card, do not waste time and try to negotiate as soon as possible, preventing interest from continuing to multiply the amount to be paid.To ensure the best deal, use a few tricks.
5 Tips for Trading Card Debt
See 5 tips to extract the best result from the negotiation!
1. Do the math
First of all, know exactly what the initial debt value is, how much already was paid and the updated amount of interest. With that information in hand, do you know if the negotiation is being fair. Also, review your budget and define how much you want. you can pay for months.
2. Contact the credit card center
Contact the credit card center and let them know that you are happy. want to renegotiate life. Can contact me by phone or in person, the important thing that you show interest in resolving the situation.
3. Chat at receiving a good offer
Probably, the managing company will do one or a few offers that are not very advantageous for you, such as continuing to pay the minimum amount, which should be avoided at all costs. How are you j did the math, you know to say whether the offer is worth it or not? Typically, administrators are flexible and accept to receive counter offers. So don’t give up on trading until getting a good offer.
4. Negotiate payment in fixed installments
Prefer to close a deal in which you pay fixed monthly installments. So, stay It is easier to know the total effective cost (CET) and plan your budget. Avoid the options where installments increase over time and card interest continues to count.
5. Swap life for a lower rate
Often, the interest on the cards is so high that it doesn’t to pay not even negotiating. In that case, study the possibility of acquiring a loan with lower interest rates. So, are you can you pay the card view and escape the exorbitant fees charged on it. Finally, we emphasize that the best way out always financial planning. Take care of your finances and your budget to avoid wasting your money by paying interest. Did you like our tips for negotiating debt Continue browsing the blog and check out everything about “undue charging”: what and how to cope!