Drop my interest rate or I will stop paying ?
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Posted by skidder
(204.116.21.6) on March 24, 2003 at 11:11:13:
I have had some credit problems that have temporarily blemished my credit report. Nonetheless I have continued paying Citibank a sizable $400 a month (I have about a $13,500 balance and 24.9% APR). After paying them this amount for about a year I requested them to lower my APR .. at first they they should be able to, but they are not sure why the request will not go thru, then my bill said next month my APR would be dropped to 19.9%.... The following month it stayed at 24.9%. I called up and they said because of my credit report I can not get the lower rate. At this point my credit report will need some years to clear itself up. Now I am ready to call them up and tell them "drop my rate or I will stop paying"... any thoughts on this strategy that I am more than ready to follow through on? Thanks
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