I had the same thing happen to me with my Discover card account. I usually don’t carry a balance so I don’t really pay attention to the monthly rate. I know at one time that it was 6.99%. In January, I made a rather significant purchase and did not pay the balance in full at the end of the statement cycle.

Last month, I got busy and did not pay my bill on time. Actually I did, but online payments at the Discover Card website take 2 business days to post, so my payment was technically two months late. I got charged a late fee and my finance charge jumped to 24.99%. I called Discover, explained that I usually don’t carry a balance and have been a good and faithful customer for several years.

I told them that I will be carrying a balance for awhile and asked if I could get a lower rate. My credit score is around 750 so I thought my request would be honored.

I was told that my late pay is what drove my rate higher and that I have to live with it for six months. I also pleaded for a little relief and the customer service rep did lower the rate to 20.99 effective with the next statement cycle, but did tell me that I could not get another rate review for six months.

My goal is to pay off the outstanding balance in two more months, then call every six months until my rate is back to single digits. Until then, I just won’t carry a balance.

That’s great! The funny thing is - it’s that easy. Thanks for the script, makes it easy to understand.

Cheers,

Chris
http://www.37daystocleancredit.com