Chase That Chase Credit Card
Is There a Chase Credit Card In Your Wallet?
As a consumer with a Discover card and Chase credit card, I realize it is important to make all my credit card payments on time, most consumers realize the importance of timely payments. However, what many consumers don’t realize is that it is also important to make other payments on time including your electric and water bills. Whether you have a Chase credit card, an American Express card, a Discover card, or some other credit card, paying all your bills on time is important because it can affect your credit card interest rates and the bargaining power you have to negotiate lower interest rates.
What A Tangled Web They Weave
You might not realize this but credit card companies do have access to information about you above and beyond your payment history with their particular credit card company. So whether you have a Chase credit card, a department store credit card, or a combination of several major and minor credit cards, your interest rates can be affected by your habits as a consumer. If you miss your electric or cable bill, your credit card company can find out about that. It’s not wise to miss any of your monthly financial obligations because you will be subjected to late fees and higher interest rates. However, many consumers, when short on cash in a given month, might skip their electric bill and pay their credit card bill because they know their electricity won’t get cut off for one late payment, although this isn’t always the case. Yet credit card companies can use this information negatively against the consumer by instantly increasing their interest rates.
Another thing about interest rates that many consumers fail to realize is that you can call your credit card company and ask for a lower interest rate. In some cases, the credit card company will agree to lower your interest rate. This has happened for consumers with a Chase credit card, a Discover credit card, an American Express credit card, and other credit cards as well. Making payments on time and having an improvement in your credit rating since the time you applied for the credit card can all work in your favor to helping you get a lower interest rate just by asking. However, keep in mind that eventually the interest rate will creep back up without much warning, and you will have to call your credit card company again to renegotiate.
A Necessary Evil
Credit cards are a necessary evil for many consumers, but they are definitely a very convenient way to make our lives a bit easier. Whether you have a Chase credit card, a Discover card, or some other credit card, keep the above information in mind to avoid high interest rates and protect your credit rating.