How to Ask a Credit Card Company for 0% Repayment
- 1). Check your credit card statement for the customer service phone number. Call the credit card issuer and ask to speak to a supervisor right away. The front line customer service representatives will probably not have the authority to change the terms of your repayment, but the supervisory staff will.
- 2). Explain your situation as succinctly and honestly as you can. Give the supervisor the reasons that you cannot afford to make the credit card payments at the current rate. These reasons can include the loss of a job or a cutback in hours or an unexpected medical expense or other financial setback.
- 3). Ask for a zero percent rate on your credit card and explain that lowering the interest rate will increase the likelihood that you will be able to get out of debt. Credit card issuers know that they will likely get very little from consumers who are forced to file for bankruptcy protection, and many of those issuers are willing to work with clients to lower their rates and change the terms of their repayments.
- 4). Request a written copy of the agreement that you strike with the credit card issuer. Review the document carefully to make sure that you did in fact receive a zero percent interest rate on your outstanding balance.
- 5). Send your payments in as early as possible while the zero percent agreement is in force. If you miss a payment or pay late, the credit card issuer could pull the agreement and your interest rate could go back to normal levels.
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