How Can a DMP Lower My Interest Rate?

Wondering how a debt management plan works? Its easier than you think. Your credit card company won’t tell you that you can get a lower interest rate in a debt management plan because they want you to pay the full balance back. Now if you can afford the payments but your interest rate is too high, you may want to consider it if contacting the bank has caused little to no success. However, you must know that enrolling your credit card balances in a debt management plan requires your card to be closed, meaning you simply cannot charge on that card until the balances are paid off. The important thing to keep in mind is maintaining timely payments since 35% of your credit score is measured by not missing payments. Also, in a dmp you can pay more than the recommended balance as there is no prepayment penalty.

What Do The Interest Rates Drop To?

Capital One 7.4%

Bank of America 9.9%

Chase 6%

Juniper 5.9%

HSBC (Household Bank) 9%

Wells Fargo 7.3%

American Express 9.90%

FIA Card Services 15.90%

Wells Fargo Card Services 7.30%

Bank of America 9.90%

Citgo/Citibank 9.90%

Household Bank 9.00%

Discover Card 17.99%

Macys-All Divisions 8.00%

Bank One – First USA 6.00%

Direct Merchants Bank 5.90%

Fashion Bug * 8.00%

HSBC/Discover 9.90%

First Premier Bank 10.00%

First National Bank of Omaha 9.90%

Goody’s/WFNNB 10.00%

Providian National Bank 10.00%

and many more.

Now, if you are currently more than two months behind on your payments, then your best option may be a <a href="http://www.debtmanagementguys.com/debt_settlement.html”>debt settlement program

To find out what you can qualify for, contact the debt Management Guys today at
678.561.debt today.

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