What can I do to reduce my INTEREST RATE?

There are numerous options availible to reduce Interest Rates.

You can contact your Payee and request that the Interest Rate be lowered. Sometimes they will accommodate your request if they have interest rate promotions in effect.

You may have the option to transfer the Loan Balance to a different account with a lower Interest Rate and availible credit remaining.

If you own a home, you can consider opening a Home Equity Line-of-Credit account. This will provide you with money to payoff or consolidate higher interest rate loans.

If you have a 401K account, consider taking a loan on your vested balance to consolidate High Interest loans. The Interest Rates on 401K loans are usually low, and all interest you pay goes back into your own 401K account!!

If those options are unavailible to you, another option is to open a new account with another payee who is offering a low introductory Interest Rate.