I want to call and ask for a reduction. The interest rates are crazy! What is a reasonable rate??|||Highly unlikely for a store card to lower the rate, but "reasonable" for a store card would be between 12-15 percent. If you can transfer the balance to a lower-interest credit card or one with a very low introductory rate then pay it off quickly, that may be your best option.
Credit card debt will eat your soul if you don't pay the balance in full every month. Work hard to beat the credit card companies and WIN over debt!
Unfortunately, people get sucked into 0% on Sears, Home Depot, Best Buy, and other stores every day hoping to pay it off before the high interest kicks in. Then life throws a curve ball. Of course, it is best to save up for items and have an emergency fund to cover major expenses.|||Department store cards all tend to have a high interest rate. It is unlikely that you will get a reduction. The rates tend to be a one size fits all and creditworthiness doesn't come into play.
Check into a major credit card instead. Your interest and limit will be based on your credit history and you can find much better deals.
By the way, why would you carry balances on a store card? The only reason to even have one is to take advantage of special discounts and sales for account holders.
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