About Credit / Debt Management: Why Opting-Out May Not Be Smart

Credit / Debt Management In the Spotlight | More Topics |   from LaToya Irby Interest rate increases have left (possibly) millions of us infuriated at our credit card issuers. We have to be careful not to take that anger out on our own credit scores, though. There aren't many options for dealing with interest rate increases and the one that seems the best - opting-out - could.   In the Spotlight Why Opting-Out May Not Be Smart A few weeks ago Citibank announced an interest rate increase that affected millions of cardholders. If you're thinking of opting-out of that increase, think again. Opting-out could hurt your credit score. Find out how.              More Topics Credit Crisis Survival Guide Everyday Credit Issues Dealing With a Credit Limit Cut Using Credit Cards Calculate the Balance Transfer Cost Using Credit Cards Naughty and Nice Holiday Spending Avoiding Debt 16 Reasons for Rate Increases Using Credit Cards Find Your First Credit Card Credit 101 Tactics for Paying Collections Debt Collection How to Negotiate a Lower Rate One Credit/Debt reader called up customer service and spoke to a supervisor about the interest rate increase. He was able to talk his way into .5% increases, instead of the 3.5% - 7% increases, Citibank originally tried to give. Read these tips on negotiating a lower interest rate and try getting yourself a lower rate.   5 Ways to Respond to a Rate Increase Sure you want a lower rate, but when opting-out and negotiating don't work, there are a few other things you can try, like transferring your balance to a lower rate credit card. Find out other ways to respond to an interest rate increase.     Sponsored Links   Best Moves in a Bad Economy Save & Invest the Right Way Find out how to beat a bear market, make smart choices, and keep your cool even when the economy is unpredictable. Credit / Debt Management Ads Credit Settlement Debt Shield Debt Settlement Form Debt Problems Credit Counsel Advertisement     Visit Related About GuideSites: Search About      Sign up for more free newsletters on favorite topics. You are receiving this newsletter because you subscribed to the About Credit / Debt Management newsletter as lemmetry@GMAIL.COM. If you wish to change or remove your email address, please visit: http://www.about.com/nl/usgs.htm?nl=credit&e=lemmetry@GMAIL.COM About respects your privacy. Our Privacy Policy. Our Contact Information. 249 West 17th Street New York, NY, 10011 © 2008 About, Inc.