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Credit card consolidation or reduction occurs when someone consolidates the amount owed on their credit card to make one payment. This eliminates the amount of interest is paid and can reduce ones debt quicker.

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โˆ™ 2013-06-25 18:06:34
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Q: How does credit card reduction work?
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How do you write a credit card interest reduction letter?

what information do I need to list on a letter to ask for a interest rate reduction for a credit card?

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Yes, canceling a credit card always reduces your credit score. It never improves your credit score if you cancel a credit card account. If you have had the card for more than 2 years, or if you have a substantial amount of available credit at the time that you close the account, then the reduction in your credit score is even greater. However, if it makes sense to you to close the card, and you do not plan large purchases in the near future, your credit will recover without your feeling the difference.

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Call your credit card company and they will help you reset the code.

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An interest-rate reduction is usually an incentive to spend more - as the card-holder will pay less for their borrowing.

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