(no title) (original) (raw)

Ok. I'm really frustrated by this.

My bf owes $2500 on his credit card and his interest rate is 17%. What happened is he had a lower rate at one point, but when the credit card got sold to another company, they raised the rate to 17%. He called them to ask them if he could lower the rate, like you're supposed to, and they said they couldn't for a year. And so he said he'd switch to a different card, and they said go ahead. Well, he kept the card.

I'm trying to convince him to transfer that to a nice 0% intro and low transfer rate card. But he's convinced because of his credit score of around 700 that even after the intro it'll go back up to what his rate is now. Plus, he's had the other card for 5 yrs and says that after a year they'll start lowering the rate again.

Please, help me. Should he stay or should he find another card?