I have to many credit cards to pay right now. I wanted to know if I call the credit card companies and tell them that I have a hardship time paying my minimum, and ask them to lower the APR%, how would all this affect my credit score and history.
Thanks in advance!|||Yes it will. Any settlement involving reduced payments will pretty much put your credit in the toilet. Think about it. You're announcing you can't afford to pay what you already owe. Why would anyone be willing to lend you more?
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