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I currently have a citi card account with a balance of $4300 with a limit of $4200. I'm currently 1 month late, they raised my apr to 28.99 from 8.9 charged me over limit fee and late fee. My current minimum due is $376. I called and tried to see if they can help me, the only thing they can do is close the account and do a hardship program thing. I tried calling again to see if I can pay the minimum in return lower my apr, again can't do anything but wait for results on some eligibility for lowering my apr.

Anything I can do to lower my apr atleast? I have the minium to pay, but I can't afford that amount every month with a 28.99 apr!

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If you can get the hardship program - take it. Usually you can negotiate the rate to 2% to 4% - sometimes even less; but in order to do that you have to agree to the terms of the hardship program. The terms vary and you can have a short term program or a long term program (up to 5 yrs). The interest rate reduction alone is worth it as you are working with the OC and not subject to the outrageous fees so your payments go to actually reducing the debt. The reason you have to close the account (and it may only be temporary) is to keep you from making additional charges. That is a good thing in this credit climate if you are struggling now. Good luck with your negotiations.

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