Lower your credit card interest rate

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With the economy the way it is today, I know everyone needs a way to keep every penny they can. This is one small way to put more money in your wallet that doesn’t take much effort at all. Depending on the balance of your credit cards, this could really end up helping you out a lot. 

Difficulty: Easy Instructions Things You’ll Need:

  • Customer service phone number of your credit card company
  • A persuasive attitude
  1. Step 1

    Locate your latest credit card bill and familiarize yourself with your current interest rate and decide on a new interest rate you would like to negotiate for. Be reasonable, though. They probably won’t give you 0%!

  2. Step 2

    Call the customer service number and go through all the steps to speak with a live representative. Get your negotiating hat on, and have reasons why you think they should give you a better rate. For example, you pay on time every month, or you use the card all the time, and are a great customer. Another thing you could say to them is that you are trying to avoid transferring your balance but you are tempted to get a lower rate elsewhere and close this account.

  3. Step 3

    They may transfer you to someone higher up or a different department, but it will be worth it in the end. They WILL lower your rate! It may not be as much as you want, but every little bit helps. You should see the change on your next billing statement. I have tried this with Discover card, and Visa. So go ahead and give it a try!

Tips & Warnings

  • Do this every few months, and try to whittle away credit card debt!
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