Lowering Your Credit Card Interest Rate
If your credit card has a high interest rate and you are carrying a balance on it from month to month, it is a good idea to look into getting your interest rate lowered. By cutting it by even a couple percent, you could be saving yourself hundreds of dollars.
If you are happy with your current credit card but would just like to see a lower interest rate, give them a call and see if they are willing to work with you. You might be surprised to find that many credit card companies will lower your interest rate if you simply ask them to. This is particularly true if you let the company know that you will be looking for a new card with a lower interest rate if they don’t work with you. The company would much rather lower your interest rate than lose you as a customer.
Of course, to qualify for a lower rate, you will need to have a good credit rating. So, be sure you have been a customer in good standing before you make such a request. If the card company is still unwilling to lower your interest rate, make good on your promise. There are dozens of credit cards out there and many offer free balance transfers to new customers and a 0% introductory APR that lasts for up to a year. So, transfer that balance and get it paid off before the introductory period is over.