How to lower credit card interest rates – with just a phonecall

credit card and money

There are many ways that you can trim your expenses on your budget, and lowering your credit card interest rates is one of them.

It is very easy, but you just need to have the right information together when you make the call.

So, how do you lower your credit card interest rates?

  • Look on the back of your credit card to get the customer service number that you will need to call.  If you do not see this printed on the card you can find this information on a copy of your last invoice or on their website.
  • Gather your last 2 or 3 invoices for reference, and any introductory offers from competitors you might be considering.
  • Call and simply tell the representative that you would like to lower the interest rate on your card.  Make sure to state the following points to back your request:



    • You have been a customer for several years.
    • You have always made your payments on time.
    • You have a good or excellent credit score.
    • Also, make sure to have a % in mind when you ask.  For example, if you are currently at 23.99%, ask for 10.99%.
  • If they do not want to lower the rate with just this information, then threaten to leave their company for a better offer.  For retention they may go ahead and lower the rate for you to keep your business.
  • If they still will not lower the rate, hang up and try again another day because it could just be that customer service rep.  Or, you could ask to speak with their supervisor.
  • If after multiple attempts they still will not lower, you should probably go ahead and balance transfer to a different card with a lower rate.  I know this is a hassle, but it will save you money in the long run.  Just make sure when you choose which card to move to, that you are aware of the terms and any introductory rate offers.  You wouldn’t want something that only gives you a lower rate for say 6 months, then it jumps up higher than you previous rate.

I hope these tips help you to save money on your credit card bills!

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