How To Lower Credit Card Interest Rates Without Using a Finance Company
- 1). Call the number for the first credit card and follow the prompts to speak to a customer service representative.
- 2). Explain who you are and why you are calling. State that you have been a loyal customer and believe you deserve a lower rate. If you have received offers for cards with lower interest rates, say so. Tell the representative that unless you get a lower rate, you will cancel your card and switch to another credit card company (even if you don't actually intend to).
- 3). Follow the aforementioned steps for each of your credit cards. You have about a 50-50 shot of getting your interest rate lowered, according to a Bankrate article.
- 4). Call the credit card companies that did not grant you a lower interest rate and ask again. Persistence pays off, and you may get a different customer service representative who is more willing to lower your rate.
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