It’s surprisingly easy to lower interest rates for your credit card companies. You may face difficulties if you have a history of overdue payments, but you will still be able to work something out with a credit card company. It’s important to be persistent. Credit card companies want to keep making money from your account, so generally they won’t lower the interest rate to zero.

It’s surprisingly easy to lower interest rates for your credit card companies. You may face difficulties if you have a history of overdue payments, but you will still be able to work something out with a credit card company. It’s important to be persistent. Credit card companies want to keep making money from your account, so generally they won’t lower the interest rate to zero.

However, they want to prevent you from transferring all your debt to a credit card with a lower interest rate, so they will reduce your interest rate if you ask.

Verification of credit card statements

You must collect your credit card statements together. In the application you should see the customer support number. You have to call the number and key in the option to talk to the operator. While this may seem like a time-consuming process, you should understand that within a few months you can save a few hundred dollars with this one phone call. It is also important to note the current interest rate so that you can negotiate.

Ask to reduce the interest rate on credit cards

  • Once you talk to the representative, you should ask him to lower the interest rate. You may mention that you always pay on time. You should always be polite when requesting a change in interest rate. They’re doing you a favor.
  • They don’t need to lower the interest rate and so you have to be polite. If you scream or become belligerents, a customer service representative will not be so willing to work with you on this matter.
  • If they don’t lower the rate, you can ask them why.

If this is due to late payments, ask a representative what you can do to get a lower interest rate in the future. You just need to wait a few more months and make the payment on time to be eligible. If they say no, try calling in a few weeks. By calling sequentially, you are most likely to lower the bid. You may mention that you have a zero percent card or another low percentage card that you can transfer.

Please try again if necessary

Try again in a few months, even if they lower the rate because they can offer an even lower rate. If you have an initial rate of eighteen percent, they can reduce it to twelve percent. When you call again, they can reduce it to nine percent. Eventually you will be able to get the interest rate on credit cards up to five percent or lower. This may depend on the current financial climate, if interest rates are low because of the economy, you may find it easier if compared to when interest rates are higher overall.

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