How To Negotiate A Lower Credit Card Interest Rate?

The interest rate on your credit card affects how much you pay in finance charges when you carry a balance. The higher your interest rate, the higher your finance charges will be. You may be able to talk your creditors into lowering your interest rate.

Call one of your creditors and say something like, "Hello. This is your name here. The interest rate on my credit card is much higher than the rates on credit card offers I've received. Can you do something about that?"

A more aggressive approach: "Hello. This is your name here. I'd like a lower interest rate. I have lower rate offers from other credit cards and will switch if I can't get a lower rate from you.

To further strengthen your argument, you might consider using the number of years you've been a customer, the most recent number of consecutive on-time payments, your credit score (if it's good), and actual (lower) interest rates of other credit cards and offers.

Don't try to bluff the creditor by saying you have a lower rate credit card offer when you really don't.

You might get called on your bluff.

In the end, you must to be willing to follow through on the threat to move to a lower interst rate credit card if the creditor doesn't budge.