Negotiate a Lower Interest Rate on Your Credit Card

The Problem

You're paying 22% APR because you've never asked for less. The rate was set when you applied.

The Hack

Call the number on your card: 'I've been a customer for X years and always pay on time. I'd like a lower interest rate. What can you do?' If they say no: 'Can I speak to a supervisor?'

Why It Works

Credit card companies want to keep profitable customers. A lower rate means you carry the balance longer (more profit for them) while you pay less interest. It's a win-win ask.

Pro Tips

• Average reduction: 5-6 percentage points
• 70% success rate for customers who simply ask
• Better odds if you have on-time payment history
• If declined, call again in 3-6 months or try a different rep