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5 Things You Can Say to Get a Lower Interest Rate on Your Credit Card

How to Ask for a Lower Credit Card Interest Rate


Many people pay high credit card interest rates for years without ever thinking to call their credit card issuer and request a lower interest rate. Credit card interest rates are often a negotiation. You'll never know if you can get a lower interest rate on your credit card if you never ask. Credit card issuers don't always lower interest rates, but it's worth a try. If you're stumped on what to say to your credit card issuer, here are 5 things you can say to get a lower rate on your credit card.

#1 Hi. I've been a good customer for several years, but I really need to have a lower interest rate on my credit card.

#2 Hello. I've been a customer for several years. I have excellent credit and I've been receiving lower rate credit card offers from other credit card issuers. I'm wondering if you can lower my interest rate to match these offers.

#3 Hi. I'm a good customer but I've received offers from other credit card issuers with lower APRs. I'd like to get a lower rate on my card or I'll transfer my balance to another credit card.

#4 Hello. I've had a credit card with you for six years with no late payments or high credit card balances. For the past several months, I've been charged 18% APR. I'd like to lower my interest rate to 9%. Can you do that?

#5 Hi. I just received an offer from another credit card issuer for 0% APR. However, my interest rate with you is 12%. I'd like to remain a customer with you, but I need to have my interest rate lowered or I'll have to switch credit cards.

When you make the call, remain call and polite. Don't get angry with the customer service representative, even if they can't lower your interest rate. If the customer service rep can't lower your interest rate, ask to speak to a supervisor and repeat your speech. If you're still denied, thank the supervisor for their time and wait a few months before you try again.

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