Want a lower interest rate on your credit card? Call up your credit card company and say, “I think I’ve been a good customer. I’d like to stay with you, but I really want you to lower the rate on my card. Can you help me?” If they say no, ask to speak to a supervisor and say the same thing. CBCnews approached 10 shoppers at random in a mall and had them call up their credit card company and tell them exactly what we told you. Six of them got their interest rate reduced. Those sound like odds worth playing to me.
(Thanks to Thomas!) (Photo: Getty)
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Thanks to this article I am more aware of my interest rates and had some small success with getting a couple lowered. Chase would not budge on my 12.24% & 13.24% rates. I even have my mortgage, car loan and savings/checking with them. Amex changed my 27.16% (this was the reason I hardly used it) to 12.24% and Discover went from 16.99% to 15.25% – very disappointing. I was working on paying Discover off and making progress so I will continue to target that card unless they lower the rate comparable or better than my other cards. I was told by chase and Discover that maybe I will eventually receive a better rate letter in the mail so I am hoping my call will trigger a nice letter for once instead of one lowering credit limits and raising rates! Thanks Consumerist!