Hot of the Press! Yes, it is true, there is a way to get lower credit card interest, a way so stunningly simple, so startlingly brilliant, it’s no wonder the financial wizards didn’t think of it sooner.
So lean in close and listen up, because this stellar method for getting lower credit card interest will knock your socks off. Are you ready? Here it is: Ask!
If you want lower credit card interest, just ask for it.
Seriously! Simply call your credit card company and ask if they are willing to give you a lower interest rate and 7 or 8 times out of ten, they will actually give it to you (at least they have in the past). Credit card companies need their customers, especially their good ones, to keep them in business. And if it comes to a choice between making a little less profit or making none at all, many credit card companies will choose the latter, lowering the interest rate on your credit card rather than risk losing you to another company who will.
Of course, getting your credit card interest lowered might depend on a few things.
Long time customers who pay when they’re supposed to and don’t give the credit card companies any hassles are more likely to get their interest rates cut, and cut lower, just for the asking, than someone who regularly pays late, or misses payments altogether.
But in general, especially if you’re a good, loyal customer your credit company wants to keep you as such and so, just ask, and ye shall receive.
And if you’re prepared to switch credit card companies if they will not lower your rate, your chances improve since you have nothing invested in the outcome.
But don’t make any threats of canceling your card unless you actually plan to go through with it. But if you had been thinking about changing companies to get a lower credit card interest rate, anyway, why not call the company you’re with and see if they’re willing to match–or even beat–the company you’re thinking of switching to?
After all, what do you have to lose?