Just how easy it is to get a lower credit card interest rate? Simply telephoning your credit card company and asking for a lower interest rate can get you instant results. Negotiate a rate for seven to ten points lower than your current interest rate.  The basis for getting the interest rates lowered depends on financial factors.  If you meet certain conditions of credit, they will say yes.


They will say yes if you meet most or all of the following conditions:

  • No late payments, a good credit report with a good to excellent standing score.
  • You must have a low debt ratio to income ratio, to carry a low balance on your credit cards.
  • Make higher payments than the minimum payment that is required.
  • Maintain an excellent payment record with your creditors.
  • It has to be a prime credit card, meaning; not of the secured type that is designed exclusively for those with bad credit

You can almost bank on a lower interest rate by meeting the credit conditions.  It may surprise people how easy and quick it can be to get their credit card interest rates lowered.  Just pick up the phone and call the business number on your monthly statement and ask for a lower rate.

  Before calling, however, make sure you are a good customer for this strategy, and do some research.  Surf and visit the websites of the largest credit card companies or for the cards you hold. Understand that the interest rates that they advertise are for those who earn a median income and have a good-to-excellent credit ratio.

At the time you call and ask or negotiate a lower interest rate, your reasoning should be logical that you deserve it because you've maintained an excellent payment record, and are a good reliable customer. Also, that you're receiving and getting better offers from banking institutions.  You want to reduce your interest rate so it imitates what is available in the current interest markets. Tell them you have received a pre-approved offer in the mail reflecting the market interest rate.

Anytime a credit card company refuses, transfer your balance and wait for them to offer you a better rate and a higher limit to get you back. The marketability is your excellent credit rating.