5+ Ways How To Lower Interest Rates On Credit Cards

If You Have A Shaky History.

Contact your credit card issuer and explain why you would like an interest rate reduction. You’ve probably gotten calls or messages from companies guaranteeing — for a fee — to get you a lower credit card interest rate and promising to save you thousands of dollars. Just be sure to only use credit for absolute essential purchases, track your.

But You Can Also Call And Ask Again A Few Months Later.

If you have multiple credit cards, you’ll want to call all of the issuers. Credit card interest is expensive. The credit card company might initially deny your request or offer a minimal reduction.

Three Of The Companies Lowered My Interest Rates.

The two main ways to lower credit card interest rates are to negotiate with the credit card company or to consolidate credit card debt into one lump sum with a lower interest rate. The normal apr on my discover it card is 21.49%. Explain why you need a lower interest rate.

Understand That You Will Likely Have To Negotiate To Get Your Rate Lowered.

If you maintain good credit and a clean payment history you can often be granted a lower interest rate. Having a good credit score may help you receive better offers for new credit. Credit card issuers assess interest based on your average daily balance, not your.

A Credit Card Issuer Doesn’t Have To Agree To Your Request To Lower Your Interest Rate.

When negotiating a lower rate on your current cards, aim for a rate that's lower than the average. Negotiate with your credit card company. If you carry credit card debt, chances are that your monthly payments will rise sharply this year.