Lower Credit Card Interest

Want Lower Credit Card Interest?

This just in: there may be 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. Now 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.

What do you mean, a one word reply is cheating? Okay, try this: if you want lower credit card interest, ask for it. Seriously. Call your credit card company and ask if they can give you a lower interest rate. 7 or 8 times out of ten, they'll actually give it to you. 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, giving you lower credit card interest rather than risk losing you to another company who will.

Of course, there are things to keep in mind. (Aren't there always?) 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 only the minimum, or misses payments altogether, or is constantly calling to complain about some aspect of their bill. But in general, especially if you're a good customer that they want to hang on to, just ask, and ye shall recieve.

If you're prepared to switch credit card companies if they don't give you a better rate, your chances improve drastically. Don't make the threat 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?