Can you ask your credit card company for a lower interest rate?
Call your issuer and ask for a lower rate
The lower your rate, the less interest will get added to your balance every month.
That means it’ll cost less money to pay off your debt in total—and you’ll be able to pay off your debt more quickly.
So call your credit card issuer and ask if they can lower your interest rate.
How can I get my credit card interest rate lowered?
Follow these steps to lower your credit card interest rate:
- Do your homework – it pays to shop around.
- Start with your oldest card first.
- Request a lower rate from your card issuer.
- Consider a balance transfer card or personal loan.
Can you negotiate APR on credit cards?
Negotiate Your Interest Rate
If you’re not interested in any of the card company’s promotional offers and just want to lower your APR, let the customer service representative know. Make sure to reiterate that you’re considering switching to a balance transfer card if your current APR isn’t lowered.
What is a good interest rate on a credit card?
However, the average interest rate on credit card accounts that are actually being charged interest is 15.54%. Low interest credit cards have a lower average of 13.99%, while cash-back credit cards average out at a much higher 17.09%. The average interest rate for credit cards from credit unions is only 9.37%.