How to Write a Letter to Reduce Credit Card Interest Rates


If you believe the interest rate on your credit card is unfairly high, it's time to write a letter to the credit card company to request a rate reduction. Don't get stuck paying the high interest rate because you are afraid the credit card company will say no. Writing a letter isn't difficult to do. You have nothing to lose and everything to gain.

  • Get the proper mailing address. Credit card companies have different mailing addresses to handle different aspects of the business. Either call or visit the website for the credit card company to get the correct mailing address.

  • Include the pertinent information in the reference line. In an attempt to route your letter to the correct department quickly, insert the card holder's name, account number and the phrase "interest rate reduction" in the reference line.

  • Get to the point early. Explain that the letter is to request a reduction in the interest rate on your credit card. You can always explain why you are requesting the reduction afterwards.

  • Include backup documentation if necessary. If you have information such as your credit report to backup your claim for a lower interest rate, attach it to your letter to help state your case.

  • Follow up for a response. Writing the letter to reduce your credit card interest rate is half the battle. You have to follow up with the credit card company for a response. If they turn you down, get an explanation as to why. If they agree to reduce the rate, make sure to get a confirmation stating the new interest rate and when it will go into effect.

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