If you believe the interest rate on your credit card is unfairly high, you may request that the card issuer reduce it. Although the most expedient way to contact your credit card issuer is through its website or a call to its toll-free number — typically listed on the card — you may also write and mail a letter. You have nothing to lose by submitting a respectful, well-articulated request.
Obtain the proper mailing address. Credit card issuers have different mailing addresses for different aspects of the business. Call, visit the website, or examine your billing statement for 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. State that the purpose of the letter is to request a reduction in the interest rate of your account. Follow up with an explanation of the reason you believe you deserve a lower rate.
Include backup documentation if necessary. If you have information such as your credit report to support a request for a lower rate, attach it to your letter to help state your case.
Follow up as necessary. If your request is declined, write again and ask for a reason.