How to Get Lower Credit Card Rates

Low interest rate credit cards are coveted by consumers. The lower the interest rate, the less money you pay the credit card companies. Follow these steps to lower the interest rate on your credit cards.

Things You'll Need

• A good credit score and credit history
• The ability to make more than the minimum credit card payments
• A low debt to income ratio

Instructions

1. Keep your credit score high and your credit history clean. Credit card companies will be more likely to give you a low interest rate if they know that you are a responsible consumer. If you do not have any negative information (such as charge offs or delinquent accounts) on your credit history and if you have a high credit score, credit card companies will reward you with a lower rate.

2. Pay attention to your payments. Always pay your credit card bill on time, and try to pay more than the minimum required payment. Again, this will show the credit card companies that you are responsible and that you are able to afford your bills.

3. Pay down your debt. Try to keep your credit card balances low. The lower your debt to income ratio is, the more likely the credit card companies are to give you a lower interest rate.

4. Just ask for a lower interest rate. Call the number on the back of your credit card and ask a customer service representative about lower interest rates. If they say that they can't do anything to help you, try talking to a supervisor. If there are no lower interest rates available when you call, try again every few months.