How to get Lower Credit Card Interest Rates

In order to pay off balances, it is necessary to find ways to get lower credit card interest rates. High interest rates can increase balances faster than you can pay them off. Lower credit card interest rates can help you lower your payments and pay off your credit cards faster.

Difficulty: Moderate

Instructions

1. Get a copy of your credit report, and read it thoroughly. High interest rates can be the result of a poor credit score, and understanding all of the items on your credit report is the first step to getting lower credit card interest rates.

2. Improve your credit score by paying down balances and making all payments on time. As your credit score improves, your chances of getting lower credit card interest rates will go up.

3. Call the credit card company and ask for lower interest rates. They will sometimes agree to lower credit card interest rates in order to keep your business.

Tips & Warnings

• Ask to speak to the manager when you call the credit card company. Many customer service representatives don't have the authority to lower credit card interest rates.